Answer:
$2955
Explanation:
company's disbursement float is basically the money that the company has written check for but not yet paid from the bank account. In this case it is $640,$975,$1340 and their sum = $2955
The consumer price index (CPI) is a measure of percentage change in the price of a basket of good and services consumed by households.
Another simple definition could be…
consumer price index (CPI) is a measure of the average change in prices over time in a fixed market basket of good and services
Answer:
June 30, 2020 Bond Interest expense Debit $5,756.25
Discount on Bonds payable Credit $506.25
Cash Credit $5,250
Explanation:
We have to calculate the interest expense. The bond interest expense = Cash payment + bond amortization discount
Given,
Bond price = $150,000
Interest = 7%
Number of period, n = 10 years × 2 (As it is a semiannual bond) = 20
Cash payment for semiannual interest = $150,000 × 0.07 × (1÷2)
Cash payment for semiannual interest = $5,250 (Credit)
Amortized bond discount (discount on bonds payable) = $10,125 ÷ 20 (as it is a semiannual payment and $10,125 is for 10 years)
Discount on bonds payable = $506.25 (Credit)
Therefore, bond interest expense = $5,250 + $506.25 = $5,756.25 (Debit)
