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3 years ago

What type of Credit allows you to borrow a specific amount and agree to pay in a specific number of payments of equal amounts?

Business

2 answers:

lesantik [10]3 years ago

8 0

Answer:

The correct answer is Installment.

Explanation:

There are many types of credits you can ask for, one of them is the Installment credit. This credit consists of a loan that will be paid month by month in equal amounts of money until the debt is paid.

The advantage of this loan is precisely that the payment of each month is fixed, and will not change.

These loans usually have a longer duration to finish paying off the debt, <u>an example of this type of loans is a mortgage. </u>

To apply for a loan you must have a good previous credit record, an annual increase that is appropriate for the loan you are applying for and a stable employment or source of income.

Given this information, we can say that the correct option is Installment.

Kryger [21]3 years ago

6 0

bloting i think it is thatn

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Many businesses use find-a-hand, a professional staffing agency because of the employees’ expertise in recruiting and selecting

makvit [3.9K]

It is an example of Strength in SWOT Analysis.

SWOT Analysis is a strategic planning technique used for identifying and analyzing internal strengths and weaknesses in an organization includes the Strength, Weakness, Opportunities and Threat.

Professional staffing agency isused by organization to recruit qualified workers into the organization.

But, employees’ with high levels of knowledge can also perform the purpose for business client, so, this situation forms part of the Strength factor for such organization.

In conclusion, an example of the find-a-hand’s forms the Strength in the SWOT analysis of the company.

Learn more about SWOT Analysis here

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4 0

2 years ago

A ___________ is who a creditor may turn the account over to after exhausting its efforts to get a consumer to make past-due pay

dmitriy555 [2]

Answer: collection agency

Explanation:

7 0

2 years ago

Pools purchased $ 60 comma 000 of 14% DMH bonds on January 1, 2018, at a price of 159.5 when the market rate of interest was

Damm [24]

Answer:

Initial purchase of the bonds on 1st January 2016

Assuming that $60,000 bonds includes 600 bonds with face value of $100 each

Now, Lamar insurance purchased these bonds at a discount price of $159.5 each bond.

So, the total amount invested by Lamar insurance = 600 bonds * $159.5 = $95,700

Therefore journal entry for recording purchase of bonds on 1st January 2016 will be,

Investments in bonds A/c Debit $95,700

To, Bank/Cash A/c credit $95,700

Note: The bonds have been issues at a discount and it seems to be reasonable owing to the fact that the market interest rate is 6% , whereas the bonds have a interest rate of 14%.

Interest entry on the first interest payment date of 1st July 2016

Interest amount to be received on 1st July 2016 = ($60,000 *14%)*6/12 = $4.200

Since interest is paid semi annually, therefore we have taken interest for 6 months.

Journal entry will be:

Bank A/c Debit $4,200

To, Interest on bonds A/c Credit $4,200

5 0

3 years ago

On Jan 5, a customer returned merchandise that had been purchased earlier on credit. The original sale was for $500, and the cos

Elodia [21]

Answer:

Debit Sales Returns and Allowances $500; debit Merchandise Inventory $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150.

Explanation:

Based on the information given the required appropiate journal entry to record the return on the books of the seller, in a situation were the goods can be sold to another customer is :

Debit Sales Returns and Allowances $500

Debit Merchandise Inventory $150

Credit Accounts Receivable $500

Credit Cost of Goods Sold $150

(To record the return on the books of the seller)

6 0

3 years ago

1. Clean Machines Company (Clean) makes washing machines. Over the phone, Clean offers to sell Dealers Appliance Outlet (Dealers

photoshop1234 [79]

Answer:

Explanation:

In my opinion, I would like to say that Clean Machines Company is correct. If you look at it this way, you'd see that there actually isn't any contract between Clean Machines Company and Dealer. When it came to about offers, the person offering is able to revoke an offer before the offer is even accepted. And he won't be held responsible unless of course, the offer is irrevocable. Then, to make the offer to be irrevocable, the Dealer then would have needed to prove that an option was present, or prove that the offer is was not able to be revoked due to UCC provision.

6 0

2 years ago