People and procedures for assessing information needs, developing the needed information, and helping decision makers use the information. Hope it is helpful. Peace✌️
Answer:
Journal Entry
March 1
Dr. Cash $4,550,000
Dr. Discount on Note Payable $450,000
Cr. Note payable $5,000,000
December 1
Dr. Interest Expense $450,000
Cr. Discount on Note Payable $450,000
Dr. Note payable $5,000,000
Cr. Cash $5,000,000
Explanation:
Note payable is document which is payable after a specific period of time.
Note Payable is recorded at the present value of the note face value. We need to discount the face value of the note first.
Interest on the bond = $5,000,000 x 12% x 9/12 = $450,000
On December 31 Interest expense will be recorded and Payment of Note is made.
<span>I think that this could prove to be a good service to provide to the people, but I would want to know the cost of implementing the idea first. For example, if the park already has some sort of speaker system installed, then the idea would not cost a lot of money and would be feasible. On the other hand, if there are not already speakers, how expensive will it be to provide the music to the people standing in line? I like the idea being proposed, because it could keep those waiting in line entertained.</span>
Answer:
$2,000
Explanation:
Use the format
Jansen Company’s
Bank reconciliation as of May 31, 2013.
Balance as per Bank Statement
Add Outstanding Checks
Less Unpresented Checks
Balance as per Cash Book
