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prohojiy [21]
3 years ago
9

On March 14, Zest Co. accepted a 120-day, 6% note in the amount of $5,000 from AZC Co., a customer. On the due date of the note,

AZC dishonors the note and fails to pay. The journal entry that Zest would make to record the failure to pay this note on the due date would include a debit to:
Business
1 answer:
egoroff_w [7]3 years ago
4 0

Answer:

Note = $5,000

Interest rate = 6%

Time period = 120 days

The journal entry is as follows:

On July 12,

Account receivable A/c     Dr. $5,100

To Notes receivable                            $5,000

To Interest revenue                       $100

(To record note dishonor)

Workings:

Interest revenue = $5,000 × 0.06 × (120÷360)

                            = $100

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The Coase theorem states that when transaction cost are low, two parties will be able to bargain and reach an efficient outcome in the presence of an externality.

8 0
3 years ago
The Allowance for Bad Debts account has a credit balance of $ 5 comma 000$5,000 before the adjusting entry for bad debts expense
GaryK [48]

Answer:

62,200 allowance ending

Explanation:

allownce 5,000 credit

<u>Because the bad debt is calculate over the sales,</u> the bad debt expense is the result of that estimated, without considering the beginning balance of the allowance.

22% of net credit sales will be uncollectible:

260,000 x 22% = 57,200

<u>Now ending balance will be beginning + uncollectible for the period</u>

5,000 beginning

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4 0
3 years ago
Read 2 more answers
your company’s marketing manager implements the company’s new marketing strategy and tactics on the market. what types of inform
stiks02 [169]

The type of information the marketing manager needs to monitor to judge the plan's successful implementation and strategic effectiveness are profits, customer relations, sales information, and competitor reactions.

A marketing strategy is one whose objective is to position the company in relation to competitors, through the creation of value that will help attract and retain consumers.

There are several tools that can help shape an organization's marketing strategy, such as:

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8 0
2 years ago
Precision Paper Products produces both paper towels and paper napkins. The production process begins with the receipt and pulpin
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Answer:

d. The maintenance costs associated with the napkin folding machine.

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3 years ago
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Answer:

$76,260

Explanation:

Calculation to determine the total period cost for the month under variable costing

Using this formula

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3 years ago
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