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
Sonja [21]
3 years ago
9

On January 1, 2019, Mitchell Company leases equipment from Donelson Corp. for the equipment's entire useful life of six years. D

anelson acquired the asset for $239,826 and normally utilizes an 5% interest rate for these types of transactions. The annual lease payment is $45,000, and the first payment is made at the inception of the lease. Donelson should record which of the following in connection with the second payment?
1. Debit to interest expense of 11,991.
2. Credit to interest revenue of 11,991.
3. Debit to lease payable of $35,259.
4. Credit to lease receivable of $35,259.
Business
1 answer:
Margarita [4]3 years ago
7 0

Answer:

d. Credit to lease receivable of $35,259

Explanation:

Date    General Journal                Debit     Credit

           Cash                                 $45,000  

                 Lease receivable                      $35,259

                 ($45000 - $9741)

                Interest expense                       $9,741

                [($239826-$45000)*5%]

You might be interested in
_____ money is what's available after paying for the necessities of life
SVETLANKA909090 [29]
Surplus money is your answer

8 0
3 years ago
Read 2 more answers
As a customer acquisition technique, events: a. Are considered mostly ineffective compared to mobile advertising or social media
KonstantinChe [14]

Answer: a. Are considered mostly ineffective compared to mobile advertising or social media promotions.

Explanation:

Customer acquisition techniques refers to the strategies that are helps in the identification of the potential leads which are then converted into active customers. Such techniques include personalized offer design, automated email marketing etc.

As a customer acquisition technique, events are considered mostly ineffective compared to mobile advertising or social media promotions.

8 0
3 years ago
Why does a govemment place price ceilings on some "essential" goods?
Maru [420]
To limit the impact of equilibrium pricing
8 0
3 years ago
Read 2 more answers
A generation ago, workers tended to work for three to four employer(s) during their working years. Group of answer choices True
Sergio [31]
I believe your answer is true
8 0
2 years ago
Immediately upon receipt of cash, a responsible employee should
Ulleksa [173]

Answer:

B. Prepare a listing of remittances

Explanation:

The employee receives a cash receipt only when some expense is incurred on behalf of the company. This clearly validates that as soon as the receipt is received the listing of remittances shall be prepared.

This listing basically signifies that all the expenses shall be paid off, as incurred on behalf of company, or any kind of bill is pending for payment of goods acquisition, then it shall be paid off, and entered in the list where all remittances has to be made.

6 0
3 years ago
Other questions:
  • Which of the following is a problem that arises in a health insurance market?
    6·1 answer
  • Which of the following are true statements about T-bills? I. T-bills typically sell in denominations of $10,000 II. Income earne
    15·1 answer
  • Assume MU_c and Mu_d represent the marginal utility that a consumer gets from products C and D, the respective prices of which a
    15·1 answer
  • What is one result of an effective corporate compliance program in a healthcare facility?
    6·1 answer
  • Josh attends a job interview for a sales position at Millerton Corp. The interviewer at Millerton, Alisha, asks him open-ended q
    15·1 answer
  • An uncle executed a warranty deed granting a parcel of land to his nephew. The uncle placed the deed in his bedroom closet and t
    8·1 answer
  • HELP HELP HELP 10 POINTS
    14·1 answer
  • The General Fund of the City of Davis Fort has a total fund balance of $1,500,000 as of its fiscal year-end, December 31, 2019.
    6·1 answer
  • Upon completing an aging analysis of accounts receivable, the accountant for Rosco Works prepared an aging of accounts receivabl
    7·1 answer
  • What are REITs? please help
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!