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Mumz [18]
2 years ago
12

The wars in Iraq and Afghanistan have __ some sectors of the U.S. economy such as those that manufacture arms, but has __ growth

in others such as tourism.
Business
1 answer:
viktelen [127]2 years ago
5 0

It should be noted that wars in Iraq and Afghanistan have benefited some sectors of the U.S. economy such as those that manufacture arms, but has decreased growth in others such as tourism.

Wars in Iraq and Afghanistan serves as one of the descruction war in Iraq, where many lost their lives, however, US benefited from this because US manufactures ammunition.

Therefore, wars in Iraq and Afghanistan have benefited some sectors of the U.S. economy.

Learn more about war in Iraq at;

brainly.com/question/12420197

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Strickland Company owes $202,900 plus $18,600 of accrued interest to Moran State Bank. The debt is a 10-year, 10% note. During 2
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Answer:

a.                     Strickland Company (Debtor)

Date  Account Title and Calculation                   Debit         Credit

          Notes payable                                          $202,900

          Interest payable                                        $18,600

          Accumulated depreciation (Machine)      $218,689

                    Machine                                                             $397,600

                    Gain on disposition of machine                        $7,080

                     (186,000 + 397,000 - 218,680)

                    Gain on debt restructuring                                 $35,500

                    [(202,900 + 18,600) - 186,000]

                       Moran State Bank (Creditor)

Date  Account Title and Calculation          Debit         Credit

         Machine                                             $186,000

         Allowance for Doubtful accounts     $35,000

                Notes receivable                                           $202,900

                 Interest receivable                                        $18,600

b. Gain on machine disposition and the gain on debt restructuring should be reported as an ordinary gain in the income statement.

c.                      Strickland Company (Debtor)

Date  Account Title and explanation         Debit         Credit

         Notes payable                                   $202,900

         Interest payable                                 $18,600

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                   Additional paid-in-capital                            $74,000

                   Gain on debt restructuring                          $35,500

                       Moran State Bank (Creditor)

Date  Account Title and explanation             Debit         Credit

          Investment Trading                             $186,000

           Allowance for Doubtful accounts      $35,500

                     Notes receivable                                          $202,900

                     Interest receivable                                        $18,600

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