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Brrunno [24]
3 years ago
8

On June 1, 2018, Jensen Company acquired an 6.2%, ten-month note receivable from a customer in settlement of an existing account

receivable of $180,000. Interest and principal are due at maturity.
The proper adjusting entry at December 31, 2018, with regard to this note receivable includes a


a. Debit to Notes Receivable of $11,160.

b. Credit to Interest Revenue of $11,160.

c. Debit to Cash of $6,510

d. Debit to Interest Receivable of $6,510.
Business
1 answer:
Amiraneli [1.4K]3 years ago
7 0

Answer:

d. Debit to Interest Receivable of $6,510.

Explanation:

To interest receivable = $180,000 * 6.2% = $11,160

Interest receivable for 7 months (June 1 - December 31) = $11,160 * (7/12) = $6,510

Therefore, the proper adjusting entry at December 31, 2018, with regard to this note receivable includes a <u>debit to Interest Receivable of $6,510</u>.

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<h3>What is expected value?</h3>

In mathematics under the probability distribution theory, the expected value is the weighted average of possible values of some random variables.  The weights are based on the theoretical probabilities of the variables.

<h3>Data and Calculations:</h3>

Cost per unit = $20

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1.    50 units             40%                 20 units (50 x 40%)

2.   60 units             50%                 30 units (60 x 50%)

3.   70 units              10%                    7 units (70 x 10%)

Total expected demand units =    57 units

Thus, the expected demand in February is <u>57 units</u>.

Learn more about calculating expected values at brainly.com/question/10675141

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