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notka56 [123]
3 years ago
11

Valley spa purchased $7,800 in plumbing components from tubman co. valley spa signed a 60-day, 10% promissory note for $7,800. i

f the note is dishonored, but tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (use 360 days a year.) multiple choice debit bad debt expense $7,800; credit notes receivable $7,800. debit accounts receivable—valley spa $7,930, credit interest revenue $130; credit notes receivable $7,800. debit bad debt expense $7,930; credit accounts receivable $7,930. debit accounts receivable $7,930; debit bad debt expense $130; credit notes receivable $8,060. debit accounts receivable—valley spa $7,800; credit notes receivable $7,800.
Business
1 answer:
lapo4ka [179]3 years ago
8 0

Answer:

The journal entry is given as follows;

Explanation:

Accounts Receivable-Valley Spa           Dr.$7,930

Interest Revenue         (7,800*10%*2/12) Cr.$130

Notes Receivable                                    Cr.$7,800

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Answer:

B

Explanation:

I think you've already figured this out for yourself, but I thought I'd answer anyway and maybe clarify some things.

Supply is the total amount of a <u>good or service</u> that is available to consumers.

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In 1895, the winner of a competition was paid $150. In 2006, the winner's prize was $70,000. What will the winner's prize be in
Jobisdone [24]

Answer:

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Explanation:

first we solve for the rate:

2006 - 1895 = 111 years

Nominal (1+r)^{n} = FV\\150 (1+r)^{111} = 70,000\\\\r = \sqrt[111]{70,000 / 150 } -1

r =  0.06  

Now we apply this rate for the year 2040:

2040 - 2006 = 34 years

Principal \: (1+ r)^{time} = Amount

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6 0
3 years ago
Moe ’s Electric sales vacuum cleaners with a one-year warranty to fix any defects. For the current year, 200 vacuums have been s
vekshin1

Answer:

$900

Explanation:

Given that

Total repair up to end of year = 12

Estimated need to be repaid = 8

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The computation of warranty expense for the current year is shown below:-

For computing the warranty expense for the current year first we need to find out the total repaired cost which is here below

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Warranty expense for the current year = Average cost × Total

= $45 × 20

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Therefore for computing the warranty expense for the current year we simply applied the above formula.

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