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
nordsb [41]
3 years ago
11

ABC, Inc. discounts a 5%, 9-month, $1,000 note with a financial institution after holding the note for 3 months. The note was re

ceived on the sale of an asset to another party. The discount percentage is 7%. The proceeds to ABC, Inc. equal $1,001.19.
Business
1 answer:
Gnoma [55]3 years ago
8 0

Answer:

interest receivable   12.50    debit

     interest revenue     12.50 credit

--adjusting entry for the interest accrued--

interest expense      11.31 debit

cash                     1,001.19 debit

     note receivable             1,000.00 credit

     interest receivable             12.50 credit

--to record early discount of the note--

Explanation:

We are going to write-off the note and check for the interest expense:

book value of the note:

principal  + interest accrued

principal x rate x time = interest

1,000 x 0.05 x 3 months/12 month a year  = 12.50

we had interest receivable for 12.50

1,000 + 12.5 = 1,012.5 we receive 1,001.19

interest expense: 11.31

We are following this process to avoid compensate balance as is the company earned interest during those three months and then it pay interest to get cash earlier.

You might be interested in
A recent study found that the death rate for people who sleep 6 to 7 hours per night is lower than the death rate for people who
vaieri [72.5K]

Type of employment, indicator for chronic illness, drug, or alcohol use these variables are likely useful to add to the regression to control for important omitted variables.

What is sleep pattern?

The word sleep pattern, commonly referred to as a sleep-wake pattern, refers to a person's schedule for going to bed and getting up as well as their napping habits. The frequency and length of sleep disruptions may also be part of the sleep pattern.

Type of employment, Chronic illness and drug/alcohol use they ought to be included in regression since they disturb sleep patterns.

As a result, option (a) Type of employment. (b) Indicator for chronic illness. (c) Drug or alcohol use is correct.

Learn more about on sleep pattern, here:

brainly.com/question/25287169

#SPJ1

3 0
2 years ago
In the nervous system neurotransmitters such as acetylcholine are released at synapses between nerve cells. When the neurotransm
loris [4]

Answer:

Neuronal Signal Propagation

Explanation:

Signal propagation is the movement of signals between neurons. The process of sending these signals takes place in two steps: along the cell ( action potential) and between cells (neurotransmitters).

5 0
3 years ago
An investor places $5,000 in an account. The stated annual interest rate is 6% compounded monthly. The value of the account at t
Nostrana [21]

Answer:

$5,983.40

Explanation:

Data provided in the question:

Principle amount = $5,000

Interest rate, r = 6% = 0.06

Time, t = 3 years

Compounded monthly i.e number of periods n = 12

Now,

Final amount = Principle × \left( 1 + \frac{r}{n} \right)^{\Large{n\times t}}

or

Final amount = $5,000 × \left( 1 + \frac{0.06}{12} \right)^{\Large{12\times3}}

or

Final amount = $5,000 × 1.005³⁶

or

Final amount = $5,000 × 1.196

or

Final amount = $5,983.40

7 0
3 years ago
Parido Corporation has two manufacturing departments--Casting and Assembly. The company used the following data at the beginning
Ivan

Answer:

Allocated MOH= $26,372

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Total fixed overhead= 48,200

Total variable overhead= (1.9*8,000) + (3*2,000)= $21,200

Predetermined manufacturing overhead rate= (48,200 + 21,200) / 10,000

Predetermined manufacturing overhead rate= $6.94 per machine hour

<u>Now, we can allocate overhead to Job H:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 6.94*(2,600 + 1,200)

Allocated MOH= $26,372

8 0
3 years ago
When should an event programing be used
lozanna [386]

Answer:

The utilization of the given topic is summarized throughout the below section.

Explanation:

  • Event-driven programming language shall be used if the software doesn't somehow monitor the sequential order of such occurrence.
  • The software circulation or activity was mostly directly guided to an external mechanism like a consumer or client (e.g. a GUI), a whole other method (e.g. a customer or a server).
4 0
3 years ago
Other questions:
  • List two components of visual aids that you have used recently. Describe how you used them.
    15·2 answers
  • McKay Company sells lamps and they have decided that they would make the price of their lamps 30% more than what it cost the com
    13·2 answers
  • Which of the following demonstrates the ability to accept constructive criticism well?
    14·1 answer
  • CMr. Garcia is listening to an investment planner talking about mutual funds; Garcia really believes in investing in such funds
    8·1 answer
  • Data for Hugh’s Corporation is provided below. Hugh’s recently acquired some risky assets that caused its beta to increase by 30
    5·1 answer
  • Which of the following statements about the relationship between interest rates and bond prices is true? I) There is an inverse
    6·1 answer
  • Economic growth can best be portrayed as a:
    12·1 answer
  • ¿Qué nuevos productos puede incluir un restaurante en su oferta? ¿Por qué?
    14·1 answer
  • Which of the following best exemplifies a public good?
    8·1 answer
  • Trainers at Lako Systems try to maximize the transfer of learning by demonstrating processes on the manufacturing floor rather t
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!