Answer:
B. Debit Cash $8,262; credit Interest Revenue $162; credit Notes Receivable $8,100.
Explanation:
The journal entry to record the payment at the maturity date is as follows:
Cash Debit $8,262
Interest revenue Credit $162
Notes receivable Credit $8,100
Calculation: Interest revenue = $8,100 × 8% = (648 ÷ 360) × 90 = $162
Therefore, cash = Interest revenue + Notes receivable = $162 + $8,100 = $8,262.
Therefore, option B is correct.
Answer:
$3 per unit
Explanation:
In short run a monopolist and competitive firm try to maximize their profit and minimize costs until the the marginal revenue equals to the marginal cost.
In this question the average variable cost is lower than the marginal cost the difference between both is the profit for the short run.
Economic profit = Cost saving
Economic profit = Marginal Cost - Average variable cost
Economic profit = $8 - $5
Economic profit = $3
Answer:
Assuming Blain uses the aging method to estimate uncollectible accounts expense, the amount of uncollectible expense will be:
$1050
Explanation:
Aging
Current 10000 2% 200
1-30 5000 5% 250
31-60 3000 10% 300
Over 60 800 50% 400
1150
Allowance bad debts 100
Expense 1050
Answer:
First Year Depreciation: 12,400
Second Year Depreciation: 7,440
Explanation:
To calculate each period depreciation we multiply the book value by the double-declining rate of 2/5
At the last year, you will depreciate until salvage value is reached.
Answer:
true
Explanation:
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