Answer:
The journal entry that Teal would make to record payment of this note would include a credit to: c) Interest revenue for $200
Explanation:
On March 14, Teal Co. accepted a 120 days, 6% note in the amount of $10,000 from AZC Co.
The entry:
Debit Note receivable $10,000
Credit Accounts receivable $10,000
Assuming that a year of calculating interest has 360 days. On the due date of the note, AZC honors the note and pays in full, include the interest of 120 days:
$10,000 x 6% x 120/360 = $200
The entry that Teal would make:
Debit Cash $10,200
Credit Note receivable $10,000
Credit Interest revenue $200
Answer:
I would say C
Explanation:
I motivate myself for college, by trying to get scholarships myself
C. prototyping, does it makes sense now.
Answer:
A
Explanation:
net-net refers to 2 of the operating expenses in Commerical property. Triple Net refers to all of the taxes, maintenance and insurance or TMI
Answer:
A.
Factory Overhead, $12,600 Dr.
Utilities Payable, $6,500 Cr.
Accumulated Depreciation, $2,500 Cr.
Wages Payable, $3,600 Cr.
Explanation:
All the given Expense are classified as the factor overhead and They are accumulated in a single account of factory overhead. Utilities are classified as factory overhead as it is not directed attributable to a specific single product or department. Depreciation is also considered as an overhead due to its nature of expense. Wages are also treated in the same way. All they expenses are added together to be charged in a single head of Factory overhead by $12,600.
