Our culture has become accustomed to debt mainly because the capitalist system in which we find ourselves favors the management of loans for the acquisition of goods and services.
These, due to their cost, are difficult or impossible to access through cash payments without any type of installment or ease of payment.
Therefore, credit cards are ways of acquiring debt to finance certain consumption, which is why they have become a financial tool that is totally socially accepted.
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Answer:
Debit notes Payable $6,900
Debit interest expense $69
Credit cash $6,969
Explanation:
The interest amount payable on maturity is $6900*6%*2/12=$69
The actual principal remains at $6900
The appropriate entries would to debit notes payable with $6,900 and interest expense with $69 while the credit of $6969 goes to cash account representing an outflow to settle the obligation.
The rationale for this is that settle of an obligation would require debit the payable account.
Answer:
Impacting his clientele base with increased profitability and to extend the duration of customer relationships.
Explanation:
Maalik is focused on improving customer relationship management, impacting the profitability of existing customers and extending the duration of customer relationships by offering a service package at a discounted rate and a promotion that allows customers to trade in their old computers for new ones at much lower prices than his competitors can offer.
Market failure occurs when a free market is unable to A) distribute resources efficiently.
