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frez [133]
3 years ago
7

Sheffield Corp. assigned $1601000 of accounts receivable to Pharoah Company as security for a loan of $1344000. Pharoah charged

a 2% commission on the amount of the loan; the interest rate on the note was 9%. During the first month, Sheffield collected $404000 on assigned accounts after deducting $1480 of discounts. Sheffield accepted returns worth $5400 and wrote off assigned accounts totaling $11910. The amount of cash Sheffield received from Pharoah at the time of the assignment was
Business
1 answer:
Tpy6a [65]3 years ago
7 0

Answer:

$1,317,120

Explanation:

Cash received by Sheffield Corporation at the time of assignment = Amount borrowed - Commission paid

= $1,344,000 - ($1,344,000 * 2%)

= $1,344,000 - $26,880

= $1,317,120

So, the amount of cash Sheffield received from Pharoah at the time of the assignment was $1,317,120

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Western Union is in the business of providing a medium for international money transfers. Through the services of Western Union,
tatiyna

Answer: core service

                                                 

Explanation: In simple words, core service refers to the service which are of highly value and importance to the user or provider or both.

These services are considered be essential for smooth operations of an economy or the organisation as the case may be.

In the given case, Western union has the business of transferring payments internationally. Hence we can conclude that they are providing the core service of their business.

5 0
3 years ago
A bank advertises a 3/1 ARM at 4.65% with a 3/9 cap. . . What is the maximum interest rate that can be charged during the fifth
IRINA_888 [86]
<span>"a 3/1 ARM" means starting at a fixed interest rate for the first 3 years and the interest rate will adjust every year after the first three years  up to the part where it mentions a "3/9 cap". This on the other hand tells us that the increase will be 3% each time there is an interest rate increase and the max increase is 9%. Hence the answer is 9%</span>
8 0
3 years ago
An informal trade barrier is created by government actions.<br> Oa. True<br> Ob. False
Degger [83]
The answer is true let me know if I helped
7 0
3 years ago
A(n)
Alex787 [66]

Answer:

Flexible manufacturing systems (FMS)

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FMS stands for the Flexible manufacturing systems, which is described as the method of production, which is designed in order to adapt the changes in the kind and the quantity of the product which is being manufactured.

The computerized systems and the machines could be configured to manufacture the variety of the parts and handle the production changing levels.

Therefore, the FMS is the one which is a single production system that combines the CIM (Computer Integrated Manufacturing) and the electronic machines.

3 0
3 years ago
The net decrease in Prepaid Expenses (Prepaid) amounts to $30,000 and the net decrease in Accounts Payable (AP) is $20,000. Assu
tester [92]

Answer:

Net decrease in prepaid expenses of $30,000 will be added to the net income in adjustments to net income because it will be considered that working capital (inventory or any other expense) has been generated by the operations.

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So, net income will be increased by $10,000 as net effect of the above adjustments.

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3 years ago
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