1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lys-0071 [83]
3 years ago
12

On November 1, Bahama National Bank lends $3.7 million and accepts a six-month, 9% note receivable. Interest is due at maturity.

Record the acceptance of the note and the appropriate adjustment for interest revenue at December 31, the end of the reporting period.
Business
1 answer:
Charra [1.4K]3 years ago
6 0

Answer:

11/01

Dr Cash $3.7 million

Cr Notes Payable $3.7 million

12/31

Dr Interest expense $55,500

Cr Interest payable $55,500

Explanation:

Preparation of the journal entries to Record the issuance of the note and the appropriate adjustment for interest expense at December 31, the end of the reporting period.

11/01

Dr Cash $3.7 million

Cr Notes Payable $3.7 million

(To record issuance of the note)

12/31

Dr Interest expense $55,500

Cr Interest payable $55,500

(To record adjustment for interest expense)

Interest Expense = Face Amount x Interest Rate x Time Period

Interest Expense= $3.7 million x .09x 2/12 Interest Expense=$55,500

You might be interested in
Which of the following is an example of the free-rider problem? a. Both Zoe and Zach receive low-cost dental care at the local d
Fittoniya [83]

Answer:

c. Bruce owns Buster, a large dog who barks whenever anyone walks near his house. Betty lives next to Bruce, and Buster's barking can be heard whenever anyone walks near her house, too. Thus, Betty receives free protection from burglars because of Buster's barking

Explanation:

Free rider is a form of market inefficiency that occurs when people benefit from a good or service but do not pay or underpay for the product.

Betty is receiving free protection from Bruce's dog.

I hope my answer helps you

7 0
3 years ago
Read 2 more answers
In the short​ run, a monopolistically competitive firm will A. select the rate of output where price equals marginal cost. B. ma
stepan [7]

Answer:

Option D is correct.

<u>Select the rate of output where marginal revenue equals marginal cost </u>

Explanation:

Reason: Profit = Revenue - Cost

To maximize profit we take the derivative. Results in in Max Profit occurring at Marginal Revenue = Marginal Cost

3 0
3 years ago
On January 1, 2019, Cullumber Company had $1,000,000 of common stock outstanding that was issued at par. It also had retained ea
Flauer [41]

Answer:

<em>a. Par value is $10, and market price is $19. b. Par value is $5, and market price is $20.</em>

Explanation:

4 0
3 years ago
The budget is one of the three values of earned value management and is also known as _____. a. actual cost b. indirect cost c.
enot [183]

Answer:

The correct answer is d. planned value

Explanation:

Among project managers, the Earned Value is one of the most demanded requirements of management tools. When we talk about it, we refer to Earned Value Management (EVM), a series of parameters that advise on the operation of the project based on a planning. The Earned Value will inform us of the cost and time deviations of the project. So, thanks to its functionality, we can make faster and more effective decisions, based on concrete data about the reality of the work performed.

4 0
4 years ago
Which explanation most likely accounts for the increase in the number of male butterflies in the five years after the initial pa
Stells [14]

The explanation most likely accounts for the increase in the number of male butterflies after the initial parasite problem is that male butterflies in the population survived had a gene that made them resistant to the parasite, as well as the gene, that was passed to their offspring.

So, the correct option is C.

A population's size might alter due to the occurrence of new people or species. The total number of living things that are present in a given habitat is referred to as its population. The scenario indicates that there are now considerably more men in the population. The male butterflies in the population that survived earlier had a gene making them resistant to the parasite, and they passed the gene on to their offspring, leading to the number of males to be increased in the population.

This increase in the number of population growth of males can be explained by the fact that the male butterflies in the population that survived earlier had a gene making them resistant to the parasite, and they passed the gene to their offspring.

Learn to know more about Parasite on

brainly.com/question/22589174

#SPJ4

The given question is incomplete. The complete question is:

A few years ago the population of male blue moon butterflies on the island of Samoa declined. One hypothesis for the decline of the male butterflies is that a parasite-infected the cells of female butterflies. The parasite was passed to offspring through the females’ eggs and killed the male butterfly embryos. At one point during the decline, nearly all the butterflies in the population were females, but after five years the number of males in the population increased significantly.

Which explanation most likely accounts for the increase in the number of male butterflies in the five years after the initial parasite problem?

A. Male butterflies in the population that survived were able to prey on the parasites living in the females’ egg cells.

B. Female butterflies in the population that survived had a genetic adaptation that allowed them to transform into male butterflies.

C. Male butterflies in the population that survived had a gene that made them resistant to the parasite, and they passed the gene on to their offspring.

D. Female butterflies in the population that survived were able to protect the male eggs from the parasite and provide extra care for the male offspring.

6 0
1 year ago
Other questions:
  • Stock r has a beta of 1.5, stock s has a beta of 0.75, the expected rate of return on an average stock is 13%, and the risk-free
    12·1 answer
  • Harvey automobiles uses a standard part in the manufacture of several of its trucks. the cost of producing​ 90,000 parts is​ $13
    11·1 answer
  • The Cash account of Safety Security Systems reported a balance of $ 2 comma 450 at December 31​, 2018. There were outstanding ch
    11·1 answer
  • Which of these assumptions is often realistic for a firm in the short run? a. The firm can vary both the size of its factory and
    10·1 answer
  • Francis Companyhas 24,000 shares of common stock outstanding at the beginning of 2019. Francis issued 3,000 additional shares on
    14·1 answer
  • A firm is evaluating an investment proposal which has an initial investment of $5,000 and cash flows presently valued at $4,000.
    13·1 answer
  • Alpaca Corporation had revenues of $270,000 in its first year of operations. The company has not collected on $18,700 of its sal
    10·1 answer
  • Third National Bank has reserves of $20,000 and checkable deposits of $100,000. The reserve ratio is 20 percent. Households depo
    9·1 answer
  • Management accounting is accounting for effective management. Explain this statement.​
    11·1 answer
  • How would a strong u.s. dollar impact the trade of grain produced in the united states? quizzez
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!