Answer:
Dr Interest Receivable 4,000
Cr Interest Revenue 4,000
Explanation:
Preparation of XYZ Corporation Adjusting entry
Since the XYZ Corporation loaned the amount of $600,000 to another corporation on December 1, 2020 in which XYZ Corporation received a 3 month and 8% interest-bearing note with a face value of $600,000, the first step to take is to find the interest bearing note which is calculated as 4,000(1/12×8%×600,000) and the second step is to record the transaction as :
Dr Interest Receivable 4,000
Cr Interest Revenue 4,000
(1/12×8%×600,000)
<span>The main assumption that has to be true for Adam Smith's theories to be valid is that everyone is acting in a way that most benefits them and nobody else. Since resources are seen as limited, people are thought to act in ways that most benefit them and nobody else. These assumptions might be valid in many cases, but the concept of charity shows that they are not always the case, and the invisible hand might be guiding people at times, but not always.</span>
<u>Answer:</u>
<em>ICS or ICS-like EOC structure aligns with the on-scene incident organisation.</em>
<u>Explanation:</u>
A Emergency operation centre focus (EOC) is a headquarters and control office in charge of completing the standards of crisis readiness and crisis the board, or calamity the executives capacities at a key level during a crisis, and guaranteeing the congruity of activity of an organization, political.
ICS is far reaching being used from law implementation to consistently business, as the essential objectives of clear correspondence, responsibility, and the productive utilization of assets are regular to the occurrence and crisis the board just as every day activities.
Answer:A debit to interest expense for $36,000
Explanation:
interest expense= 800,000-80,000 = 720,000 5% 12/12
