Answer:
November 1, 2016
Dr Cash 120,000
Cr Notes Payable 120,000
December 31, 2016
Dr Interest Expense 2,000
Cr Interest Payable 2,000
February 1, 2017
Dr Notes Payable 120,000
Dr Interest Payable 2,000
Dr Interest Expense 1,000
Cr Cash 123,000
Explanation:
Dunlin Development Company Journal entries
November 1, 2016
Dr Cash 120,000
Cr Notes Payable 120,000
December 31, 2016
Dr Interest Expense 2,000
($120,000 ×10% ×2/12)
Cr Interest Payable 2,000
February 1, 2017
Dr Notes Payable 120,000
Dr Interest Payable 2,000
Dr Interest Expense 1,000
(120,000×10%×1/12)
Cr Cash 123,000
Answer B : Truth in Lending Act
Answer:
This quote highlights Adam Smith - Self Interest, Free Reign, Invisible Hand theories
Explanation:
Adam Smith is the Father of Economics.
His self interest theory states that : Individuals working for the best of self interest implies maximum welfare for society as a whole.
Hence, the free reign idea suggests that people as 'self interest' guided rational economic agents should be left free. The invisible hand of market restores any distortions.
Government intervention is considered to be not only unnecessary, but distortionary.
If Sam Farber launched never-before-seen products that are targeted towards people with dexterity problems. The stage of buyer readiness was his target market is awareness.
Buyer ready is said to be a defined state which tend to indicate a customer's eagerness or readiness in order to purchase a particular good or service. So, there are six phases of buyer readiness, they are knowledge, awareness, like, conviction, preference, and purchase.
Here, the market awareness can be defined as a form of advertisement or marketing in order to create awareness about a new product which has not been seen in the market before.
Hence, awareness is the stage of the buyer readiness.
To learn more about the buyer readiness here:
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