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erastovalidia [21]
3 years ago
5

What is a type of short-term financing that consists of unsecured promissory notes that mature in 270 days or less? Multiple Cho

ice Trade credit Line of credit Commercial paper Secured loan
Business
1 answer:
Ksenya-84 [330]3 years ago
4 0

Answer:

Commercial paper

Explanation:

Commercial paper is a term in business or economics that describes money-market security issued by corporation, which is considered unsecured, so as to obtain funds to meet short-term debt or obligation, such as financing of payroll, and inventories.

It is supported only by issuing bank or company promise to pay the face amount on the maturity date often 270 days or less, as specified on the note.

Hence, COMMERCIAL PAPER is a type of short-term financing that consists of unsecured promissory notes that mature in 270 days or less.

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Near the end of 2010, the ledger of Stivers Company included the following accounts and balances: Allowance for Doubtful Account
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Answer and Explanation:

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For Accounts receivable  

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for Allowance for Doubtful Accounts  

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$11,000 Credit balance

The journal entry is  

Bad debt expense a/c …Dr   11000  

      To Allowance for Doubtful Accounts 11000  

The Closing balance of Allowance for Doubtful Accounts 12000 Credit balance

For Bad debt expenses  

The journal entry is    

Bad debt expense a/c …Dr   11000  

      To Allowance for Doubtful Accounts 11000  

The Closing balance of Bad debt expense account 0

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3 years ago
Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smiths
OleMash [197]

Answer:

The correct answr is C.

Explanation:

Giving the following information:

Cost Machine Hours

January $52,200 20,000

February 75,000 29,000

March 57,000 22,000

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Variable cost per unit= (Highest activity cost - Lowest activity cost)/ highest activity units - Lowest activity units)

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Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 75,000 - (2.53*29,000)= 1600

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 52,200 - (2.53*20,000)= 1600

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Answer:

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Explanation:

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Answer:

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