Answer:
Notes Payable, $10,000
Explanation:
The journal entry when the amount is borrowed is as:
On January 1
Cash A/c.........................Dr $10,000
Notes Payable A/c......Cr $10,000
Being amount borrowed from bank by signing the note
The journal entry which is to be recorded when made payment in full
On March 1
Notes Payable A/c...............................Dr $10,000
Interest A/c............................................Dr $133
Cash A/c..................................................Cr $10,133
Being the amount paid in full
Working Note:
Interest = Amount borrowed × 8% × Days / Number of days
= $10,000 × 8% × 60/365
= $133
Answer:
4. Associated with the war effort
Explanation:
Economists and historians hold the view that the beginning of World War II in 1939 was a major event that ended the Great Depression. This is as a result of the Government's spending on the preparation forward at the very least accelerated the recovery from the depression.
For instance, it is believed that policies such as the rearmament policies helped to stimulate Europe's economy by reducing unemployment between 1937 and 1939 and the start of the war brought an end to the unemployment siege that was prevalent during the Depression
The reduction in the unemployment rate as a result of spending on the war was also witnessed in the United States as historians and economists believed that US' entry into the war n 1941 drastically reduced the rate of unemployment to below 10%.
What exactly was this spending associated with war efforts, the government in preparation for the war started enacting policies that established numerous contracts on arms and equipment with many private contractors and businessmen and these companies needed to employ people and also commit to these contracts to secure their gains and these were very key in ending the Great Depression.
Answer: "E) Free trade can be beneficial to the economic welfare of all countries involved" is TRUE.
Explanation: Free trade can be beneficial for all countries involved in development because, it causes an increase in resources, as a consequence an increase in the quality of life, international relations are improved and the level of production efficiency is improved.
Answer:
In the question, collection of sales is not given which is credit sales are collected 25% in the month of sale,50% in the month after sale,16% after two month of sale and 9% are never collected.Keeping in mind these pattern of collection of credit sales,the working is attached for ready reference
Explanation:
