1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Marina CMI [18]
4 years ago
8

During the fourth quarter ended December​ 31, Year​ 1, Lighting Fixtures Inc.​ (LFI) had average outstanding revolving bank loan

s of​ $1.2 million. Assume that the quarterly interest charges associated with these loans was​ $7,500. If LFI makes the interest payment to the banks on January​ 15, Year​ 2, what is the journal entry​ (if any) made by the company on December 31 to reflect the​ above?
Business
2 answers:
IrinaK [193]4 years ago
8 0

Answer:

December 31, Year 1              DR.        Cr.

Accrued Interest Expense  $7,500

Interest Payable                                 $7,500

Explanation:

On December 31 Year 1 Interest was accrued and It was recorded by the Lighting Fixtures Inc.​ (LFI) but its outstanding now. Lighting Fixtures Inc.​ (LFI) paid the interest on January 15, at this time a payment entry of a payable interest was be made. Expense was charged on December 31 of year 1.

almond37 [142]4 years ago
3 0

Answer:

I think it is 7,500

Explanation:

Hope this helps!!!!

You might be interested in
Juanita is training for a triathlon, a timed race that combines swimming, biking, and running.
VikaD [51]

Answer:

Juanita's trainning dilema:

B:People face trade-offs

Icestorm:

A:Markets allocate goods effectively.

Explanation:

Any hour on swimming trainning is one less for bike or running.

Also an hour runnings is one less for swimming or running

an bike hours negate the change for swimming or running.

This is the concept of opportunity cost. chose something is also chose not to do anything else.

When there is need of a certain good, batteries in this case, the market (which is the sum of all people willing to do business) will allocate resource when needed. As the demand for batteries and flashlights increased, the stores chose to purchase these instead of other to replenish the stock and make a stand to the increased demand.

8 0
4 years ago
When joe didn't have car insurance, he drove very cautiously, because he knew he would have to pay for any damage to his car. no
icang [17]

This is an example of a moral hazard, which is when someone is more likely to engage in dangerous behavior when they perceive that they are protected from the consequences.

3 0
3 years ago
When you want to add records to a database, which view should you have open?
Serggg [28]

Answer:

the answer is d

Explanation:

7 0
3 years ago
Which one of the following is a primary market transaction? Group of answer choices Sale of currently outstanding stock by a dea
trapecia [35]

Answer:

sale of a new share of stock to an individual investor

Explanation:

Securities are created in the primary market. With an IPO which stands for initial public offering, new stocks are sold to the public by companies on a first time basis.

The sale of a new share of stock in the question is an example of a primary market transaction.

6 0
4 years ago
Read 2 more answers
n a small open economy with perfect capital mobility, if the domestic interest rate were to rise above the world interest rate,
Brilliant_brown [7]

<u>A)</u><u> Capital inflow.</u>

<u />

<h3><u>The inflow of capital: What is it?</u></h3>

Net purchases of domestic assets by non-residents, or the difference between purchases and sells, are referred to as capital inflows. Net foreign asset purchases by domestic agents, excluding the central bank, equal net capital outflows. The total of foreign direct investment into the domestic economy, portfolio investment obligations, and other investment liabilities is known as capital inflows. Capital inflows to developing nations increased dramatically in the early 1990s. Direct and portfolio investments were sparked by interest in nations with developing financial markets. The influxes were welcomed since they gave investors more chances for international diversification and helped developing nations finance domestic projects.

Learn more about capital inflow with the help of the given link:

brainly.com/question/15702923?referrer=searchResults

#SPJ4

4 0
2 years ago
Other questions:
  • A cotton swab manufacturer looked at its abysmal sales figures and conducted an organizational situation analysis. Next, it deci
    13·2 answers
  • Why is the white epiphone explorer more expensive
    10·1 answer
  • On an organization's board of directors, inside directors ____; outside directors _____. are supposed to be elected from outside
    13·1 answer
  • The incredible shrinking​ $50 bill in 1957 was worth​ $50, but in 2007 it is worth only ​$. a. What was the compounded average a
    7·1 answer
  • Whippet Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2017, at a co
    15·1 answer
  • You have just purchased a car and, to fund the purchase, you borrowed $31,000. If your monthly payments are $493.25 for the next
    13·1 answer
  • Javier spends all his income on peanuts and chewing gum. The last dollar spent on peanuts yeilds 14 utils and the last dollar sp
    9·1 answer
  • Due TODAY!
    6·2 answers
  • How do employee benefits relate to disposable income
    11·1 answer
  • Professionally managed and centrally coordinated marketing channels that are designed to achieve channel economies and maximize
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!