The interest income account is debited and the cash account is credited in the journal entry for interest on a note receivable.
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What are Notes payable?</h3>
Long-term obligations known as notes payable represent the sums that a firm owes its financiers, including banks and other financial institutions as well as other funding sources like friends and family. They are considered long-term since they are due after a year, though typically within five years.
Thus, the journal entry of interest on notes payable can be referred to in the below image.
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Answer:
1. Starting with existing data. You most likely have existing data at your fingertips.
2. Interviewing stakeholders.
3. Mapping the customer process.
4. Mapping the customer journey.
5. Conducting “follow me home” research.
6. Interviewing customers.
7. Conducting voice of customer surveys.
8. Analyzing your competition.
Answer: DEFENDER
Explanation: An adaptive strategy is a strategy put in place by business organisations in order to survive or remain profitable or in business during hard and unpredictable economic conditions. It helps the business to think beyond the usual to make certain strategic changes and decisions.
According to Adaptive strategy Hohner will most likely be described as A DEFENDER as it product has a steady demand rate with a very high market share.
Answer:
C.
Explanation:
Based on the information provided within the question it can be said that the actual meaning of using this term when referring to a firm is the opportunity cost of producing a good or service, which includes both implicit and explicit cost. Meaning what the firm is giving up in order to produce that good or service which can be money, assets, or other opportunities which could be chosen instead.
Answer:
$960,000
Explanation:
Calculation to determine the corporation's taxable income for this year
Using this formula
Taxable income=Book income+Depreciation Expense-Asset
Let plug in the formula
Taxable income=$1,000,000+$20,000-$60,000
Taxable income=$960,000
Therefore the corporation's taxable income for this year is $960,000