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
ludmilkaskok [199]
3 years ago
10

On August 1, a $42,000, 7%, 3-year installment note payable is issued by a company. The note requires equal payments of principa

l plus accrued interest of $16,004.17. The entry to record the first payment on July 31 would include:a. $14,000.00.
b. $16,004.17.

c. $14,800.00.

d. $14,400.00.
Business
1 answer:
Anvisha [2.4K]3 years ago
8 0

Answer:

b. $16,004.17

Explanation:

The bond pays annual interest of 7% over the 3 years. The annuity factor at 7% for 3 years is 2.6243. The amount of bond is divided by annuity factor to calculate the annual payment of bond. The payment includes bond principal repayment and interest payment. The first payment on July 31 will be for $16,004.17.

You might be interested in
When a firm enjoys a competitive advantage, it attracts a significant amount of attention and its products or services can be at
svetoff [14.1K]

Answer: Direct imitation or Substitution

Explanation: When a  Firm enjoys competitive advantage it attracts significant attention from its competitors. the competitors attempt to take over this resource advantage in order to negate the firms resource advantage. This can be done in two ways, either by imitating the resource in which the firm has a competitive advantage ( <u><em>direct imitation)</em></u> or by substituting the firms product by providing a similar product or service referred to as <em><u>substitution</u></em>.

5 0
3 years ago
Read 2 more answers
The margin of safety is the amount that sales can drop before the company incurs a loss.
torisob [31]

a.true

Because with said the the margin of safety is the amount that sales can drop before the company incurs a loss.

read the question aloud and it will make sense.

4 0
3 years ago
Which project type creates a competitive advantage that enables the organization to earn a greater than normal return on investm
aleksandr82 [10.1K]

Answer:

a breakthrough project

Explanation:

Having competitive advantage <em>implies</em> being in a  condition or circumstance that puts an organisation in a favorable business position.

Therefore, a Breakthrough Project would create a competitive advantage that enables the organization to earn a greater than normal return on investment than its competitors, because it is like a<em> disruptive innovation.</em>

4 0
3 years ago
Required information Use the following information for the Exercises below. Skip to question [The following information applies
Lyrx [107]

Answer:

Follows are the solution to this question:

Explanation:

In point A:

The estimated amount of uncollectible allowance =\$ \  635,000 \times 4 \% = \$ \ 2,540,000

In point B                                    Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts                \$ \ 2,526,700

Doubted debt allowance                          \$ \ 2,526,700 \  \   (\$ \ 2,540,000 - \$ \ 13,300)

(Bad Debts Expense recorded)  

In point C                                         Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts               \$ \ 2,553, 300

Doubted debt allowance                        \$ \ 2,553, 300     \ \ \ \ (\$ \ 2,540,000 + \$ \ 13,300)    

(Bad Debts Expense recorded)  

5 0
3 years ago
Banks that are financial intermediaries generate earnings when they facilitate the transfer of money from savers to borrowers by
lesya692 [45]

Answer: True

Explanation:

Financial intermediaries are the institutions they have been put in place like a building society, bank, or unit-trust company, which are charged with the responsibility of holding funds from the lenders so that loans will be made available to people that wants to borrow.

It should be noted that banks that are financial intermediaries generate earnings when they facilitate the transfer of money from savers to borrowers by paying savers a smaller return than they demand from borrowers. This earning is their charges for the service rendered.

6 0
3 years ago
Other questions:
  • 01:42:59 Scott really enjoys working with money, including making it grow. He is also a natural leader and would enjoy working w
    11·2 answers
  • Having struggled with panhandlers on the subway, hassles at the office, and telephone calls at dinner, allison retreats to her b
    14·1 answer
  • Journalize the following foregoing transactions of the buyer, assuming that the company uses the perpetual inventory system. Ref
    14·1 answer
  • A price floor that is set above the normal equilibrium price will lead to: A. An decrease in consumer surplus, a decrease in pro
    6·1 answer
  • Sannella Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales S
    10·2 answers
  • Studies indicate that consumers cannot identify their "favorite" brand of beer without the label. This sort of association is cr
    13·1 answer
  • If you cut your prices by 10 percent and total revenues rise, the price elasticity of demand is
    8·1 answer
  • On the balance sheet, total assets minus net fixed assets equals:________.
    11·1 answer
  • A decrease in the price of toothpaste in a tube can lead to a decrease in the purchase of toothpaste in a pump. This means:
    14·1 answer
  • Beginning inventory plus net purchases is:
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!