True or False conflicts can be difficult to resolve when people have strong emotions

Upland Company borrowed $40,000 on November 1, 2017, by signing a $40,000, 9%, 3-month note. Prepare Upland’s November 1, 2017,

kodGreya [7K]

Answer:

cash 40,000 debit

note payable 40,000 credit

--to record signing of note----

interest expense 300 debit

interest payable 300 credit

--to record accrued interest----

note payable 40,000 debit

interest payable 300 debit

interest expense 600 debit

cash 40,900 credit

--to record honor of the note---

Explanation:

when signing the note we receive the cash and delcare the liability

at December 31th

we recognzie the accrued interest: for the month

we need to convert the annual rate to monthly: 0.09/12 = 0.0075

40,000 x 0.0075 = 300

at payment of the note, we write-off the note

we pay the full interest:

300 per month x 3 month = 900

we already accrued one so the expense will be for 600

4 0

3 years ago

________is the interest that the bank pays you on the principal plus on the_________ that you earned the preceding year.

Yuliya22 [10]

Answer:

Compound interest; interest.

Explanation:

Compound interest can be defined as the interest that the bank pays you on the principal plus on the interest that you earned the preceding year. Thus, it is simply calculated by adding an interest to the initial principal i.e compounding the interest rather than withdrawal.

Mathematically, compound interest is given by the formula;

$A = P(1 + \frac{r}{n})^{nt}$

Where;

A is the future value.

P is the principal or starting amount.

r is annual interest rate.

n is the number of times the interest is compounded in a year.

t is the number of years for the compound interest.

7 0

2 years ago

Read 2 more answers

In addition to the following closing costs listed below, the buyer pays a realtor commission that is 3.5% of the loan amount. Cl

kobusy [5.1K]

Answer:

d.

$8,097

Explanation:

8 0

3 years ago

__________, a privacy tort, is closely related to defamation and occurs when publicity about a person creates an impression abou

NemiM [27]

Answer:

False Light

Explanation:

Hope this helps :)

5 0

3 years ago

Give an example of a successful or unsuccessful transformational leader. What if anything about the context (e.g., industry, mar

Tanzania [10]

Answer:

Explanation:

One transformational leader that we can talk about was Martin Luther King Jr. who was an Activist and Minister who fought for American Civil Rights in the United States in the early 1950s. MLK jr. was both assisted and hindered by the time in history in which his efforts took place. This is because at the time African American Rights were almost non-existant and the Civil Rights movements were at an all time high. This means that MLK jr. was able to amass many followers as he was fighting to make the world a more equal place for everyone, but at the same time it was a time in history where racism was at an all time high as well. This hindered his efforts greatly and ultimately led to his death in 1968. Regardless, Martin Luther King Jr. made one of the biggest impacts in the Civil Rights movements in history as a transformational leader.

5 0

2 years ago