Nmskkkqkokswkkijnw!!!! Yes
Answer:
$1,320.19
Explanation:
Loan amount = $225,000
Rate = 5.80%
Years = 30
PMT = ?
Initial payment = PMT(Rate/12, Years*12, -225,000)
Initial payment = PMT(5.80%/12, 360, -225,000)
Initial payment = 1320.185230439806
Initial payment = $1,320.19
Therefore, the initial payment on the loan is $1,320.19
Answer:
The answer is given below;
Explanation:
The adjusting entry will be;
Income Statement Dr.$5,000
Inventory Cr.$5,000
As the NRV is less than cost,therefore difference amount will be charged to profit and loss account.