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Alex787 [66]
3 years ago
12

Bank of College Park loaned $9,000 to a customer on May 1, 2018, accepting a 9-month, 8% note. The bank recorded the transaction

properly on May 1. As of year-end on December 31, 2018, what adjusting entry will the bank make with respect to this note? Group of answer choices Unearned interest 480 Interest revenue 480 Interest receivable 720 Interest revenue 720 Interest Receivable 540 Interest revenue 540 Interest receivable 480 Interest revenue 480
Business
1 answer:
VMariaS [17]3 years ago
6 0

Answer:

Interest receivable 480 Interest revenue 480

Explanation:

The adjusting entry is shown below:

Interest receivable Dr 480  ($9,000 × 8% × 8 months ÷ 12 months)

        To Interest revenue 480

(Being the interest receivable is recorded)

The interest receivable is debited as it increased the assets and credited the interest revenue as it also increased the revenue

The eight months are considered from May 1,2018 to December 31,2018

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What is the problem with exporting large amounts of central american agricultural products?.
inna [77]

There are a few problems that can arise from exporting large amounts of central American agricultural products. One is that the products may not be able to meet the demand in other countries, which can lead to prices rising and products becoming scarce.

What is American agricultural?
With only one farmer or farm worker needed on average per square kilometre of cropland for agricultural production, American agriculture is highly mechanised. Even though farming is practised in every state in the US, it is most prevalent inside the Great Plains, a vast area of flat arable land in the middle of the country, west of the Great Lakes as well as east of a Rocky Mountains. The Corn Belt, which produces a lot of corn and soybeans, is located in the wetter eastern half, and the Wheat Belt, which produces a lot of wheat, is located in the drier western half. Fruits, vegetables, and nuts are produced in the Central Valley of California.

Additionally, if the products are not properly stored or shipped, they can spoil and become worthless. Finally, if the products are not marketed properly, they may not sell well and may not generate the income that was expected.

To learn more about American agricultural
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8 0
1 year ago
What is the best example of a short-run adjustment?
k0ka [10]

Answer:

Short-run economics primarily affect price.

Explanation:

When demand decreases for any reason, prices go down in the short term. When demand spikes, prices go up. ... Long-run adjustments occur when sustained increases or decreases in demand cause a business to change its practices and can affect both price and the means of production.

8 0
3 years ago
Read 2 more answers
Flickczar, a film production company in the United States, sells the distribution rights of a film to its distributors in unders
Rainbow [258]

Answer:

illegal but ethical.

Explanation:

The actions of Flickczar selling distribution rights to distributors in underserved areas at low prices, and to other areas at normal price is illegal because it is reliant on a suspect category (based on underserved or disadvantaged communities).

The action is ethical because it aims to improve the lives of those that have lower level of living compared to others.

So Flickczar's business practice is illegal but ethical.

4 0
3 years ago
A friend offers you a ticket to a Chicago Cubs baseball game for $40. You know you can sell the ticket to another friend for $50
olganol [36]

Answer:

$50

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

If I decide to go to the game, I forgot the opportunity of selling the ticket for $50 which is the next best use of the ticket.

I hope my answer helps you

6 0
3 years ago
Which of the following statements about human populations in industrialized countries is incorrect? Which of the following state
ozzi

Answer: Birth rates and death rates are high.

Explanation:

In industrialized countries the life expectancy is reasonably high, so it's false to state that the death rate is high.

Also in industrialized countries birth is controlled as against developing countries that don't really put birth control measures.

6 0
3 years ago
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