Explanation:
The journal entries are as follows
1. Account payable $81,617
Interest expense $1,383.33
To Notes payable $83,000
(Being the issuance of the note is recorded)
The interest expense is computed below:
= $83,000 × 60 days ÷ 360 days × 10%
= $1,383.33
2. Note payable Dr $75,000
To Cash $75,000
(Being the payment is recorded)
Answer:
The false negative error - Option D
Explanation:
A false negative error, is a test result that indicates that a condition does not hold, while in fact it does. It is a type II error occurring in a test where a single condition is checked for and the result of the test is erroneously that the condition is absent
The first agency Jacob applied to for a job failed to realize that he was fit for it and they resolved into a wrong decision of not hiring him. However, the second agency he applied to were able to recognize the fact that Jacob was fit for the job and after been hired,he was given an award of the best crime beat reporter within a year.
Thus, with respect to the scenario given in the question, the News Curator made the false negative error
Answer:
The future value in 5 years is $3,184.87
Explanation:
The figure is arrived by calculating the future of the yearly total service of $600($3*200) by using applicable annuity factor for each of the years from year 1 to 5.
The annuity factor for each year is calculated as (1+r)^n, where r is the rate of return of 2% and the n the year in which the service fee relates to.
Kindly find attached for detailed computations.