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oksano4ka [1.4K]
3 years ago
13

On September 1, 2017, Banner Co. borrowed $70,000 from the City Bank for five months at 9%. Interest was properly accrued on Dec

ember 31, 2017. What entry is needed to record the payment of the note and accrued interest on the due date?
Business
1 answer:
trasher [3.6K]3 years ago
7 0

Answer:

Explanation: Journal Entry

Loan Borrowed is $70,000

Interest rate is 9%

Interest accrued = 70,000 * 9% = 6,300

1. Cr: Bank                                 $76,300                    

   Dr: Short Term Loan            $70,000

    Dr: Accrued Int on loan      $6,300

Being loan repayment with accrued interest on loan for 5 months.

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Answer:

3.46 m/s

Explanation:

This is actually a Physics question and not a Business question.

According to the property of conservation of momentum, the speed of the Mazda before the collision multiplied by the mass of the Mazda must equal the speed after the collision multiplied by the mass of both cars:

m_1v_1=(m_1+m_2)*v_2\\940*12.5=(940+2460)*v_2\\v_2= 3.46\ m/s

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4 0
3 years ago
Airline Accessories has the following current assets: cash, $93 million; receivables, $85 million; inventory, $173 million; and
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Answer:

See below

Explanation:

1. The current ratio is the sum of current assets divided by current liabilities. It used to measure the ability of the airlines accessories to meet its short term obligation due within a year

Current ratio = $93 million + $85 million + $9 million / $80 million + $26 million

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2. Acid test ratio. This measure liquidity but with adjustment for risky current assets i.e Inventory

Acid test ratio = Current assets - Inventories / Current liabilities

Acid test ratio = ($187 million - $173 million) / $106 million

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When a product spreads through the population, it is called the?
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Answer:

$550,000

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Based on the information given the OPPORTUNITY COST OF RUNNING THE HARDWARE STORE will be $550,000 ($500,000+$50,000), which include the amount of $500,000 which is the cost of renting the store as well as to the cost to buy the stock while the $50,000 is her salary as an Accountant, reason been that she would QUIT HER JOB as an accountant in order for her to run the store.

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