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elena55 [62]
2 years ago
8

Brent called insurance companies and got insurance quotes for the three trucks. Both the 1996 Ford F150 and the 1998 Chevy 1500

were quoted for $250 and the 2000 Toyota Tundra was quoted for $245. To help Brent make his decision gather some more reliable information by using newspapers, or looking at their Web sites, and reviewing consumer magazines and Web sites. Also, look at the manufacturer Web site or www.fueleconomy.gov for information about gas mileage. List the sources you use and include the notes you take from each source.
Business
1 answer:
torisob [31]2 years ago
6 0

Answer:

Website

Annual Reports

Magazines

Newspaper

Television Advertisement

Explanation:

The company website are the reliable source for the information. These websites include information about the specific product details. Brent can easily get access to details about product design, their specification and details. There can be other website which provide reviews of products. Brent can access those website to observe the reviews of the product but since the reliability of these website can be questioned so its better not to trust everything you read.

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On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000. In payment, Esquire agreed to accept a 8%
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Answer:

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30 June                   Accounts  Receivable            $ 66,000

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On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000.

31 Mar                 Note Receivable         $ 66,000

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31 December   Notes Receivable                       $ 66,000

                                Interest Receivable               $ 3960

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                             Interest Revenue                          $ 3960

To record the accrued interest earned. $66,000*8%= $ 5280. As it is for nine months the amount would be $ (5280/12)*9= $ 3960

31 March                  Cash                $ 71,280

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March 31, 2022 collection of Note receivable and interest accrued.                    

2. The income will be understated by an amount of $ 3960 in 2021 if an adjusting entry is not made on Dec 31 of accrual interest.

The adjusting entry on 31st December 2022 of the interest accrual will not be required as interest has been received on March 31st 2022.

The income will be understated by $ 5280 in 2022 if an adjusting entry is not made on Mar 31st 2022 of the interest received.

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Question attached

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