1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tatiana [17]
2 years ago
10

2018

Business
1 answer:
patriot [66]2 years ago
4 0

Answer:

Journal Entries

2018

Feb. 1 Debit 6% Note Receivable (Candace Smith) $12,000

Credit Cash $12,000

To record receipt of a one-year, 6% note.

Apr. 6 Debit 12% Note Receivable (Park Pro) $6,000

Credit Sales Revenue $6,000

To record receiving a 90-day, 12% note.

Apr. 30 Debit Interest Receivable $230

Credit Interest Revenue $230

To accrue interest revenue for both notes.

Explanation:

a) Data and Analysis:

2018

Feb. 1 6% Note Receivable (Candace Smith) $12,000 Cash $12,000

a one-year, 6% note.

Apr. 6 12% Note Receivable (Park Pro) $6,000 Sales Revenue $6,000, receiving a 90-day, 12% note

Apr. 30 Interest Receivable $230 Interest Revenue $230

($12,000 * 6% * 3/12) + ($6,000 * 12% * 25/360)

= $180 + $50

= $230

You might be interested in
This document is published by the Office of Inspector General (OIG) every year. It details the OIG's focus for Medicare fraud an
olga nikolaevna [1]

Answer:

<em>The OIG's Workplan</em>

Explanation:

Work planning process for the Office of Inspector General (OIG) has always been vibrant and improvements have been created during the year to satisfy objectives, and with the available resources to anticipate and respond to emerging issues.

<em>The OIG Work Plan establishes various projects, such as OIG audits and evaluations which are yet to be established or arranged to be tackled by OIG's Audit Services Office and Evaluation and Inspections Office during the fiscal year and beyond.</em>

3 0
3 years ago
You want to be a millionaire when you retire in 35 years. a. How much do you have to save each month if you can earn an annual r
expeople1 [14]

Answer:

Monthly deposit= $164.24

Explanation:

Giving the following information:

Future value= $1,000,000

Interest rate= 0.118/12= 0.00983

Number of periods= 35*12= 420 months

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,000,000*0.00983) / [(1.00983^420) - 1]

A= $164.24

7 0
3 years ago
Vista components has found it needs to reorganize including a significant trim of its middle management, the action will likely
DENIUS [597]

Flattening the organization and empowering employees, allowing them to get close to the customer.

There are various legal types of organizations such as corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charitable organizations, non-profit organizations, partnerships, cooperatives, and educational institutions.

Hybrid Organization An entity that operates simultaneously in both the public and private sectors, carries out public missions, and develops commercial market activities.

Volunteer Associations are organizations made up of volunteers. Such organizations, including informal clubs and coordinating bodies, should establish jurisdictions, including informal clubs and coordinating bodies, with goals in mind that can be expressed in manifestos, mission statements, or in ways that reflect their activities in an informal way.

Depending on the circumstances, we may be able to operate without legal process. Remember, every action of an organization, legal or illegal, reflects its goals.

learn more about the organization here.  brainly.com/question/24448358

#SPJ4

8 0
1 year ago
Define bank run in your own words.​
lina2011 [118]

Answer:

A bank run occurs when a large number of customers of a bank or other financial institution withdraw their deposits simultaneously over concerns of the bank's solvency. As more people withdraw their funds, the probability of default increases, prompting more people to withdraw their deposits.

5 0
2 years ago
True or false: The allowance method of accounting for bad debts records the loss from an uncollectible account receivable when i
PSYCHO15rus [73]

Answer:

false

Explanation:

The allowance procedure estimates bad debt expense before an uncollectible account receivable has been purposed to be uncollectible.

7 0
3 years ago
Other questions:
  • Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax
    5·1 answer
  • Based on the real interest rate, who tends to benefit from unanticipated inflation in terms of borrowing and lending?
    8·1 answer
  • During the​ ________ step of the selling​ process, the salesperson tells the value story to the​ buyer, showing how the​ company
    14·1 answer
  • 1. Suppose banks keep no excess reserves and no individuals or firms decide to hold more cash during the deposit expansion proce
    9·1 answer
  • ​Boeing's decision to build​ 80% of its wing flap motors​ in-house is an example of which​ strategy? A. Unrelated diversificatio
    6·1 answer
  • Wendell’s Donut Shoppe is investigating the purchase of a new $40,000 donut-making machine. The new machine would permit the com
    7·1 answer
  • Which government action is related to fiscal policy?
    8·2 answers
  • A stock has an average return of 19.2 percent and a standard deviation of 10.7 percent. In any one given year, you have a 95 per
    9·1 answer
  • The major drawback of taking out a loan to start a company is?
    11·1 answer
  • Below is the complete list of accounts of Sooner Company and the related balance at the end of April. All accounts have their no
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!