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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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For each of the following scenarios, please decide whether there will be an increase or decrease in short-run aggregate supply,
algol13

Answer:

1.short run aggregate supply decreases

2.short run aggregate supply decreases

3.short run aggregate supply increases

Explanation:

The short run aggregate supply is the total production of goods and services in an economy holding some factors of production fixed.

1. Even in a healthy economy. As the natural rate of unemployment increases, short run aggregate supply decreases.

2. A rise in the price of lumber (inflation) would cause a decrease in short run aggregate supply.

3. An increase in productivity caused by the acquisition of capital equipment would cause the short run aggregate supply to increase.

8 0
3 years ago
Edie Manson worked the following schedule: Monday, 8 hours; Tuesday, 9 hours; Wednesday, 7 hours 48 minutes; Thursday, 8 hours;
melomori [17]

Answer:

hundredth = 40.48 which is 40.8

Quarter = 40.48 which is 40.75

Explanation:

The total number of hours worked in all days of the week for Manson is 40 hours 48 minutes.

In hudredth time the conversion of 40.48 equals 40.8 but in quarter time to round time to nearest quarter hour, we have to round the times within 7 minutes of a 15 minute mark to that 15 minutes.  Since 48 minutes are only 3 minutes more than 45 minutes, we round back to 45 minutes which is 0.75 in decimal.

Hence the hundredth hour timing is preferred for Edie Manson because it shows a higher time for hours worked and potentially more pay.

4 0
3 years ago
Abused children live in families of all socioeconomic levels, races, nationalities, and religious groups, although child abuse i
Digiron [165]

Answer:

The correct answer is lower-class nonwhite.

Explanation:

The lower class is the poorest population segment of human society. It is characterized by having great gaps in its way of life and limitations in terms of access to economic resources. They are usually unemployed people, who do not own their own home or other goods or properties that are essential for living.

To this socioeconomic class belong people with very low educational levels, barely with primary education and some with secondary education. Some casual or independent workers also enter this class. Lower class families do not have good basic services in their homes.

6 0
3 years ago
(Related to Checkpoint​ 18.2) ​(Calculating the operating and cash conversion​ cycle) Carraway Seed Company Inc. has for many ye
kakasveta [241]

Answer:

a.Operating Cycle = Inventory Conversion period + Days Sales Outstanding = 100 + 35 = 135 Days

Cash Conversion Cycle = Inventory Conversion period + Days Sales Outstanding - Days Payables Outstanding

                              = 100 + 35 - 11 = 124 Days

b.If Carraway were to decide to take full advantage of its credit terms and delay payment until the last possible date , their cash conversion cycle is 100 + 35 - 51 = 84 Days

c.Carraway should take its suppliers offer to finance its inventory with the interest free 35 Day loan

4 0
3 years ago
Wildside Inc., a company that organizes wildlife tours, gives equal importance to customers and employees. The managers at Wilds
umka2103 [35]

Answer: Internal marketing

Explanation: Internal marketing is the process of facilitating a company's purposes or goals, commodities, and services to workers inside the company. It partakes to developed confidence and devotion among the workers also formulating an elevated amount of participation in the ultimate achievement of the company and encourages the development of the company's trademark public support or recommendation.

8 0
3 years ago
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