Answer:
$213,210
Explanation:
The computation of the amount needed to pay back is shown below:
= Note payable + interest expense for 2 months + interest expense for 4 months
where,
Note payable is $207,000
Interest expense for 2 months is
= $207,000 × 6% × 2 months ÷ 12 months
= $2,070
The 2 months is calculated from Nov to Dec 31
And, the interest expense for 4 months is
= $207,000 × 6% × 4 months ÷ 12 months
= $4,140
The 4 months is calculated from Dec 31 to May 1
So, the total amount needed is
= $207,000 + $2,070 + $4,140
= $213,210
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
It is C.
Explanation:
When food is delivered to the table, the server does not have to ask the guests to identify who ordered what because they eat whatever is being ordered by people at their table. Hope this helps :)
Answer:
b) $22, 326 and $16, 900
Explanation:
The computation is shown below:
Budgeted cash sales
July cash sales
= $15,000
August sales
= July sales + July cash sales × monthly increase
= $15,000 + $15,000 × 22%
= $15,000 + $3,300
= $18,300
September sales
= August sales + august sales × monthly increase
= $18,300 + $18,300 × 22%
= $18,300 + $4,026
= $22,326
Budgeted credit sales
July cash sales
= $10,000
August sales
= July sales + July cash sales × monthly increase
= $10,000 + $10,000 × 30%
= $10,000 + $3,000
= $13,000
September sales
= August sales + august sales × monthly increase
= $13,000 + $13,000 × 30%
= $13,000 + $3,900
= $16,900
