Answer:
See Explanation
Explanation:
(a)
Journal entry to record the transaction is,
Particulars Debit Credit
Land and Building (460000 + 520000) $980,000
Cash Paid $360,000
Mortgage Payable (980,000 - 360,000) $620,000
We assume that 4% interest is chargeable each semiannual payment and that each subsequent payment is charged 4% on the remaining amount of principal minus any preceding principal payments.
(b)
First installment = Principal + Interest payable
= 31,000 + (620,000 * 0.04) = $55,800
(c)
Second payment = 31,000 + [(620,000 - 31000) * 0.04] = $54,560
Since the chart of accounts is not provided you can confirm the the account headings.
Hope that helps.
Answer:
d.No effect on the expenses of the current period.
Explanation:
In the case when the credit balance of the allowance for doubtful debt more than the bad debt amount i.e. written off
So the entry for writing off against the allowance would result in no effect on the expense for the present period
As the bad debt expense is debited and the allowance for doubtful debt would be credited therefore the option d is correct
Answer: Stratified Sampling
Explanation: Stratified sampling is a type of sampling method where the population is divided into groups called strata.
Participants will now be selected from each group at random to participate in the survey.
The answer is; "this is an example of a media schedule".
A media schedule or plan assigns the medium or media to be utilized, the particular vehicles, and the inclusion dates of the promoting. It is utilized by advertisers to plan their promotions subsequent to picking the media for their advertising campaign.
