Answer:
The journal entry would be:
Explanation:
Note: Options are missing so providing the journal entry.
The journal entry would be for recording the collection of the note is:
October 30
Cash A/c.........................Dr $10,150
Interest Revenue A/c.........Cr $150
Notes Receivable A/c.........Cr $10,000
On October 30, the amount is collected so the any increase in cash is debited. Therefore, cash account is debited. And it is collected against a notes Receivable of $10,000 so it leads to decrease in liability, it is credited. Therefore, the notes receivable is credited. And the interest revenue is credited.
Compressed wood could be one company's output, meaning that the company sells compressed wood (after manufacturing it). The same compressed wood could then be considered an input for another company that makes Wooden clocks. It buys the compressed wood from company A to use in its manufacturing process of making clocks.
Bonus interest is it's name
Answer:
Franchise.
Explanation:
A Franchise is a system in which semi-independent business owners (franchisees) pay fees and royalties to a parent company (franchiser) in return for the right to become identified with its trademark, to sell its products or services, and often to use its business format and system.
Is a network of interdependent business relationshipsthat allows a number of people to share:
1. A brand identification
2. A successful method of doing business
3. A proven marketing and distribution system
Answer:
The answer of the exercise is attached.
Explanation:
Bad debt expense is an expense account and expense accounts have debit balance. Whenever an expense account is to be increased, it is debited.
Allowance for doubtful debts is a contra asset account and contra asset accounts have credit balance. Whenever a contra asset accounts balance is to be increased, it is credited.
Therefore, to record the estimated uncollectibles, bad debt expense account is debited to book the expense and allowance for doubtful accounts is credited to reduce the balance of accounts receivable.