Amanda Winter worked as a public engagement coordinator at Safe Food Alliance until three months ago when her manager, Laura Mor
1 answer:
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Answer:
$2,608.65
Explanation:
The computation of the loan amount is shown below:
But before that first we have to determine the interest which is
= Principal × rate of interest × number of days ÷ total number of days in a year
= $2,500 × 11.75% × 135 days ÷ 365 days
= $108.65
The rate of interest given is 11
And, the 135 days is from Sept 14 to Jan 27
So, the total amount paid is
= $108.65 + $2,500
= $2,608.65
Answer:
The overview of the given situation is described in the explanation segment below.
Explanation:
The Journal entry is give below:
<u> </u><u> Value at Current Decrease in Paid [A+B]</u>
<u> beginning value value [V] interest ($)</u>
<u> ($) ($) ($) ($) Decrease</u>
<u>Mar </u><u> 515,071 540,000 24,929 - 24,929</u>
<u />
June 540,000 520,000 -20,000 28,000 8,000
<u> (</u>)
<u>Sept</u><u> 520,000 515,000 -5,000 - 5,000</u>
<u />
Dec 515,071 522,000 6,929 56,000 62,929
<u> (</u>)