When one keeps paying only the minimum amount, they will find getting out of debt harder because:
- More interest will accrue on the balance left
When a person pays the minimum balance that they are supposed to pay on a loan, they will be leaving a larger portion of money to be paid back.
This amount will accumulate interest such that the debt will keep increasing because the interest needs to be paid back as well.
In order to get out of debt faster, it is recommended that you pay higher than the minimum because this would reduce the amount that interest is charged on which means that you would owe less interest.
In conclusion, paying the minimum balance leads to more interest accumulating which makes getting out of debt difficult.
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Answer:
The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.
Explanation:
The number of days that a loan debt stays unpaid is referred to as the outstanding number of days.
In line with the general accounting rules, all expenses must be debited. Therefore, the interest expense has to be debited.
Interest payable, however, is the amount owed to a lender by a firm and is thus credited as the matching journal entry to the interest expense.
Therefore, we have:
The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.
Answer:
D) generates the highest contribution margin per stamping machine hour
Explanation:
Since the stamping machine is Kinsi's constrained resource, or bottleneck resource, in order to maximize its profit, the company should manufacture the products that maximize the utility of the stamping machine. The product that maximize the utility are the one that have the highest contribution margin. Therefore Kinsi must produce the products that have the highest contribution margin per stamping machine hour.
Answer:
b. job and technical training
Explanation:
The job and the technical training is the training which is to be provided by the company or the centers to the workers or the people who want to trained in a particular service or specialized in a service in order to get a better and satisfying job through which they can build their career in a better way
In the given situation, the fitness center send the instructors to the certified training program to learn how to use these machines correctly that reflects the job and technical training
