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g100num [7]
3 years ago
12

Chandler Co. has a loan that accrues interest at a rate of $28 a day. The company pays the interest once a quarter. What adjustm

ents would be made at the end of a month in which no payment for interest was made?
Business
1 answer:
prohojiy [21]3 years ago
3 0

Answer:

The Adjustment Entry for accrual of Interest Expense will be as follows:

                                              Dr.       Cr.

Interest Expense                $840

Interest accrued Payable               $840

Explanation:

Interest per day = $28

Interest expense for the Month = $28 x 30 = $840

$840 of Interest expense will be accrued at the end of the month and it should be adjusted accordingly.

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Answer:

price floor, causing excess supply in the market.

Explanation:

A number of states have a minimum wage that is higher than the federal minimum. In those states that impose such a minimum wage, it is more likely that the minimum wage acts as a binding price floor, causing excess supply in the market.

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3 years ago
When a firm has its products prices high because it hopes that consumers will associate high prices with high quality, it is foc
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When a firm has its products prices high because it hopes that consumers will associate high prices with high quality, it is focused on which of these pricing objectives? Maximizing profits. Maximizing profits refers to a firm doing all they can to get the most return on their products. When a firm is able to maximize their profits, they typically are making the most money on their items and allowing for large amounts of money to be reinvested into the company.

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What are members of remunaration committee ​
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5 0
3 years ago
Select all of the following descriptions that are true about market economies. Select all that apply:
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Answer:

The correct answers are B and D

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3 years ago
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