1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
arsen [322]
3 years ago
15

On October 1, 2015, Zircon Jewelry Company accepted a 4-month, 10% note for $2,400 in settlement of an overdue account receivabl

e. Interest revenue was accrued through December 31, 2015. Zircon receives the maturity value of the note on the due date. Give journal entry to record the collection of funds.
Business
1 answer:
Whitepunk [10]3 years ago
7 0

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $2,480

         To Interest receivable $60

         To Interest revenue $20

         To Note receivable $2,400

(Being the collection of funds is recorded)

The computation of interest receivable is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $2,400 × 10% × (3 months ÷ 12 months)

= $60

And for interest revenue would be

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $2,400 × 10% × (1 months ÷ 12 months)

= $20

You might be interested in
Eleven uses performance management for administrative purposes. The administrative purposes focus on issues such as
andrew11 [14]

It focus on issues such as determining who will be getting raises in administrative purposes .

<h3>Administrative purposes </h3>

Administrative purposes means any purpose necessary for the operation and proper functioning of the administrative, educational and medical services carried out by an approved developer in a zone.

Administrative purposes include administrative issues, including the working of the corporations, funding from the State government, disbursement of counsillor funds and shortage of staff, got about two to three times more attention than solid waste management, education and health.

Learn more about administrative purposes here:

brainly.com/question/11671451

#SPJ4

6 0
2 years ago
Based in topic study materials, discuss how servant leadership contributes to competitive advantage in contemporary organization
Digiron [165]

Answer:

A servant leadership takes some additional season of theirs to engage the association’s culture that will cause the representatives to have great morals and in this way offer great administrations. It will be useful to the workers as they would have the option to deliver more in light of the fact that there will be a culture to concentrate in this manner would improve the gainfulness of the association, and in the long run improving the upper hand of the organization.  

A servant leadership demonstrates regard to representatives and by along these lines the workers get roused to give the association a decent notoriety helping it to increase serious. For example, in a client care association, the chief should demonstrate regard to the representative indicating hireling authority by giving the understanding the worker.  

Servant leadership pioneers consistently put their kin in any case. Treating the workers with genuineness, uprightness, and care and urging them an opportunity to time. For example, in a client relations association, the supervisor is required to give its representatives the right data about the association with the goal that they can advance the right data to the customers so as to improve the upper hand.  

A servant leadership has a solid conviction that accomplishment of an association can be accomplished by the commitment of each individual in the association. Consequently, the worker head will make solid groups that will collaborate and in the long run would make the business remarkable those different contenders

5 0
3 years ago
Debbie Brooks and Martha Tingstrom lived together. Tingstrom handled their finances. For five years, Brooks did not look at any
GaryK [48]

Answer:

Forgery refers to the crime pertaining to, alternation of legal obligation or rights in writing of another person. It is the production of the spurious work which is being considered to be genuine such as a painting, and coin. It is the action underlying imitation or forging a copy of the document, banknote, work of art and signature.

In the case, Debbie Brooks is solely responsible for the loss caused to her by the forged transaction. The fraud took place due to the recklessness of Debbie Brooks as she allowed Martha Tingstrom to handle her financial resources and accounts which in itself is a mistake. She failed to notice the transaction details promptly issued to her periodically  by her bank and provided the details of such transaction to the bank within a period of 30 days. The bank is not liable as it has perform its obligation to the fullest. Therefore, it is ascertained that Debbie Brooks is solely responsible for the loss caused to her by the forged transaction made by Martha Tingstrom.

Explanation:

4 0
3 years ago
Read 2 more answers
At the end of a full year mary garber had $6248.95 in her saving account. If the rate of interest was 12.253%, how much money di
allochka39001 [22]

Answer:

$5,566.84

Explanation:

to determine the amount of money that Mary had in her account at the beginning of the year we can use the resent value formula:

present value (PV) = future value (FV) / (1 + interest rate)ⁿ

where:

  • FV = $6,248.95
  • interest rate = 12.253%
  • n = 1

PV = $6,248.95 / (1 + 12.253%) = $6,248.95 / 1.12253 = $5,566.84

4 0
3 years ago
For the following, mark a "D" if the following account normally has a debit balance and mark a "C" if the following account norm
otez555 [7]

1.Notes Payable  D

2. Mortgage Payable D

3. Drawing D

4.Accounts Receivable C

5. Capital C

6. Rent Revenue C

7. Unearned Revenue C

8. Utility Expense D

9. Automobiles

Explanation:

1.Notes Payable  D

2. Mortgage Payable D

3. Drawing D

4.Accounts Receivable C

5. Capital C

6. Rent Revenue C

7. Unearned Revenue C

8. Utility Expense D

9. Automobiles

  • A debit is an accounting entry that may either increases an asset or expense account,
  • It also decreases a liability or equity account.
  • A credit is an accounting entry that may either increases a liability or equity account,
  • It also decreases an asset or expense account.
7 0
3 years ago
Other questions:
  • Which student best fills the role of group notetaker? Yuna, who is positive and considers other viewpoints Hiroto, who is focuse
    8·1 answer
  • Mary kay, avon, and other cosmetic manufacturers produce and market their products on a worldwide basis including countries like
    9·1 answer
  • Which of the following statements is FALSE? a. Cause-and-Effect forecasting assumes that one or more factors are related to dema
    14·1 answer
  • The salary foregone by a person who quits a job to start a business is an example of a(n) ________. Select one: A. depreciable c
    15·2 answers
  • When I buy a $12.00 movie ticket rather than two paperback books, the
    8·1 answer
  • Of the following, what actions would be most helpful as Andrew develops his own brand? Check all that apply. Emphasis his degree
    8·1 answer
  • What questions should someone ask themselves before taking a job?<br><br> what is your answers.
    13·2 answers
  • At the point where actual inflation is equal to expected inflation
    5·1 answer
  • Good, a C corporation, sells an automobile to its sole shareholder for $4,500. Good's adjusted basis in the automobile is $12,00
    14·1 answer
  • Farmers Pantry Products Inc. and Market Grocers LLC dispute a term in their contract. If Farmers Pantry and Market Grocers have
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!