To determine the answer to this, let us first determine the
interest using the formula:
Interest = Principal amount * Interest rate * Number of
months / 12
September to December would be 4 months, therefore:
Interest = $50,000 * 0.06 * 4/12
Interest = $1,000
Therefore the adjusting entry should be:
debit to Interest Expense of $1,000
The economy, as a system, represents the flow of the resources from the production through consumption. In fact, economy is the line of production and distribution and as well as the consumption of the goods and services in any given areas around the globe.
Answer:
$35,000
Explanation:
Data provided in the question:
Accounts Receivable at the start of the year = $6,000
Accounts Receivable at the end of the year = $9,000
Revenues for the period = $38,000
Now,
cash collected from the customers
= Beginning balance + Revenue for the year - Ending balance of account receivable
= $6,000 + $38,000 - $9,000
= $35,000
1. Direct
2. Indirect
I think this is correct.
The economic uncertainty in the U.S. market and the customers' preferences.
