Answer:
The correct option is Debit Notes Receivable $100,000; credit Accounts Receivable $100,000
Explanation:
The journal entry to record when the notes receivable was signed to credit accounts receivable with the original value of the debt and debit same amount to notes receivable as is the case with the first option.
The interest due on the notes of $2,000 ($100,000*12%*2/12) would be recognized when the notes receivable become due for payment not immediately
1. Set up a solo 401k if you are self-employed you can actually start it for yourself as a solo participant
2. Fund a traditional IRA
3. Open a Roth IRA
4. Talk to a financial professional
Answer:
Answer for the question:
Aaron has a successful business with $50,000 of income. He purchased one new asset, a new machine that is 7-year MACRS property, with a cost of $7,000. Of the options available for tax depreciation, what is the largest write-off Aaron could legally take this year?
is given below.
Explanation:
Answer:9 c.Non residental real Property is depreciated over 39 years.
Because residental real Property is depreciated over 27.5 years.
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step 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.
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