Answer:
a. $169,800
Explanation:
As for the provided information we have,
Sales data, for each month
July $120,000
August $211,000
September $198,000
Cash receipt budgeted for September shall be:
36% of sale of the month of July = $120,000 
36% = $43,200
60% of sale of the month of August = $211,000 60% = $126,600
Thus, total expected amount = $169,800
Therefore, correct option is
a. $169,800
Answer and Explanation:
The journal entries are shown below:
On Feb 15
Purchases $800,000
To Accounts payable $800,000
(Being the purchase of inventory on credit is recorded)
On Mar 31
Accounts payable $800000
To Notes payable $800000
(Being the issuance of note is recorded)
On Sept 30
Notes payable $800,000
Interest expense $40,000
To Cash $840,000
(Being the payment of note and interest is recorded)
The interest expense is computed below:
= $800,000 × 10% × 6 months ÷ 12 months
= $40,000
The six months is calculated from Mar 31 to Sep 30
Only these entries are passed
Answer:
i hope all are safe and gappy in this time take care of youreself also health first thsn any work
Hello there,
The real output of the economy under conditions of full employment <span>is long-run aggregate supply.
Hope this helps!
~Hottwizzlers</span>
