Answer:
The required journals to be recorded are as follows:
On January 10:
Debit Accounts receivable $20,900
Credit Sales revenue (credit) $20,900
<em>(To recognize account receivables on merchandise sale)</em>
On February 9:
Debit Notes receivable $20,900
Credit Accounts receivable $20,900
<em>(To reclassify accounts receivable to notes receivable)</em>
On March 9:
Debit Interest receivable $174.17
Credit Interest revenue $174.17
<em>(To record interest on notes receivables [</em>$20,900 x 10%/12]<em>)</em>
Explanation:
- First, on January 10, when Metlock Inc. sold merchandise on account to Monty Co., Metlock has to recognize an accounts receivable because the sales transaction was on account.
- However, since Monty gave a 10% promissory note, Metlock has to record the same by reclassifying the initially recognized accounts receivable to notes receivable, since that is what the company is expecting.
- The 10% on the promissory notes means Metlock would be recognizing the amount in its interest revenue.
Answer:
<h2>In this instance,the correct answer is the first option in the answer choices given or political and economic institutions.</h2>
Explanation:
Porter's model of international competitive advantage thoroughly explains the factors or attributes that contribute to the competitive advantage of any country in the international market of various goods and services which can eventually strengthen the economic position of the country in the global commercial environment.This will subsequently generate economic benefits to any country in various trade and commercial activities in the international market.Now,as proposed by Porter,some of the forces or attributes that can ensure and strengthen a sustainable competitive advantage of any country in the global market include related or supporting industries,which can be used to provide productive resources and factors/inputs of production to facilitate the production of any good and service,factors of production,which refers to the efficient and productive utilization of the factors/inputs of production in the production process by domestic firms or companies,demand conditions,which indicate the overall scenario of consumer or commercial demand for goods and services in the country based on which domestic firms or companies can adjust or modify their respective production level that can potentially determine the overall production of goods and services in the country.However,Porter does not specify the role of major economic and political institutions in promoting or ascertaining international competitive advantage of any country.
Answer:
$169.07
Explanation:
Data provided in the question:
Loan amount = $29,000
Time = 10 years
Interest rate = 7% compounded monthly
Therefore,
Interest rate per period, r = 7% ÷ 12 = 0.583% = 0.00583
number of periods, n = 10 × 12 = 120 months
Now,
Loan amount = Monthly payments × [ { 1 - (1 + r )⁻ⁿ } ÷ r]
on substituting the respective values, we get
$29,000 = Monthly payments × [ { 1 - (1 + 0.00583 )⁻¹²⁰ } ÷ 0.00583]
or
$29,000 = Monthly payments × 171.53
or
Monthly payments = $169.07
Answer: phishing
Explanation:
Phishing is a form of cyber crime that's used in stealing the day of a user such as the login credentials and the credit card numbers of the person.
Phishing typically occurs when an attacker, which often disguises as a trusted entity, dupes his or her victim into opening an email, or text message and collects vital information. The scenario with regards to Dan and Eve is phishing.
Answer:
Account name statement(1) type of account(2)
Accounts payable BS CL
Accounts receivable BS CA
Accruals IS and BS income and SE
Accumulated amortization BS FA
administrative expenses IS E
Buildings BS FA
Cash BS CA
Common shares BS SE
Cost of goods sold IS E
Amortization BS E
Equipment BS F ASSET
General expenses IS E
Intrest expenses IS E
Account name Statement(1) type of account(2)
Inventories BS CA
Land BS FA
long term debts BS CL
Machinery BS FA
marketable securities BS CA
Line of credit BS LTD
operating expense IS E
Preferred shares BS SE
preferred share dividends BS SE
retained earnings BS R
Sales revenue IS R
Selling expense IS E
Taxes IS E
Vehicle BS FA
