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Answer:
Explanation:
The college student loan burden is second only to mortgages in consumer debt In the United States. The government estimates that some 41 million students together owe more than $1.2 trillion. In North Carolina, what is the relationship between student loan debt and the tuition/fees that the students pay? After obtaining data for 14 four-year universities in the State University System of North Carolina (data for Elizabeth City State University and Winston Salem State University were not available), suppose we assume a simple linear modelyi= β0+ β1xi+ εito describe this relationship, where xi is the academic year tuition/fees at school In i
and yi is the average student loan debt of graduates of school i, i = 1, ..., 14. Shown below are summary statistics for the 14 schools.
NB: please check the attached document for complete work.
Both have the same interest rate which is 3%.
<h3>
What is interest?</h3>
- In finance and economics, interest is the payment of an amount above the repayment of the principal sum by a borrower or deposit-taking financial institution to a lender or depositor at a specific rate by a borrower or depositor.
- It differs from a fee that the borrower may pay to the lender or a third party.
To find the higher interest rate:
Given that,
- Interest rate per month = 0.25%
- Interest rate per quarter = 0.75%
If we calculate the annual interest for monthly and quarterly rates, it will be:
Monthly
- No. of months in a year = 12
- Monthly rate = 0.25%
So,
- Annual Interest = 0.25 × 12
- = 3%
Quarterly
- No. of quarters in a year = 4
- Quarterly rate = 0.75%
So,
- Annual Interest = 0.75 × 4
- = 3%
Therefore, both have the same interest rate which is 3%.
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Answer:
$20,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
However, in the direct writeoff method, estimates of uncollectible receivables are posted directly into the accounts receivable and not into the allowance account.
The amount in the accounts receivable before write off
= $150,000 - $83,000
= $67,000
Amount written of is $20,000, this will be posted as a debit to bad debt expense and a credit to accounts receivable.
Answer:
A. The Receipt Capture feature uses Optical Character Recognition (OCR) technology to read and transform receipt data to QuickBooks Online. ⇒ TRUE
B. If QuickBooks Online finds an expense already entered in QuickBooks Online, it will suggest that you match the receipt to the existing transaction. ⇒ TRUE
C. You can snap a picture of a receipt, then review, match, or add it directly from the QuickBooks Online mobile app. ⇒ TRUE
D. QuickBooks Online will fill in the fields it can for the expense using the OCR data. ⇒ TRUE
Explanation:
the other options are false because:
- E. You can assign a payee, account, payment date, category, description, amount, and memo to the expense transaction in the Review screen.
- F. You can only have one sender email registered to forward receipts in each company. ⇒ FALSE, you can connect to multiple accounts, generally for different clients. You can use the "Add new sender" link.
