Answer and Explanation:
The journal entry is shown below:
Cash Dr $98,800
Finance charge Dr ($120,000 × 1%) $1,200
To Liability - Financing Arrangement $100,000
(being receipts of cash is recorded)
Here cash and finance charge is debited as it increased the assets and expenses and liability is credited as it also increased the liabilities. Also, the cash & expenses contains normal debit balance and liabilities contains normal credit balance
Answer:
this is the federal banking system of USA
Answer:
The correct answer is letter "A": business cycle fluctuations.
Explanation:
Cyclical unemployment refers to unemployment related to downturns in the economy. It tends to be temporary but the length depends on the level of contraction of the economy during a recession. This type of unemployment is typical of the natural increase and decrease cycle of a nation's growth.
Answer:
Explanation:
Bonds are corporate debt units that are issued by firms inform of financial securities and are traded as tradeable assets. It is basically referred to as a fixed income instrument since bonds conventionally are paid a certain fixed amount of interest rate (coupon) to its respective debtholders.
going by the question Upon issuance, Ozark should
Credit premium on bonds payable $100,000
Because face value of bonds = $10 million but issue price is $10 million * 101 % i.e $ 10100000
So, premium = 10100000 - 10000000 = $ 100000
The answer is C. Direct costs.
Hope this helps
