Answer:
Step-by-step explanation:
S+J+M=36
J=S-2 or J=x-2
M=S-16 or M=x-16
Answer: 5
Step-by-step explanation:
Given:
Payee: Vanderbilt Corporation
Notes Receivable from Stanford Company
<span>$12,000, 7%, 8-month
Debit Credit
October 1, 2016
Notes Receivable 12,000
Cash 12,000
*to record notes receivable from Stanford Company
December 31, 2016
Interest Receivable 560
Interest Income 560
12,000 * 7% * 8/12 = 560
*to recognize interest earned but not yet received
June 1, 2017
Cash 12,560
Notes Receivable 12,000
Interest Receivable 560
*to recognize full payment on note.</span>
By multiplying both sides of an equation by a number, you can eliminate all decimals and fractions, so the answer is C.
