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Gemiola [76]
2 years ago
7

2018

Business
1 answer:
Juliette [100K]2 years ago
5 0

Answer:

Feb 6

Dr Account receivable $97,000

Cr Sales revenue $97,000

Jul 1

Dr Notes receivable $18,000

Cr Cash $18,000

Dec 31

Dr Interest receivable $630

Cr Interest revenue $630

July 1

Dr Cash $19,260

Cr Notes receivable $18,000

Cr Interest receivable $630

Cr Interest revenue $630

(To record collection)

Explanation:

Preparation of the journal entries

Feb 6

Dr Account receivable $97,000

Cr Sales revenue $97,000

(To credit sales)

Jul 1

Dr Notes receivable $18,000

Cr Cash $18,000

(To record loan given)

Dec 31

Dr Interest receivable ($18000*7%*6/12) $630

Cr Interest revenue $630

(To record accrued interest)

July 1

Dr Cash $19,260

($18,000+$630+630)

Cr Notes receivable $18,000

Cr Interest receivable $630

Cr Interest revenue $630

(To record collection)

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Answer:

The expected return is 10.95%

Explanation:

CALCULATE THE EXPECTED RETURN OF X

State _____Probability __X_____Expected return

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Normal ___ 0.60 ______15%  ___ 9.00%

Recession _0.15 _______5% ___ <u>0.75%  </u>

Total ______________________<u>15.25%</u>

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Boom ____ 0.25 ______10%  ___ 2.50%

Normal ___ 0.60 ______9%  ____5.40%

Recession _0.15 _______8% ___ <u>1.20%  </u>

Total ______________________<u>9.10%</u>

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