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Svetlanka [38]
3 years ago
5

Demonstrate the required adjusting entry needed to record a $1,000 note receivable collected by the bank by choosing the correct

entry below. Debit Cash $1,000 and credit Accounts Receivable $1,000. Debit Cash $1,000 and credit Notes Receivable $1,000. Debit Notes Receivable $1,000 and credit Cash $1,000. Debit Cash $1,000 and credit Notes Payable $1,000.
Business
1 answer:
MrRissso [65]3 years ago
5 0

Answer:

Debit Cash $1,000 and credit Notes Receivable $1,000.

Explanation:

The adjusting entry is shown below:

Cash Dr $1,000

    To Notes receivable $1,000

(Being the note receivable collected by the bank is recorded)    

While recording the transaction, we debited the cash account as it increases the cash balance and credited the note receivable.

Hence, the second option is correct

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Depending on your income I recond 15% of every paycheck but put it to the emergency funds.

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Your company has compiled the following data on the small set of products that comprise the specialty repair parts division. Per
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Answer : R11 & U44

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The nation of Ectenia has 20 competitive apple orchards, which sell apples at the world price of $2 per apple. The following equ
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The  market's labor demand is L=500−2.5W

Since labor demand as a function of the daily wage is L 50-0.25W.

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Inconclusion The market's labor demand is L=500−2.5W

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4 0
3 years ago
Bill Schultz works at a high power investment firm in Los Angeles. Bill is responsible for promoting the firm's vision and creat
kramer

Answer:

Strategic level

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Bill is at the strategic level of the organisational pyramid. He is responsible for allocating the resource of the organisation and taking decisions on behalf of the owners. Bill is at the strategic level because he is also required to make a strategic decision and goals for the company.  The strategic level of management is one of the important parts of any organisation, as the strategic performance of the company relies heavily on strategic management.

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3 years ago
Monty loaned his friend Ned $12,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remain
irinina [24]

Answer:

$ 6,600

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Monty should $\text{includ}$e up to $\$ 8,100$ in the gross account but to an extent of the tax benefit in the previous year. Since the debt is a non-business debt, the amount of $\$ 9,000$ would be reported as the short term business capital loss.

In the previous year, Monty had a capital gain of $\$ 3,600$ and $\$33,250$ as taxable income.

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7 0
3 years ago
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