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igomit [66]
3 years ago
10

Simple interest is paid only on the .

Business
2 answers:
sasho [114]3 years ago
8 0

Explanation:

Simple interest is paid only on the borrowed amount.

When a person borrows money from bank or any financial institution, he has to pay an interest for borrowing the money. A percentage is being set by the lender and the borrower has to pay that percentage on the amount of money he borrowed on monthly basis to the lender. Loans are usually given to the people by having their precious assets as a collateral and then setting a percentage of interest on the borrowed amount. So when the borrower will finish the repayment of loan, he can withdraw his collateral, otherwise his collateral will be kept by the lender if the borrower fails to payback the loan.

jekas [21]3 years ago
3 0

Answer:

Simple interest is paid only on the original amount borrowed.

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Journalize the following entries on the books of Winston Co. for August 1, September 1, and November 30. (Assume a 360-day year
olasank [31]

Answer and Explanation:

The journal entries are shown below:

On Aug. 1

Merchandise Inventory $75,000  

         To Accounts Payable  $75,000

(Being the purchase of merchandise inventory is recorded)

For recording this we debited the merchandise inventory as it increased the assets and credited the account payable as it also increased the liabilities

On Sept. 1

Accounts Payable $75,000  

           To Notes Payable  $75,000

(Being the issued of note payable on the account is recorded)

For recording this we debited the account payable as it decreased the liabilities and credited the note payable as it increased the liabilities

On Nov. 30

Notes Payable $75,000  

Interest Expense $1,125  ($75,000 × 6% × 90 days ÷ 360 days)

             To Cash  $76,125

(Being cash paid is recorded)

For recording this we debited the note payable and interest expense as it decreased the liabilities and increased the expense and credited the cash as it decreased the assets

8 0
3 years ago
Drag each label to the correct location on the image.
xeze [42]

Answer:

Tony and Gareth

Explanation:

Basic eligibility requirements for financial student aid are:

  • Be a U.S. citizen or an eligible noncitizen (including a U.S. national or permanent resident) and have a valid Social Security number.
  • Have a high school diploma or GED certificate.
  • Be enrolled or accepted as a student in an eligible degree or certificate program.
  • Earn a minimum GPA.

Tony has still not completed high school, and Miami resident Gareth does not has a social security number.

Keith and Marshall may be eligible for the financial student aid if they meet all other requirements for financial student aid.

7 0
3 years ago
Three factors that must be noted about each and every pulse are
babunello [35]
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5 0
2 years ago
Which individual would deserve credit for the success of american imperialist policies?
Leviafan [203]

Answer:

American imperialism

Explanation:

is a term that refers to the economic,military and cultural influence of the United States on other countries.

8 0
3 years ago
Kylie, Jake, and Samantha have different ideas about what makes a job satisfying. They all work for a nonprofit organization and
sweet-ann [11.9K]

Answer:

The answer is: A) Jake most likely has the lowest job satisfaction.

Explanation:

In a job satisfaction scale, Jake would be the most dissatisfied. Jake is very anxious about his job, he may like doing it, but he needs a better salary (too many debts and expenses). Eventually he will probably quit that  job if he finds a better paying one.

Kylie has the highest level of job satisfaction. She enjoys her work and feels good about it. She strongly believes that she is doing something really good for other people in need. Samantha´s level of job satisfaction is in the midpoint, she likes her job but isn´t that excited about it.

8 0
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