1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
34kurt
3 years ago
5

Valley Spa purchased $11,700 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 14% promissory note for $11,700.

If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.)
Business
1 answer:
Charra [1.4K]3 years ago
6 0

Answer:

Given that,

Value of promissory note = $11,700

Time period = 60 days

Interest rate = 14%

Interest revenue:

= Note value × Interest rate × Time period

= $11,700 × 0.14 × (60/360)

= $273

Therefore, the journal entry is as follows:

Accounts receivable A/c Dr. $11,973

          To Interest revenue                  $273

          To Notes receivable                 $11,700

(To record the dishonored note)

You might be interested in
For each market listed below, determine whether it is best characterized as a Cournot oligopoly, Stackelberg oligopoly, or Bertr
Semenov [28]

Answer: A. Cournot Oligopoly B. Stackelberg Oligopoly C. Bertrand Oligopoly

Explanation:

Cournot Model: In Cournot model, firms produce output independently and then set their prices. In this type of model, the products are typically standardized.

Stackelberg Model: In Stackelberg model, there is one firm who is quite dominant and that firm sets the price. Whereas, other firms or the competing lower firms usually follow the price leader.

Bertrand Model: In this model, firms have interaction with buyers in order to set prices and quantities.

3 0
2 years ago
How are SAE programs expanded and/or diversified?
harkovskaia [24]

Answer:

The SAE programs could be extended even diversified using the following techniques.  

Explanation:

  • Increased self-employment has led to something like the SAE programs.  
  • Rather than growing the breadth of this. The concept seems to be the volume, gross margin, quantity of acres, respectively.  
  • By introducing or growing new goods as well as companies. This would be referred to those as diversification.  
  • Whilst also connecting to the awareness acquired via the SAE programs.
8 0
2 years ago
. Find the accumulated present value of a continuous income stream that earns 4.2% interest annually, when $4000 is deposited pe
Mars2501 [29]

Answer:

The accumulated present value is $67,518.99.

Explanation:

Investment opportunities that require a series of payments of a fixed amount for a specific number of periods are known as annuities.

The Present Value of this annuity can be calculated as :

Fv = $0

n = 30

r = 4.2 %

Pmt = - $4,000

P/ yr = 1

Pv = ?

Using a financial calculator, the  Present Value (PV) of the annuity is $67,518.9948 or $67,518.99.

4 0
3 years ago
Marc and Michelle are married and earned salaries this year of $71,600 and $14,850, respectively. In addition to their salaries,
kompoz [17]

Answer and Explanation:

Adjusted gross income abbreviated AGI is the tax payers gross income minus deductions used in arriving at taxable income(AGI less allowable deductions)

Please find attached calculations for gross income and AGI for the couple

8 0
3 years ago
Which of the following is not an input to the aggregate planning process? A. demand forecast B. cost information C. policies on
ale4655 [162]

Answer:

The correct answer is E. master production schedules.

Explanation:

Master production schedules is not an input to the aggregate planning process  all other options are its input,

Aggregate planning process is an attempt to respond to predicted demand within the constraints set by product, process and location decisions.

Hence, master production schedules is not a relevant input for this planning process but can be a result of the aggregate planning process. In other words master production schedule is formed after aggregated planning has been completed.

6 0
2 years ago
Read 2 more answers
Other questions:
  • According to OSHA standards, a competent person is defined as one who is capable of identifying existing and predictable hazards
    13·1 answer
  • A new product made from recycled bio-plastics needs 17 labor hours to complete the build for the first unit.
    12·1 answer
  • Voyager Corporation has developed the following cost formula for its maintenance cost: Y = $300 + $2X, where X = the number of d
    7·1 answer
  • Suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon.Sele
    13·1 answer
  • Write the features of correspondence?​
    12·1 answer
  • Sally Eason put $4,000 in her deductible IRA this year. If Sally is in the 25 percent marginal tax bracket, the government actua
    5·1 answer
  • Reunion BBQ has $4,000,000 of notes payable due on March 11, 2017, which Reunion intends to refinance. On January 5, 2017, Reuni
    7·1 answer
  • One who assumes all risks for the business and whose personal assets can be taken to pay creditors is called a(n)
    12·1 answer
  • How did Joe Biden get president?<br> ⇔∈∉∧⊇←²³√∛·×÷±≈≠≥≤≡≅⇒,㏒
    7·1 answer
  • Ugar is a manager who likes change. When people become complacent, he tries to shake things up to reenergize them. How does Ugar
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!