Basically examining the promblem
Answer:
a. Issuance of note:
Date Account title Debit Credit
XX-XX Accounts Payable $84,000
Notes Payable $84,000
b. The payment of the note at maturity, including interest. Assume a 360-day year.
Interest payment = 84,000 * 5% * 120/360
= $1,400
Date Account title Debit Credit
XX-XX Note Payable $84,000
Interest payable $1,400
Cash $85,400
Answer: D- 9.12%
Explanation:The current net income percentage is calculated thus:
Current year net income = $59,120
Prior year net income = $53,700
diff in btw the two period = $59, 120-$53,700 = $5,420
current year net income percentage = $5,420/$59,120 = 0.0912779 *100
= 9.12%
<span>Importers' bank usually issues a time draft to importers in international transactions.
A time draft is a form of payment guaranteed by the bank to be paid but is not paid in full until after the transaction is made. This helps insure someone is going to get paid but acts as a downpayment until the delivery is finished. These are commonly used in international trade transactions to stand as a "good credit" for the importer. </span>
أود أن تكون فإن الإحصائيات الثابتة والمتنقلة
