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Butoxors [25]
2 years ago
7

On August 1, a $58,800, 9%, 3-year installment note payable is issued by a company. The note requires equal payments of principa

l plus accrued interest of $23,229.22. The entry to record the first payment on July 31 would include:
Business
1 answer:
disa [49]2 years ago
5 0

Based on the information given the entry to record the first payment on July 31 would include: Debit to Interest Expense of $5,292.00.

The appropriate journal entry to record the first payment on July 31 based on the information given is:

Journal entry

July 31

Debit Interest Expense $5,292.00

($58,800×9%)

Debit Notes Payable $17,937.22

($23,229.22-$5,292.00)

Credit Cash $23,229.22

(To record first payment)

Learn more here:brainly.com/question/15907753

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Assume that a machine has a useful life of 9 years, and it loses its real value at a constant rate (i.e. 1/9 of the original val
weeeeeb [17]

Answer:

$52,435.00

Explanation:

After 3 years the future value of 100,000 at 6 percent will be

FV = PV × (1+r)n

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FV = 119, 101.60

The interest will be 119, 101.60 - 100,000

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3 year depreciation = 33,333.33( 11,111.11 x 3)

The investment must generate at least

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7 0
3 years ago
A building that settles unevenly after an earthquake is evidence of _____.
Viefleur [7K]
The Answer Is In Fact "Liquefaction".

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3 years ago
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nlexa [21]

Answer:

Differentiation.

Explanation:

The concept of value for the customer corresponds to the expectation that the product will meet the needs, desires and features that he expects.

The customer's perception of the concept of value is affected in rational and irrational ways, such as brand image, product performance, high price, etc.

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Cheers

3 0
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Which One of the following is true about intraperiod tax allocation?
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