The amount of interest that jasper will collect on the loan is $682.50.
Interest = 39000*7%*90/360 = $ 682.50
ENTRY:
Cash $ 30,682.50
Interest revenue $ 682.50
Notes receivable $ 30,000.00
ANSWER:
Debit Cash $39,682.50: Credit interest revenue $682.50; Credit Notes Receivable $39,000.
Interest is the price you pay for borrowing money or the cost you charge for lending money. Interest is usually given as an annual percentage of the loan amount. This percentage is called the interest rate on the loan. For example, if you deposit money in a savings account, the bank will pay you interest.
Basically, he has three main types of interest. The nominal interest rate, the effective interest rate, and the real interest rate. The nominal interest rate for an investment or loan is the published interest rate at which interest payments are calculated.
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Answer:
b. inventory for $600
Explanation:
Before giving the answer, first we have to compute the amount which is shown below:
= (Purchase amount of inventory - the cost of returned goods) × discount rate
= ($33,000 - $3,000) × 2%
= $30,000 × 2%
= $600
Since the payment is made within 10 days. So, Elkins can avail of the 2% discount.
This transaction would credit the inventory for $600 as in the perpetual inventory method the amount of discount is adjusted to the inventory amount.
The journal entry is shown below:
Accounts payable A/c Dr $30,000
To Cash A/c $29,400
To Inventory A/c $600
(Being the amount is paid and the difference would be credited to the cash account)
<em>I disagree but sadly this is true.
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<em>This is the common misconception about security. Companies and individuals often neglect the idea of security as main necessity for requirements, design, implementation and initial philosophy of an organization or a person. Information acquired by a person or a company must be safeguarded from the time the information has been acquired. And how it should be stored, used and disposed (if necessary) is also a part of the security measures by the company or a person. </em>
Answer:
C. No
Explanation:
QSPM analysis: QSPM stand for Quantative Strategic Planning Matrix is a strategic tool to evaluate various strategies to find best alternative. It is the third stage of strategy formulation, which include all the details of previous stages. There is no limit of strategies that can be evaluated or different sets of strategies that can be examined at once using the QSPM. The QSPM weights are identical to the EFE and IFE Matrix.
Answer:
people face trade offs
Explanation:
Because wants are unlimited and the resources used to satisfy those wants are limited, people have to face trade offs. these trades off are opportunity costs.
Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.
In this question, the wants are a cell phone or an amplifier. the resource is $200. If the amplifier is bought, the cell phone cannot be purchased. This is an example of a trade off