Answer:
The required adjusting entries before the financial statements can be prepared are:
Debit Note receivable $39,600
Credit Cash $39,600
<em>(To record note receivable)</em>
Debit Interest receivable $264
Credit Interest revenue $264
<em>(To record interest receivable on note - March 31)</em>
Explanation:
Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.
Interest revenue on the note is calculated as: Principal x Interest Rate x Time
In this case, the total interest revenue is $39,600 x 8%/12 x 4 months = $1,056.
Monthly interest revenue is therefore $1,056 / 4 months = $264.
Answer and Explanation:
The journal entry is given below:
Equipment/Computer $3,300
Accumulated depreciation-Truck $18,000
To Truck $20,000
To Gain on disposal of truck $800
To Cash $500
(Being the exchange is recorded)
Here the equipment and accumulated depreciation is debited as it increased the asset and credited the truck, cash and gain as it decreased the assets and increased the revenue
Barriers to entry are mechanisms to protect a given market against competitors entering specific contexts. Barriers to entry are associated with stimulating the development of new technologies. Patents are a traditional example of an entry barrier.
The need for patents is explained for economic and strategic reasons. A company that develops a technology such as innovative medicine or electronics incurs high development costs. Therefore, the government gives this company a temporary monopoly of the product by granting the patent. If upon completion of the product other companies could copy the product, no company would have been encouraged to spend large sums on technology development. Therefore, the patent is a barrier to entry that has a strategic imprint on technological development.
<span>MasterCard uses a history of credit card transactions to provide information for targeted marketing. marketing and business planning. For example, your bank may notice a customer purchasing numerous airline flights and generate an offer for a credit card that offers airline miles as a reward. It can also go directly to the airlines and negotiate a special offer or deal for it's cardholders.</span>
