Answer:
Cash account in the amount of $10,100
Explanation:
The journal entry to be recorded for the receipt of payment is as:
Cash A/c.............................................Dr $10,100
Note receivable A/c...................Cr $10,000
Interest Revenue A/c..................Cr $100
Being recoded the receipt of payment
As payment is received so asset is increasing and any increase in asset is debited. Therefore, cash account is debited. And the note receivable got decrease will be credited and the interest revenue is also credited.
Computation of interest revenue is as:
Interest revenue = Amount × % of note × Days / Number of days in a year
= $10,000 × 6% × 60 / 360
= $100
Note: Assume 360 days in a year
Answer:
The correct answer is D
Explanation:
Under the doctrine of the stare decisis, the court will look into the past or the similar issues in order to guide their decisions related to the issues. And the past decisions are referred or acknowledged as the precedent.
Precedent is the principle or rule which is legal and it is established or created by the decision of the court. And this decision become the authority or the example for judging or deciding the similar issues.
Therefore, in this case, the trial court when deciding upon the case of D v E, will likely to allow or permit the minor to cancel the contract or the agreement.
expensive...............................
1. Government
2. Military
3. Protection
Hope this helps.
Answer:
B
Explanation:
Opportunity cost is the valje of the next best alternative forgone when a choice is made.
