Answer:
When issuing a check to a creditor as is being done here, you need to debit the creditors account (Accounts Payable) to show that you are paying off the debt.
You also need to credit cash because a credit will show that cash was used to pay for something and so has reduced.
Date Account Title Debit Credit
XX-XX-XXX Accounts Payable - Saurya Stores Rs. 39,000
Cash Rs. 39,000
Someone who is retiring has more experience on what to invest in than someone who is still getting used to knowing what to invest in
Answer: 12.47%
Explanation:
First convert the APR to the relevant periodic rate.
The compounding is done daily so the periodic rate is:
= 11.75%/365
Effective Annual rate is calculated by the formula:
= ( 1 + periodic rate) ^ compounding period per year - 1
= ( 1 + 11.75%/365)³⁶⁵ - 1
= 12.47%
If the market for a good that sees its production costs and prices rise is inelastic, the quantity demanded will not change.
<h3>What is inelastic demand?</h3>
A good that has inelastic demand is one that will not see its demand change much when there is a price change.
This means that demand remains more or less the same even if prices rise. Examples of such goods are water and food. The product above will therefore not see its demand change by much.
Find out more on inelastic demand at brainly.com/question/24384825.
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