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mixas84 [53]
3 years ago
11

On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest was payable at maturi

ty. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period.
Business
1 answer:
taurus [48]3 years ago
5 0

Answer and Explanation:

The journal entries are shown below:

Cash $84,000,000  

         To Notes payable  $84,000,000

(Being issuance of the note is recorded)

Interest expense($84,000,000 × 15% × 3 ÷ 12) $3,150,000  

          To Interest payable  $3,150,000

(Being interest expense is recorded)

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Answer:

Introductory rate is 1.99%

After first 6 months.

APR for purchase is 8.99%

Regular APR for purchases is 12.99%

Explanation:

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When pitching your budget to decision makers, focus on conveying two things: First, demonstrate ROI from the current year, and s
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In conclusion, after demonstrating the ROI from current year, we should showcase the value of our initiatives, campaigns and goals for coming year.

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3 0
3 years ago
True or False?
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The answer is True                .

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3 years ago
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Jeffery Brooks has just landed a job as the produce manager for a large grocery store. The store manager mentioned that last sum
tiny-mole [99]

Answer:

The correct answer is: a 10% increase in the price of cantaloupes will increase the quantity demanded of water melons by 11%.

Explanation:

The produce manager of a large grocery store is informed that the cross-price elasticity of demand between cantaloupes and water melons is 1.10.  

The cross-price elasticity of demand is a measure to calculate the change in demand for a commodity due to a change in the price of another commodity.  

It is calculated as a ratio of the percentage change in demand and percentage change in price.  

A positive price elasticity implies that the two goods are substitutes. An increase in the price of one good leads to an increase in the demand for another.  

The cross elasticity can be calculated as,

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Let's assume that the price of cantaloupes increases by 10%.

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Answer:

C.

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