Answer:
The journal entry which is to be recorded for the dishonored note is shown below:
Explanation:
The journal entry which is to be recorded for the dishonored note is as follows:
Accounts Receivable A/c..............................Dr $2,075
Notes Receivable A/c...................................Cr $2,000
Interest Revenue A/c......................................Cr $75
Being the note which is received got dishonored
As the note got dishonored so the accounts receivable account will be debited against the notes receivable account and the account of interest revenue is also credited.
Working Note:
Interest revenue = Amount of notes receivable × Rate × Months / Total number of months
= $2,000 ×5% × 9/12
= $75
Answer:
E) Discouraged workers are counted as unemployed
Answer:
$135
Explanation:
Given:
Total clients = 1700
Membership dues = $45
Increase in monthly dues = $1
Loss of clients per dollar increase = 7 clients
Thus,
let x be the number of dollar increases
therefore,
clients lost will be 7x
so the revenue function will be
f(x) = charges × Number of clients
or
f(x) = ( 45 + x ) × ( 1700 - 7x )
or
f(x) = 90000 - 315x + 1700x - 7x²
or
f(x) = 90000 + 1385x - 7x²
now,
for point of maxima or minima
differentiating with respect to x, we get
f'(x) = 0 + 1385 - 14x = 0
or
14x = 1385
or
x = 98.92 ≈ 98
thus,
to optimize the revenue from monthly dues the club should charge
( $45 + $90 ) = $135
D. Graphic designer is the answer
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