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mestny [16]
3 years ago
15

A $6,000, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this eve

nt is A. debit Cash, $6,120 credit Notes Receivable, $6,120B. debit Accounts Receivable, $6,120 credit Notes Receivable, $6,000 Credit Interest Receivable, $120C. debit Notes Receivable, $6,060 credit Accounts Receivable, $6,060D. debit Accounts Receivable, $6,120 credit Notes Receivable, $6,000Credit Interest Revenue, $120
Business
1 answer:
Dafna1 [17]3 years ago
5 0

Answer:

Option (B) is correct.

Explanation:

On November 21,

Note amount = $6,000

Period = 60-day

Interest rate = 12%

When Note is not paid by the market at maturity, then

The Accounts Receivable Account is debited with the Par Value of Note plus interest income and credited Notes Receivables $6,000 and Credit Interest Revenue $120.

Therefore, the journal entry is as follows:

Accounts Receivable A/c     Dr. $6,120

To Notes Receivables                              $6,000

To Interest Revenue                                 $120

(To record the note)

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a manager's reluctance to delegate, as seen in the video, relates to which of the four management functions?
Misha Larkins [42]

A manager's reluctance to delegate, as seen in the video influencing relates to the management function.

What's delegate in a sentence?

If you delegate duties, obligations, or strength to a person, you deliver them those responsibilities or responsibilities or that strength, in order to act in your behalf. He desires to delegate extra obligations to his employees.

What is an instance of a delegate?

An example of delegate is while you tell a person to get your mail for you. The definition of a delegate is a consultant authorized to speak or act for others. An instance of a delegate is a baby-kisser who speaks on behalf of a group of people. One who acts on behalf of one or greater others in an authentic capability.

How do you delegate personnel?

Each assignment you delegate to a person else should include clear direction and context. allow the employee realize why they may be being assigned the undertaking and the way the project will benefit the general challenge or company. Make time to reply any questions and provide feedback while necessary.

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6 0
1 year ago
A firm knows that Mike’s income elasticity of demand for hair ties is 5 while for Sally it is 0.2. A firm can reason that a hair
bonufazy [111]

Answer:

1) Luxury

2) Necessity

Explanation:

1)The hair tie is a luxury good for Mike because Mike has a income elasticity of 5 which means that if mike's income decreases 1% his demand for the good decreases 5%, which shows that his demand for this good is highly sensitive to his income which is a characteristic of luxury goods, as you only buy luxury goods when your income increases.

2) It is a necessity for Sally because her income elasticity to the good is 0.2 which means every 1% change in income changes her demand by just 0.2%, which shows demand is not very sensitive to income and the quantity she buys them in dont rely much on her income, which is a sign of a necessity, you buy a certain amount of necessities regardless of your income.

6 0
3 years ago
When a firm does not have the resource required for pursuing a growth strategy, and if the resource in question is not easily tr
pychu [463]

Answer:

B. Consider an outright acquisition.

3 0
3 years ago
. Archie can claim total deductible medical expenses that exceed 7.5% of his adjusted gross income. a. True b. False
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The correct answer is; False, as of 2020.

Further Explanation:

In the previous tax years, 2017-2018, this statement would of been correct. Archie could of claimed his total deductible medical expenses that exceeded 7.5% of his AGI. However, the laws changed for 2019 and this is no longer the correct way to claim medical expenses.

For the 2019 taxes, a person can only deduct any expenses that amount to over 10% of the total AGI per person. The deduction can be figured by taking your AGI and multiplying this total by 10%. The deductions will also have to be itemized before claiming.

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3 0
3 years ago
1. A computer game that can be purchased online and played right away has good ___ utility. A) form. B) info. C) value. D) time
gizmo_the_mogwai [7]
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