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Pachacha [2.7K]
1 year ago
8

Journalize the following transactions of Trapper Jon’s Productions. Assume 360 days in a year. If an amount box does not require

an entry, leave it blank.
June 23 Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.
Sept. 21 The note is dishonored by Radon Express Co.
Oct. 21 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Radon Express Co. on September 21.

June 23
Notes Receivable __________
Accounts Receivable-Radon Express Co. _______

Sept. 21
Accounts Receivable-Radon Express Co. _________
Notes Receivable ________
Interest Revenue _________

Oct. 21
Cash ________
Accounts Recelvable-Radon Express Co. _____
Interest Revenue ________
Business
1 answer:
amid [387]1 year ago
7 0

Answer:

June 23 Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.

  • Dr Notes receivable 48,000
  •     Cr Accounts receivable 48,000

Sept. 21 The note is dishonored by Radon Express Co.

  • Dr Accounts receivable 48,960
  •     Cr Notes receivable 48,000
  •     Cr Interest revenue 960

When a customer defaults on a note, the company is allowed to convert the note back to accounts receivable and charge any accrued interests. Depending on the client, the company can give them more time (by switching back the note into accounts receivable) or the company can write off the note and try to sell it to a collection company.

Oct. 21 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Radon Express Co. on September 21.

  • Dr Cash 49,368
  •     Cr Accounts receivable 48,960
  •     Cr Interest revenue 408
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Answer:

c.Product customization

Explanation:

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In this case, KFC, altered their global formula in order to gain more acceptance in the Japanese market

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Explaining to a borrower the fees that make up the Annual Percentage Rate (APR) of a borrower’s loan is:
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Answer: b. Permissible if the Notary Signing Agent has the breakdown of the fees

Choices are:

“A. prohibited under all circumstances, regardless of the Notary Signing Agent’s level of expertise”

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“C. recommended in order to convince the borrower he or she is getting a fairly priced best loan”

“D. encouraged in order to provide superior customer service to the borrower”

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1 year ago
Suppose that a firm's long-run average total costs of producing custom wooden picnic tables is $300 when it produces 10,000 tabl
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7 0
2 years ago
TH Manufacturers expects to generate cash flows of $129,600 for the next two years. At the end of the two years the business wil
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Answer:

Vo  = <u>C1  </u>    +        <u>C2 + V2</u>

        1 + k              (1 + K)2

Vo = <u>$129,600  </u> +   <u>$129,600 + $3,200,000</u>

        1 + 0.14            (1 + 0.14)2

Vo = $113,684.21  + $2,562,019.08

Vo = $2,675,703.29

The correct answer is C

Explanation:  

The current value of the business equals cashflow in year 1 divided by 1 + K plus the aggregate of cashflow and sales value in year 2 divided by 1 + k raised to power 2.

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1 year ago
When the price of candy bars decreased from $0.55 to $0.45, the quantity demanded changed from 19,000 per day to 21,000 per day.
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Answer:

0.5

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A screenshot is attached to get the full solution

Since the coefficient is < 1, it is inelastic

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2 years ago
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