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Marina86 [1]
1 year ago
6

On December 1, 2021, Liang Chemical provides services to a customer for $90,000. In payment for the services, the customer signs

a three-year, 10% note. The face amount is due at the end of the third year, while annual interest is due each December 1. Required: Record the acceptance of the note on December 1, 2021. Record the interest collected on December 1 for 2022 and 2023, and the adjustment for interest revenue on December 31 for 2021, 2022, and 2023. Record the cash collection on December 1, 2024.
Business
1 answer:
Rufina [12.5K]1 year ago
8 0

Answer

Dec 1 2021                        Debit                           Credit

Note Receivable              90,000

Service Revenue                                                   90,000

Dec 1 2022

Cash                                  9,000

Interest Revenue                                                  9,000

Dec 1 2023                  

Cash                                9,000

Interest Revenue                                                  9,000

Dec 1 2024              

Cash                               99,000

Interest Revenue                                                  9,000

Note Receivable                                                   90,000

Dec 31 2021

Interest Receivable     750

Interest Revenue                                                        750

Dec 31 2022

Interest Receivable     750

Interest Revenue                                                        750

Dec 31 2023

Interest Receivable     750

Interest Revenue                                                        750

Explanation:

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Therefore, we have:

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8 0
2 years ago
The Carbondale Hospital is considering the purchase of ambulance. The TheXarbondale Hospital is considering the purchase of ambu
babunello [35]

Answer:

Explanation:

A) using 2-year moving average :

Year 6 : (3800 + 3700) = 7500 / 2 = 3750

2) Mean absolute deviation based on the forecast above :

(3000 + 4000) = 7000/2 = 3500

(4000 + 3400) = 7400/2 = 3700

(3400 + 3800) = 7200/2 = 3600

3000

4000

3400 __3500__100

3800__3700__100

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Mean absolute deviation = (100 + 100 + 100) /3 = 300/3 = 100

C) weight of 0.4 and 0.6

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(0.4*4000 + 0.6*3400) = 3640

(0.4*3400 + 0.6*3800) = 3640

3000

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5 0
2 years ago
Keidis Industries will pay a dividend of $3.55, $4.65, and $5.85 per share for each of the next three years, respectively. In fo
german

Answer:

price = $47.82

Explanation:

Find the present value of each dividend at the required rate of return and sum them up to get the current price;

PV = FV /(1+r)^n

PV(D1) = 3.55/ (1.099^1) = 3.2302

PV(D2) = 4.65/ (1.099^2) = 3.8500

PV(D3) = 5.85 / (1.099^3) = 4.4072

PV(Price at t=4) = 53 / (1.099^4) = 36.3316

Price = 3.2302+2.9392+4.4072+36.3316

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2 years ago
According to John Kotter, which of the following actions will adversely influence refreezing efforts?A) the absence of a visionB
dedylja [7]

Answer:

D) declaring victory too soon

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John Kotter in this theory of leadership explains the concept and importance of change. He basically believes that the company shall be currently functional.

By the term currently functional he means that the company shall be updated and working on with the current market trend. This means the company shall not be resistant to change and that the management shall take a note of it.

Further in the moving scenario there is no freezing point - the company shall constantly work on the new things which it can improve and excel.

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6 0
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This table shows the CTSOs that four high school students are involved in: A 2-column table with 4 rows. Column 1 is labeled Stu
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4 0
2 years ago
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