Answer and Explanation:
The journal entry is shown below:
Accounts payable $1,500
To Merchandise Inventory $1,500
(being purchase returns is recorded)
here account payable is debited as it decreased the liabilities and credited the merchandise inventory as it decreased the assets
I think the most appropriate answer would be C. As the student should complete their student loan first,abd then take the housing/vehicle loan.
I hope it helped you!
Answer: $40,000
Explanation:
Interest that is accrued as a result of a building should be capitialized to the cost of that building. The amount of interest payment that is due to the building will simply be the interest payment that the company would have avoided incurring had it not undertaken the construction of the building.
This amount is represented by the interest computed on the weighted-average amount of accumulated expenditures which in this case is $40,000 so that is the amount that should be capitalized by Cole Co.
The first Year of your business’s operations
