Spike before falling to the equilibrium level
Answer:
b. They reflect the laws and regulations that affect social and economic behavior.
Explanation:
Morals are not universal and vary greatly depending on the underlying culture and religion. Even still in each civilization, there are many grey areas in the concept of morals. One thing that seems to be constant is that they reflect the laws and regulations that affect social and economic behavior. In this scenario, some developing countries believe that using children as a cheaper form of labor is fine since the children are getting paid and therefore, there are no laws prohibiting this action so people see it as morally correct. While other countries that see it as morally wrong have laws and regulations to prevent people from performing such actions. These laws and regulations are a form of dictating social and economic behavior by stating that it is morally wrong.
Answer:
A- Gill, a credit customer
Explanation:
A journal entry involves the process of keeping the records of business transactions made by an organization.
Journal entries are mainly used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.
A sales ledger can be defined as an accounting book that comprises of the individual account of each customer of a business firm and records the money received for goods or services purchased, whether the payment has been received or not.
Simply stated, a sales ledger sequentially records all sales that have taken place in a business, whether or not payment have been received.
This ultimately implies that, a sales ledger contains accounting information on all sales transaction made by a company including, money received for its goods and services and money owed by its customers.
Hence, the account which will appear in the sales ledger is that of Gill, a credit customer.
Answer:
$227,591.04
Explanation:
The computation of the interest expense is shown below;
The interest expense on the face value
= $2,750,000 × 10% × 6 months ÷ 12 months
= $137,500
And, the interest expense on the sale value
= $2,973,100 × 8% × 6 months ÷ 12 months
= $118,924
Now the closing balance would be
= $2,973,100 - $137,500 - $118,924
= $2,716,676
Now the interest on the same is
= $2,716,676 × 8% × 6 months ÷ 12 months
= $108,667.04
Now the interest expense is
= $108,667.04 + $118,924
= $227,591.04
