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MAXImum [283]
2 years ago
10

The following errors took place in journalizing and posting transactions:

Business
1 answer:
kirill115 [55]2 years ago
6 0

Answer: See explanation

Explanation:

The journal entry to correct the errors is given below:

a. Dr Cash $8400

Cr Account receivable $8400

b. Dr Supplies $2500

Cr Office equipment $2500

Dr Supplies $2500

Cr Account Payable $2500

Note that the first entry that's given in (b) above reverses the incorrect entry. On the other hand, the second entry simply records the correct entry.

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Analyzing the client's personal and financial circumstances.

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8 0
3 years ago
a semiannual interest of 3.5%. Any money he invests would have to be left in the fund for at least five years if he wanted to wi
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Answer:

Results are below.

Explanation:

Giving the following information:

The semiannual interest of 3.5%.

A) We need to calculate the nominal interest rate:

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B) Real interest rate:

Real interest rate= (1.0175^2) - 1= 0.03531

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We will use the following formula:

FV= PV*(1+i)^n

n= 10

i= 0.175

PV= 8,000

FV= 8,000*(1.0175^10)

FV= $9,515.56

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