Answer:
look i don't care...
Explanation:
just joking i don't know that question
Answer:
The answer is b.Cash ,000 Notes Payable ,000
Explanation:
The exact entry Drake Builders Company has to record in its accounting book for the proceeds received from the issuance of the note is:
1st January
Dr Cash 400,000
Cr Note Payable 400,000
As at the time the note is issued, no interest expenses has been incurred, all the answer with Interest expenses can be eliminated.
In fact, interest expenses is only incurred and accrued during the lifetime of the note, based on the number of days the note is hold; that is, from the day the fund is lend out to Drake Builders Company; not on the day of issuance.
Answer:
$ 10,000 USD
Explanation:
Insurance companies are obliged to report to the federal government through form 8300 about transactions that exceed $ 10,000 or even transactions of a lower value that for some reason arouse the impression of suspicious activity; since criminals are normally aware of this rule and try to avoid the law as much as possible. This arrangement has been proposed by the government to control illicit activity and to comply with the anti money laundering program.
Answer:
retail charge cards
Explanation:
A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.
Hence, the use of credit cards by consumers broadens a small company's customer base.
This ultimately implies that, small businesses or companies who avail their customers the opportunity to pay using a credit card will increase the number of customers that would patronize them because they are typically buying the goods and services on credit.
Generally, there are three (3) main types of credit card and these includes;
I. Debit card.
II. Prepaid card.
III. Retail charge cards.
A retail charge card can be defined as a type of credit card commonly issued by retailers to their customers in order to avail the customers an ability to charge their goods and services to a specific amount that has been established prior to a purchase.
Hence, it is most common in merchant department, car rental firms, oil companies, clothing stores and other high-volume outlets, where customers are likely to make several purchases each month.