Answer:
DR Interest receivable 26,400
CR Interest revenue 26,400
Explanation:
As first lease has already been paid, the amount left of the lease is;
= 280,000 - 40,000
=$240,000
Interest is 11% so the interest to be received in December is;
= 11% * 240,000
= $26,400
This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.
Answer: The answer is Trend extrapolation
Explanation:
Answer:
Debit Sales Returns and Allowances $500; debit Merchandise Inventory $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150.
Explanation:
Based on the information given the required appropiate journal entry to record the return on the books of the seller, in a situation were the goods can be sold to another customer is :
Debit Sales Returns and Allowances $500
Debit Merchandise Inventory $150
Credit Accounts Receivable $500
Credit Cost of Goods Sold $150
(To record the return on the books of the seller)
Answer: All of these choices are correct.
Explanation:
You didn't give the options to the question. The options include:
testing costs prior to placing the equipment into production
transportation costs
installation costs
All of these choices are correct.
Acquisition cost, is the total cost that is recognized by a company on its books for the purchase of an asset. These costs include the transportation cost, installation cost, shipping cost, testing costs, sales taxes, customs fees, etc.
Therefore, based on the explanation, the correct option is All of the choices are correct.
