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
lara31 [8.8K]
2 years ago
10

On January 1, Parma, Inc. borrowed $100,000 cash from First National and issued a two-year promissory note in that amount. Inter

est of $5,000 was payable semiannually on June 30 and December 31. Which account will be debited when Parma records the entry relating to each of the four interest payments
Business
1 answer:
crimeas [40]2 years ago
4 0

Answer:

Interest expense account

Explanation:

In accounting, interests paid on loan, promissory or any other forms of loan written off to the income statement as an expense in the period in which they are incurred.

Therefore, the interest expense account will be will be debited when Parma records the entry relating to each of the four interest payments. The other leg of the account is to credit the profit and loss account to complete the record.

You might be interested in
Sew much fabrics buys fine linens, silks, and other fabrics from sellers in more than 30 countries to retail to local customers.
Viefleur [7K]

Sew much fabrics is an example of a company that imports.

<h3>What does import mean?</h3>

Import is when a good or service is brought into a country from a foreign country.  An example of import is when a person living in the US buys silk from Italy.

Reasons for import

  1. There may be more varieties in foreign countries.
  2. The imported good could be of a better quality.

To learn more about imports, please check: brainly.com/question/26497713

3 0
2 years ago
Garfield Corp. expects to sell 1,300 units of its pet beds in March and 900 units in April. Each unit sells for $110. Garfield’s
Svetach [21]

Answer:

$47,200

Explanation:

For computing the budgeted purchase, first we have to determine the purchase unit which is shown below:

= Sale units + ending inventory units - beginning inventory units

where,

Sale units are 1,300 units

Ending inventory units = 900 units × 30% = 270 units

Beginning inventory units = 1,300 × 30% = 390 units

Now put these units to the above formula  

So, the units would equal to

= 1,300 units + 270 units - 390 units

= 1,180 units

Now the budgeted purchase would be

= 1,180 units × $40

= $47,200

4 0
3 years ago
Describe the economy of the islands in the west indies.
Firdavs [7]

Answer:

Agriculture is the traditional basis of the economies of the West Indies.

<h3>What is the economy of the West Indies?</h3>
  • Agriculture is the traditional basis of the economies of the West Indies, but production and employment in agriculture have been declining.
  • Most countries are not self-sufficient in food production, and cereals, primarily wheat, are the chief food imports.

To learn more about the west indies, refer

to brainly.com/question/26386481

#SPJ4

7 0
1 year ago
Which of these are reasons for the increase in ethical violations among business leaders in the 21st century?
pychu [463]

Answer: The following are reasons for increase in ethical violations among business leaders in the 21 century:

1. The 24/7 news cycle place a more scrutiny on unethical behaviour.

2. Globalization allows business to operate in region where ethical risk are greater.

3. Digital communication are more susceptible to hackers and whistle blowers.

Explanation:

7 0
3 years ago
Price elasticity of demand along a linear, downward-sloping demand curve increases as price falls.
Ksivusya [100]
False.

It DECREASES. The midpoint of the demand curve will be unitary elastic, whereas above it, it will be elastic and below it, it will be inelastic.
8 0
3 years ago
Other questions:
  • Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES
    15·1 answer
  • What type of investment offers both capital gains and interest income?
    10·1 answer
  • Sold merchandise on credit to Rondo Distributors, for $1,200, terms n/30. The cost of the merchandise was $720. 8 Purchased merc
    5·1 answer
  • When there few close substitutes available for a​ good, demand tends to be
    15·1 answer
  • If the month-end bank statement shows a balance of $36,000, outstanding checks are $10,000, a deposit of $4,000 was in transit a
    11·1 answer
  • A net worth statement, insurance plan, and a budget are all part of a ____
    8·1 answer
  • The technical and socio-cultural dimensions of project management are two sides of the same coin. Explain
    11·1 answer
  • What is one TRUE statement about the stock exchange?
    6·1 answer
  • What are 3 benefits of the Pay down credit card feature in Quickbooks Online?
    13·1 answer
  • What is the BEST way to stay organized? Person with a descriptive and correct one sentence answer will receive brainliest for th
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!