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mr Goodwill [35]
3 years ago
5

Flamingo Company borrows $30,000 using a five-year, long-term installment note payable. The rate on the note is 5 percent and Fl

amingo agrees to make monthly payments of $566.14. When Flamingo records its first payment on the note payable, what will the journal entry look like (without the numbers).
Business
1 answer:
masya89 [10]3 years ago
7 0

Answer:

Interest expense = 30,000*5%*1/12

Interest expense = 30,000*0.00416666667

Interest expense = $125.0000001

The journal entry will be:

Description                  Debit        Credit

Interest expense          $125  

Notes payable             $441.14  

Cash                                               $566.14

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It prohibits separate State taxation IF it hinders inter State and International trading. It also prohibits each State from setting up independent import and export duties without the approval of the Federal Government, that is, the Congress.

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In a contingent contract
Korvikt [17]

Answer:

C. the payoffs are dependent upon another​ variable, such as revenue or profit.

Explanation:

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3 years ago
Inspection costs at one of Ratulowski Corporation's factories are listed below: Units Produced Inspection Costs April 906 $ 16,3
-Dominant- [34]

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