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spin [16.1K]
3 years ago
11

On April 1, Holton Company borrows $100,000 from West Bank by signing a 6-month, 6%, interest-bearing note.

Business
1 answer:
topjm [15]3 years ago
8 0

Answer:

A. Dr Cash $100,000

Cr Notes Payable $100,000

B. Dr Interest expense $1,500

Cr Interest Payable $1,500

Explanation:

a Preparation of the entry on April 1 when the note was issued.

Dr Cash $100,000

Cr Notes Payable $100,000

(To record note issued)

B. Preparation of any adjusting entries necessary on June 30 in order to prepare the semiannual financial statements

Dr Interest expense $1,500

Cr Interest Payable $1,500

($100,000 x .06 x 3/12)

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maw [93]

it's known as fiscal policy

6 0
2 years ago
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information:
QveST [7]

Answer:

Option (B) is correct.

Explanation:

Adjusted cash balance as per books:

= Cash balance per company books on April -  Bank charge for printing new checks + Note receivable and interest collected by bank on Donahue’s behalf - A check paid to Donahue during the month by a customer is returned by the bank as NSF

= $6,185 - $135 + $590 - $660

= $5980

3 0
3 years ago
Below is the 6-step process for making chocolate chip cookies: 1) combine the flour, baking soda, salt in one large bowl 2) comb
goblinko [34]

Answer:

Correct answer is C.

<u>DPMO is approximately 45000</u>

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Total opportunities= 10000

DPMO = (Defects / Opportunities) * 1000000

= (450 / 10000) * 100000

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4 0
4 years ago
ABC Lawn Care service continuously makes an effort to set up multiple points of interaction with its customers. ABC wants to pro
Leya [2.2K]

Answer:

b. It emphasizes making a one-time sale

Explanation:

Relationship selling is a when a seller focuses on building connections with customers when selling a product. This is a longer term strategy to make repeat buyers of the customer.

The focus is not on price rather it is on interaction with customers.

One time sales therefore is not consistent with relationship selling.

In the given scenarionABC wants to provide lawn care every week to keep its customers' yards looking manicured and ultimately to develop a relationship with its customers.

This is an example of relationship selling.

8 0
3 years ago
Savings accounts are different from investments in that they:
masha68 [24]
The answer would be C.
savings accounts typically have lower earning potentials than investments do. 
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