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tatuchka [14]
3 years ago
6

On September 1, 2012, Daylight Donuts signed a $200,000, 8%, six-month note payable with the amount borrowed plus accrued intere

st due six months later on March 1, 2013. Daylight Donuts records the appropriate adjusting entry for the note on December 31, 2012. In recording the payment of the note plus accrued interest at maturity on March 1, 2013, Daylight Donuts would
a. Debit interest expense, $5,333.
b. Debit interest payable, $2,667.
c. Debit interest expense, $2,667.
d. Debit interest expense, $8,000.
Business
1 answer:
Varvara68 [4.7K]3 years ago
3 0

Answer:

c. Debit interest expense, $2,667.

Explanation:

The adjusted journal entry is shown below:

Interest expense A/c Dr $2,667

         To Interest payable A/c $2,667

(Being accrued interest adjusted)

The interest expense is computed below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $200,000 × 8% × (2 months ÷ 12 months)

= $2,667

The 2 months is calculated from December 31, 2012 to March 1, 2013

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The Amount of Preferred Dividend per year = $8,000 [$100,000 x 8%]

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4 years ago
Johanna, an Austrian citizen, is graduating from a U.S. medical school. She knows she will have to pay a much higher percentage
Ierofanga [76]

Answer:

C,<em> Brain drain</em>

<em></em>

Explanation:

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Your bagel company has a market share of 7% of area breakfast sales and you have a goal to increase that to 10% in 1 year. The m
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$105,000

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An increase of $105,000 is required to achieve a market share of 10%

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Answer:

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