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3 years ago

Hi, im very b0red lol

Business

2 answers:

lilavasa [31]3 years ago

4 0

Same!!! whats up?. how are you?

zubka84 [21]3 years ago

3 0

Sameee ugh lol!! Wanna talk :/

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Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W

umka21 [38]

Answer:

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

Following are selected transactions for Vitalo Company.

Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.

As at November 1

Account receivable = $6,000 and Note Receivable = $6000

Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.

As at December 31

Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

4 0

3 years ago

Read 2 more answers

Journal EntryThe company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $

Mkey [24]

Answer:

Sales Discounts 190 debit

Allowance for Sales Discounts 190 credit

Explanation:

From the current accounts receivable, the company has 10,000 within discount period and t expect the customer will take them so:

10,000 x 2% = 200 expected discount

currenly the accouting balance for the expected discount is 10 so:

200 - 10 = 190 allowance for sales discounts adjustment.

Remember we do this adjustment to match the expenses or discount withthe period they are generated. Not doing so, will imput discount to the next period for transaction which occurs in the current one.

3 0

3 years ago

You are given the following data on the Employed, Unemployed, and the Labor Force for 1997: Population 16 years old or over (mil

otez555 [7]

Answer:

136.30 million

Explanation:

Total Labor force = Total of the Unemployed + Total of the Employed

Total Labor force = 129.6 million + 6.7 million

Total Labor force = 136.30 million

So, the total labor force in millions in the economy for 1997 equals 136.30 million

5 0

3 years ago

What are aspects of a free enterprise system?

Ierofanga [76]

Answer:

A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition.

Hope this helps!

7 0

3 years ago

Which action is an example of the United States using economic influence as a tool of foreign policy?

yan [13]

Answer:

Econimy Can use alot of help by influencing more things for their city.

Explanation:

Is there an option tho?

7 0

3 years ago