Answer:
DR Interest receivable 26,400
CR Interest revenue 26,400
Explanation:
As first lease has already been paid, the amount left of the lease is;
= 280,000 - 40,000
=$240,000
Interest is 11% so the interest to be received in December is;
= 11% * 240,000
= $26,400
This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.
Define the markets, people, and environments you are addressing
Based on the percentage of readers who own a particular make of the car and the random sample, we can infer that there is sufficient evidence at a 0.02 level to support the executive claim.
<h3>What is the evidence to support the executive's claim?</h3>
The hypothesis is:
Null hypothesis : P = 0.55
Alternate hypothesis : P ≠ 0.55
We then need to find the test statistic:
= (Probability found by marketing executive - Probability from publisher) / √( (Probability from publisher x (1 - Probability from publisher))/ number of people sampled
= (0.46 - 0.55) / √(( 0.55 x ( 1 - 0.55)) / 200
= -2.56
Using this z value as the test statistic, perform a two-tailed test to show:
= P( Z < -2.56) + P(Z > 2.56)
= 0.0052 + 0.0052
= 0.0104
The p-value is 0.0104 which is less than the significance level of 0.02. This means that we reject the null hypothesis.
The Marketing executive was correct.
Find out more on the null and alternate hypothesis at brainly.com/question/25263462
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