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Minchanka [31]
3 years ago
13

On August 1, 2020, Ascent Corp. borrowed $80,000 cash on an 8-month note payable with a 7% annual rate that requires Ascent to p

ay all the interest and principal on April 1, 2021. Assuming the necessary adjusting entry to accrue interest expense was properly recorded on December 31, 2020, the journal entries to record the payment of interest on April 1, 2021 will include a (Round to the nearest whole dollar, if necessary):
Business
1 answer:
Ipatiy [6.2K]3 years ago
6 0

Answer and Explanation:

The computation is shown below:

Interest payable:

= Borrowed amount × rate of interest × given months ÷ total months

= $80,000 × 7% × 5 ÷ 12

= $2,333.33

And,

Interest expense:

= Borrowed amount × rate of interest × given months ÷ total months

= $80,000 × 7% × 3 ÷ 12

= $1,400

So here for recording the payment of interest the interest payable is debited for $2,333.33

The same is to be considered

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2 years ago
30) The theme dominating global financial markets today is the complexity of risks associated with financial globalization. List
ZanzabumX [31]

Answer and Explanation:

The following are the examples:

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3. Many of the countries would continue the balance of payment that represent the country would import more goods, services as compared with the exports that would become dangereous

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Globalization increases the interdependency of the world's countries. Inflation in one country would most likely
Lina20 [59]
The correct answer for the question that is being presented above is this one: "D. relate to inflation in other countries." Globalization increases the interdependency of the world's countries. Inflation in one country would most likely <span>relate to inflation in other countries.</span>
Here are the following choices:
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Answer:

The correct answer is letter "D": Flexible workforce.

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A) Divisibility can easily be divided into smaller value.
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