1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sertanlavr [38]
3 years ago
7

TRN sold $40,000, of goods and accepted the customer's $40,000 10%, 1-year note payable in exchange. Assuming 10% approximates t

he market rate of return, how much interest would be recorded for the year ending December 31 if the sale was made on June 30?a. $0.b. $2,000.c. $4,000.d. $8,000.
Business
1 answer:
drek231 [11]3 years ago
6 0

Answer:

b. $2,000

Explanation:

The computation of the interest amount is shown below:

= Sale value of goods × rate of interest × (number of months ÷ total number of months in a year)

= $40,000 × 10% × (6 months ÷ 12 months)

= $2,000

The 6 months is calculated from June 30 to December 31.

So, the b option is correct and rest options are wrong.

You might be interested in
Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginni
djyliett [7]

Answer:

Direct material used= $420

Explanation:

Giving the following information:

Sales revenue= $4,000

Purchases of direct materials= $400

Direct labor= $450

Manufacturing overhead= $620

Operating expenses= $650

Beginning raw materials inventory= $200

Ending raw materials inventory= $180

Beginning work in process inventory= $320

Ending work in process inventory= $410

Beginning finished goods inventory= $250

Ending finished goods inventory= $200

Direct material used= ?

Direct material used= beginning inventory raw material + purchase - ending inventory raw material

Direct material used= 200 + 400 - 180= $420

5 0
3 years ago
Comparison of product features is part of the ____ phase of the decision-making process
slava [35]
The evaluating alternatives part of the decision-making process!
7 0
3 years ago
Mary co-signs for a car loan for Barbara. What can happen to the car if Barbara misses a few payments on the car loan?
madam [21]
Most likely, Mary would be charged a higher amount of interest for missing payments, and would be charged more and more the if she continued to miss payments.
4 0
3 years ago
The annual percentage rate on a credit card determines _______.
adell [148]
The amount of interest you are charged on credit card purchases
5 0
3 years ago
Dan, Francis, and Pedro were on a team at their engineering company. Though Dan had the most experience of the three, he did not
elena-14-01-66 [18.8K]

Answer:

Shared.

Explanation:

Shared leadership is a leadership style that comprehensively disseminates leadership obligation, to such an extent that individuals inside a group and association lead one another.

5 0
3 years ago
Read 2 more answers
Other questions:
  • One of Sanjay's work responsibilities is to check inspection stations periodically to monitor the quality of the products throug
    9·1 answer
  • A company that adapts its product features for an international market is pursuing one of the three principle strategic options:
    15·1 answer
  • The flow of money in transnational corporations is not balanced. this is true in two ways. explain
    12·1 answer
  • I need help with the picture above can anyone please help me i am really struggling
    5·1 answer
  • What is an example of a long term liability?
    6·2 answers
  • Jack's Lumber Yard receives 8,000 large trees each period that it subsequently processes into rough logs by stripping off the tr
    5·1 answer
  • At the end of the current year, using the aging of receivable method, management estimated that $18,000 of the accounts receivab
    12·1 answer
  • Lizzie Corporation has provided the following information about one of its laptop computers: Date Transaction Number of Units Co
    15·1 answer
  • While watching a movie, Daysha notices that a few brands have been conspicuously integrated with its screenplay. The main charac
    11·1 answer
  • If you want to compare your qualifications to an employers requirements, a t-letter is the best cover letter format to use. plea
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!