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Maslowich
4 years ago
11

A company borrowed 10,000 by signing a 180-day promissory note 9%.the total interest due on the maturity date is: (use 360 days

a year)
Business
1 answer:
alexira [117]4 years ago
5 0

Answer: $450

Explanation:

A Promissory note is a type of notes which carry a fixed interest rate. In a Promissory note, the issuer of the note has made a promises to pay a fixed amount with interest on the maturity date to the payee.

Answer and Explanation:

Face value of the promissory note = $10,000

Maturity period = 180 days

Interest rate = 9%

Interest payable on maturity = $10,000 × 9% × 180/360

= 10,000 × 0.09 × 0.5

= $450

The total interest due on the maturity date is $450.

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Myers and Company sold $1,800 of merchandise on account to Oscar, Inc. on March 1 with credit terms of 2/10, n/30. Oscar returne
tigry1 [53]

Answer:

D.Cash 1,274 Sales Discount 26 Accounts Receivable 1,300

Explanation:

The journal entry is shown  below:

Cash A/c Dr                   $1,274

Sales Discount A/c Dr $26

     To  Accounts receivable    $1,300

(Being cash received recorded)

The computation of the account receivable  

= Credit sales - returned goods

= $1,800 - $500

= $1,300

And, the discount would be

= Accounts receivable × percentage given

= $1,300 × 2%

= $26

The remaining amount would be credited to the cash account.

3 0
4 years ago
Baker Corporation has provided the following production and average cost data for two levels of monthly production volume. The c
erica [24]

Answer:

(B) $18.40

Explanation:

we build the equation system and solve for variable overhead

we must understand that overhead unit cost if calculate as follow:

variable overhead + fixed overhead / volume

so:

\left \{ {{33.8=VMO + FMO/3,000} \atop {64.6=VMO + FMO/1,000}} \right.

We rearrange:

\left \{ {{FMO = (33.8-VMO) \times 3,000} \atop {FMO = (64.6-VMO) \times 1,000}} \right.

We equalize:

(33.8-VMO) \times 3,000 = (64.6-VMO) \times 1,000

And now we solve:

(33.8 - VMO) x 3 = 64.6 - VMO

101.4 - 3 VMO = 64.6 - VMO

36.8 = 2VMO = 18.4

6 0
3 years ago
Tony works as a salesperson at Franklin Delights, a company that specializes in labor-saving kitchen appliances. When Tony gives
klasskru [66]

Answer: adaptive selling

                           

Explanation: In simple words, adaptive selling refers to the ability under which an employee changes his or her behavior with the change in the status of the clients.

Under such style of selling, the salesman performing highly focus on the type of customer, the situation in which sales is made and the feedback received and tailors his or her approach to sales accordingly.

In the given case, Tony is stating different facts regarding the product for different customers. Hence we can conclude that he is doing adaptive selling.

7 0
4 years ago
Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic is i
professor190 [17]

Answer:

Assembly Work In Process Inventory

Explanation:

The units completed cost will be move from one process into the next one.

The transferred-out cost will be credited from Molding(origin) and debited into Assembly Work-in-Process(destination)

As this is a theoreticalquestion we don't have to look into the numbers.

3 0
4 years ago
Short-term bond yields are generally ______ than long-term bond yields, whereas long-term bond prices are generally ________ tha
Alex Ar [27]
1. More volatile
2. More volatile
Enjoy the holidays, I hope this helps inshallah!
3 0
4 years ago
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