Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $2,480
To Interest receivable $60
To Interest revenue $20
To Note receivable $2,400
(Being the collection of funds is recorded)
The computation of interest receivable is shown below:
= Principal × rate of interest × number of months ÷ (total number of months in a year)
= $2,400 × 10% × (3 months ÷ 12 months)
= $60
And for interest revenue would be
= Principal × rate of interest × number of months ÷ (total number of months in a year)
= $2,400 × 10% × (1 months ÷ 12 months)
= $20
Answer:
c. is a record of all accounts maintained by a company and their amounts.
Explanation:
A ledger is a record of all the company's transaction. A ledger is a separate accounting record within the general ledger.
Ledgers are specific to the various elements of a financial statement such as assets, liabilities, equity, expenses etc. Examples include the cash ledger, inventory ledger, accounts receivables ledger, accounts payable ledger.
The right option is c. is a record of all accounts maintained by a company and their amounts.
Money in the account after four years= 23850.372
Given, P = 20,000
R = 4.5%
T = 1
n = 4
To calculate Compound interest, we will use formula A = P(1 + r/n)^nt
where p = principal amount,
r = rates of interest
n = number of times interest applied per time period
t = number of time periods elapsed
After putting values,
A = 20000(1 + 4.5/4 )^(4*1)
= 23850.372
To learn more about compound interest from the given link
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Answer:
A. Land, land improvements, buildings, and equipment.
Answer: Affordable Care Administration
Explanation:
The Affordable Care Act was out in place in order to give health insurance coverage to the people in America that are uninsured.
It should be noted that the rights of an employee rights during the Affordable Care Administration inspections include the right to refuse to be interviewed, or if an employee agrees to an interview, they can request that an employer representative be present or that the interview be held in private.