Answer:c. Debit Interest Receivable, $4,000; credit Interest Revenue, $4,000.
Explanation:
The interest payable = Principal x Rate x Time (period)
= $100,000 x 12% x 4/12 ( September to December)
$100,000 x 0.12 x 1/3
$100,000 x 0.04
=$4000
Journal entry to record accrued interest at Year end for loan issued on sept 1st.
Date Account titles Debit Credit
Dec 31st Interest Receivable $4000
Interest Revenue $4000
To find the unit rate you will take the price Jerry paid and divide it by the amount in pounds of pears.
Unit rate = $4.59/5.4 lb
Unit rate = $0.85
You can check your answer by multiplying the amount of pears Jerry purchased by the unit price to get the total price.
(5.4 lb of pairs)($0.85) = $4.59