The answer is Letter D, debit to interest expense for $750.
The solution for this problem is Interest = Principle x Rate x Time
Interest = $50,000 x 0.09 x 60 days / 360 days
= $750
It is not letter A because the normal side of a liability is credit and there was no previous record of an interest payable, so you can't reverse the entry if you will pay for the interest.
It is not letter B because the $54,000 exceeds the amount actually borrowed plus the interest which is $750.
It is not letter C because the amount you would actually pay is $50,750.
It is letter D because you'll have to debit the Interest Expense which is the normal side of an expense account in order to know the charge of the debt that has occurred during the 60 days.
Answer:
a the card is either a queen or king
Step-by-step explanation:
the card could still be the queen of spades
Answer:
Mr. Chang will have 15714.90 dollars.
Step-by-step explanation:
p = 650
r =
Number of periods or n =
Future value formula is :
Putting the values in formula we get;
= $15714.90
Hence, Mr. Chang will have 15714.90 dollars.
Answer:
25 in^2 or inches squared
Step-by-step explanation:
5 in * 5 in = 25 in^2 (inches squared)
Answer:46.90
Step-by-step explanation:
1. 1. 3
4.12. 5.26. 26.30
× 5. × 5. +20.60
_______ _______ ---------
20.60. 26.30. 46.90