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melamori03 [73]
3 years ago
10

On August 1, Batson Company issued a 60-day note with a face amount of $52,200 to Jergens Company for merchandise inventory. (As

sume a 360-day year is used for interest calculations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 12%. b. Determine the proceeds of the note assuming the note is discounted at 12%.
Business
1 answer:
blsea [12.9K]3 years ago
4 0

Answer:

a.

$52,200

b.

$51,156

Explanation:

Note are issued n the face value or the discounted value. When price of the note is the same as face value then it is known as issued on par/face value.

When price of the note is the lower as face value then it is known as issued on discounted value.

a.

Proceeds from the note issued is the price of the note at which it is issued. As the note is issued on the face value of $52,200, so the proceeds is the same value.

b.

Discount value = $52,200 x 12% x 60/360 = $1,044

Proceeds = Face value of the note - Discount on the note = $52,200 - $1,044 = $51,156

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Answer:

Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company.

hope it helps!

6 0
2 years ago
In the short-run an increase in the costs of production makes a. output rise and prices fall. b. output and prices fall. c. outp
gtnhenbr [62]

Answer:

C) Output fall and prices rise

Explanation:

In an aggregate supply, aggregate demand model, price level is the Y axis, and output is the X axis. Supply is positively related with price: the higher the price, the more firms produce.

However, to produce someting, firms need to employ the factors of production: land, labor and capital. The wages firms pay to workers, and the rent firms pay for land and capital are the production costs. If these costs rise, then, the products will become more expensive.

This increase in price will be met with lower demand; less customers will be willing to purchase the product, and therefore, the firms will start producing less until reaching a new equilibrium.

7 0
3 years ago
Be5-4, Prepare the journal entries to record the following transactions on Novy Company’s books using a perpetual inventory syst
Leto [7]

Answer:

a: March 2

Dr Accounts Receivable 900,000

Cr Sales Revenue 900,000

March 2

Dr Cost of Good Sold 590,000

Cr Inventory 590,000

b. March 6

Dr Sales Returns and Allowances 90,000

Cr Accounts Receivable 90,000

March 6

Dr Inventory 62,000

Cr Cost of Goods Sold 62,000

c. March 12

Dr Cash 793,800

Dr Sales Discount 16,200

Cr Accounts Receivable 810,000

Explanation:

Preparation of Journal entries using a perpetual inventory system

a. March 2

Dr Accounts Receivable 900,000

Cr Sales Revenue 900,000

(To record sale of merchandise)

March 2

Dr Cost of Good Sold 590,000

Cr Inventory 590,000

b. March 6

Dr Sales Returns and Allowances 90,000

Cr Accounts Receivable 90,000

(To record sale of merchandise)

March 6

Dr Inventory 62,000

Cr Cost of Goods Sold 62,000

c. March 12

Dr Cash 793,800

(98%*810,000)

Dr Sales Discount 16,200

(2%*810,000)

Cr Accounts Receivable 810,000

(900,000-90,000)

8 0
3 years ago
Education required for an animator
Mashcka [7]

Answer: A bachelor's degree in an art related field

Explanation: Like most art related careers, you need a strong art portfolio to getting an art related job.

6 0
2 years ago
Which of the following statements are true regarding profit-maximizing firms?A.They will attempt to maximize the difference betw
Gennadij [26K]

Answer:

For a profit maximizing firm , the statement that will be true is A) they will attempt to maximize the difference between total revenues and total costs.

Explanation:

The basic formula that is used to calculate profit is  -

Profit = Total revenue - Total cost

Profit maximization is a concept according to which a firm who is looking for maximizing its profits, should choose that optima level of output where its marginal cost ( cost that is incurred because of producing one additional unit of good ) and marginal revenue ( change in revenue because of change in sales ) are same.

When the marginal revenue is greater than the marginal cost , it means that the revenues generated by producing additional quantity of goods is greater than the cost incurred on producing them, so hence we can say that for maximizing profit , a firm would want that the gap between revenue and cost is higher.

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3 years ago
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