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Rashid [163]
3 years ago
13

Andrews Company accepted a note receivable from a credit customer who failed to pay their $2,000 Accounts Receivable balance. Th

e customer signed a promissory note which was accepted for 9 months at 5% interest. At the end of the 9 months, the customer does not pay, so it becomes a dishonored note receivable. What is the journal entry for the dishonored note?
Business
1 answer:
Darina [25.2K]3 years ago
6 0

Answer:

The journal entry which is to be recorded for the dishonored note is shown below:

Explanation:

The journal entry which is to be recorded for the dishonored note is as follows:

Accounts Receivable A/c..............................Dr $2,075

       Notes Receivable A/c...................................Cr $2,000

       Interest Revenue A/c......................................Cr $75

Being the note which is received got dishonored

As the note got dishonored so the accounts receivable account will be debited against the notes receivable account and the account of interest revenue is also credited.

Working Note:

Interest revenue = Amount of notes receivable × Rate  × Months / Total number of months

= $2,000 ×5%  × 9/12

= $75

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In a 1988 study, Fama and French found that the return on the aggregate stock market was __________ when the dividend yield was
Lisa [10]

Answer:

A. higher

Explanation:

Fama And French did the risk factor study on stock, which clearly stated that when there is a high dividend yield then the stocks would perform good even in the market.

thus, this clearly reflects that when the market is high for stock returns then the dividend yield is also high.

This is basically the proportional reaction, as when the stock return is higher whether in terms of value addition or cash returns then only the dividend return would also be higher.

Correct option in this case will be:

A. Higher.

6 0
3 years ago
A company that manufactures a device that is heavily regulated by the government and has to undergo a rigorous pre-market approv
Vikki [24]

Answer:

preemption

Explanation:

Preemption -

It refers to the process of getting some prior claim , is referred to as preemption .

It is basically some rights which a company takes before any other company getting it .

Some pre approved process is known as preemption , these claims are required to be taken .

Hence , from the given scenario of the question ,

The correct answer is preemption.

7 0
3 years ago
some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. this is an example of: group
tekilochka [14]

Some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. This is an example of the ordinal scale.

What is ordinal scale and instance?

“Ordinal” indicates “order”. Ordinal information is quantitative information which have clearly happening orders and the distinction between is unknown. it could be named, grouped and also ranked. as an example: “How satisfied are you with our products?”

What is supposed by using ordinal scale?

The Ordinal scale includes statistical facts type in which variables are so as or rank however with out a degree of distinction between categories. The ordinal scale incorporates qualitative information; 'ordinal' that means 'order'. It places variables in order/rank, only allowing to measure the value as better or lower in scale.

What type of scale is ordinal?

The ordinal scale is the 2d degree of dimension that reports the ordering and ranking of records with out establishing the degree of version between them. Ordinal represents the “order.” Ordinal records is known as qualitative data or specific statistics. it is able to be grouped, named and additionally ranked.

Learn more about ordinal scale here :- brainly.com/question/13267344

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6 0
2 years ago
Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $82,000 and $4,500, r
Cerrena [4.2K]

Answer: $10,700

Explanation:

The Uncollectible Account Expense is the Accounting Adjustment made when a Receivable defaults on their debt and it can be calculated using the following formula,

= Uncollectible Amount written off + Closing Balance - Opening Balance.

Now the balances are as follows,

Opening Balance for Year 2 = 4,500

Closing Balance for Year 2 = 6,800

Uncollectible Amount written off during Year 2 = 8,400

Calculating therefore,

= 6,800 + 8,400 - 4,500

= $10,700

Allegheny will report $10,700 as Uncollectible Accounts Expense for Year 2.

3 0
3 years ago
You have been asked by the president of your company to evaluate the proposed acquisition of a new special-purpose truck for $25
JulijaS [17]

Answer:

Please find the complete solution in the attachment file.

Explanation:

Please find the attachment table for the 3 years of cash flow:

5 0
3 years ago
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