Answer:
See Explanation
Explanation:
(a)
Journal entry to record the transaction is,
Particulars Debit Credit
Land and Building (460000 + 520000) $980,000
Cash Paid $360,000
Mortgage Payable (980,000 - 360,000) $620,000
We assume that 4% interest is chargeable each semiannual payment and that each subsequent payment is charged 4% on the remaining amount of principal minus any preceding principal payments.
(b)
First installment = Principal + Interest payable
= 31,000 + (620,000 * 0.04) = $55,800
(c)
Second payment = 31,000 + [(620,000 - 31000) * 0.04] = $54,560
Since the chart of accounts is not provided you can confirm the the account headings.
Hope that helps.
Answer:
Correct option is (e)
Explanation:
Advertising message refers to the underlying meaning that needs to be conveyed to the customer. In other words, it's the point that the customer understands after seeing the advertisement.
One of the components of advertising message is appeal which is the element that grabs the attention of the customer. The advertiser emphasis on the appeal that attracts the customer like funny or adventurous appeal.
Here, Jamie is wants to convey the message to the students that travel packages provided by him is the best. He is trying to use informational appeal.
Answer:
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties.
Answer:
The Journal entries with their narration is shown below:-
Explanation:
The Journal entry is shown below:-
1. Account receivable Dr, $29,400
To Sales revenue $29,400
(Being Sales revenue is recorded)
2. Sales return and allowance Dr, $2,200
To Account receivable $2,200
(Being Sales return is recorded)
3. Cash Dr, $26,928
($29,400 - $2,200) × 99%
Sales discount Dr, $272
To Account receivable $27,200
($29,400 - $2,200)
(Being cash is recorded)
