To find the gross profit margin found by:
(revenue - cost of goods sold)/revenue
Revenue = $62,275
Cost of goods sold (purchase price) = $26,500
= (62,275 - 26,500)/62,275
= 35,775/62,275
= 0.57 x 100
Percentage of gross profit = 57%
It’s: c) heading! hope this helps
Answer:
make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the amount of interest accrued since the last interest receipt date.
Explanation:
Adjusting entries are used at the end of an accounting period to assign income and expenses that has accrued.
In this instance when the interest reciept day comes after accounting period we need to recognise the amount of interest earned so far.
The amount accrued since last interest payment date is calculated.
This amount has been earned so it should be recognised as revenue. To do this we debit interest receivable and credit interest revenue.
Promoting Economic Growth
Monetary coverage is the macroeconomic coverage laid down by using the critical bank. It includes management of money supply and interest price and is the call for aspect economic coverage used by the government of a rustic to gain macroeconomic objectives like inflation, intake, increase, and liquidity.
Six basic goals are usually noted via personnel at the Federal Reserve and other important banks once they talk about the targets of monetary coverage: (1) high employment, (2) financial increase, (three) fee balance, (4) hobby-charge stability, (five) stability of economic markets, and (6) stability in the forex
A few economic policy examples encompass buying or promoting authorities securities thru open marketplace operations, converting the bargain price supplied to member banks or altering the reserve requirement of the way a lot of money banks need to have on hand it really is no longer already spoken for thru loans.
Learn more about Monetary Policy here
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