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Scilla [17]
3 years ago
6

On the first day of the fiscal year, Hawthorne Company obtained an $88,000, 7-year, 5% installment note from Sea Side Bank. The

note requires annual payments of $15, 208, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $4, 400 and principal repayment of $10, 808. The journal entry Hawthorne would record to make the first annual payment due on the note would include a debit to cash for $15, 208 credit to notes payable for $10, 808 debit to interest expense for $4, 400 debit to notes payable for $15, 208
Business
1 answer:
olasank [31]3 years ago
4 0

Answer:

Debit to interest expense for $4, 400

Explanation:

The journal entry is shown below:

Interest expense A/c Dr $4,400

Notes payable A/c Dr $10,808

         To Cash A/c $15,208

(Being the due payment is recorded)

For due payment, we debited the interest expense and the notes payable account and credited the cash account as cash is paid for the first annual payment due on the note

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Answer:

Product Owners focus on Features while Product Managers focus on Stories

Explanation:

Definition of Done can be regarded as

set of items that is been agreed on, which must be completed before any project under Execution can be regarded as been completed. It's when conditions or criteria that a product should be satisfied, accepted by user. Definition of done is crucial for quality to be ensured. Hence, the statement that characterizes the perspectives of the definition of done (DoD) is Product Owners focus on Features while Product Managers focus on Stories

6 0
2 years ago
During a visit to new york city, noah is approached by steve guttenburg, who asks noah if will accept a free button from him. no
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2 years ago
CPA Inc. is a publicly traded company. The stockholders of this company delegate the authority to make decisions for the company
lapo4ka [179]

Answer:

The appropriate approach is "Principal-agent problems".

Explanation:

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4 0
2 years ago
Suppose that the rural part of a country is hit by a major earthquake
stiv31 [10]

Answer:

(a) How this episode is likely to affect the economic well-being of people in the country

In the short-run, there will be an increase in labor demanded, increasing jobs to build homes and repair the damage caused by the earthquake. In the long-run, things will begin to go back to normal.

(b) How this episode is likely to affect the economy’s measured GDP

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6 0
2 years ago
Baseball Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,600. Budgeted cash rec
professor190 [17]

Answer:

Company should borrow = $15200

Explanation:

Below is the calculation for the borrowing amount:

Cash balance at the beginning = $18600

Add - Cash receipts = 186000

Less- Cash disbursements = (189200)

Budgeted cash balance = 18600 + 186000 - 189200 = 15400

Borrowing will be = Ending cash - 15400

Borrowing will be = 30600 - 15400

Borrowing will be = $15200

Company should borrow = $15200

6 0
2 years ago
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