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Nastasia [14]
2 years ago
6

A company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. Demonstrate the required adj

usting entry for this company by completing the following sentence. The required adjusting entry would be to debit the Interest __________________ account and ___________________ the Interest ___________________ account.
Business
1 answer:
baherus [9]2 years ago
6 0

Answer:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

Explanation:

The number of days that a loan debt stays unpaid is referred to as the outstanding number of days.

In line with the general accounting rules, all expenses must be debited. Therefore, the interest expense has to be debited.

Interest payable, however, is the amount owed to a lender by a firm and is thus credited as the matching journal entry to the interest expense.

Therefore, we have:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

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3 0
2 years ago
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Answer:

True

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5 0
2 years ago
A firm is evaluating a project with an initial investment at time 0 of $640,000. The present value of the levered cash flows is
monitta

Answer:

Using the flow-equity method of valuation the borrowed is $67600,option B.

Explanation:

In order to determine the amount borrowed in executing the project, we make use of the below formula which shows that we are working  backwards.

Amount borrowed=present value of cash inflows-levered cash flows

present value of cash inflows=net present value+initial investment

present value of cash inflows=$157000+$640000

present value of cash inflows=$797000

levered cash flows=$729400

Amount borrowed=$797000-$729400

amount borrowed =$67600

8 0
3 years ago
Describes how consumers ______ purchase decisions and how they _____ and _________ of the purchased goods and services. It inclu
algol13

Answer:

Make - Use - Dispose

Explanation:

Consumer Behavior describes how consumers make purchase decisions and how they use and dispose of the purchased goods and services. It includes factors that influence purchase decisions. In order to make and build successful brands, knowing consumer behavior is very important. Large organisations and brands are always in search of exploring and knowing what consumers are purchasing, how they are purchasing, when they are purchasing and how much they are purchasing. They are also in search of who actually make the buying decision, how he or she makes that decision, how many people are involved in buying decision and how they use their products etc.

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3 years ago
According to the text, thinking about your "academic anatomy" preference is a way to:
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Here is the answer that best completes the statement above. According to the given text, when you are thinking about your "academic anatomy", this preference is a way to get a handle on what you feel satisfying and fulfilling. Hope this helps.
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