On june 30, 2021, the esquire company sold merchandise to a customer and accepted a noninterest-bearing note in exchange. the note requires payment of $30,000 on march 31, 2022. the fair value of the merchandise exchanged is $28,200. esquire views the financing component of this contract as significant. 1. prepare journal entries to record the sale of merchandise (omit any entry that might be required for the cost of the goods sold), any december 31, 2021 interest accrual, and the march 31, 2022 collection.
2. what is the effective interest rate on the note?

Suppose life expectancy in years (l) is a function of two inputs, health expenditures (h) and nutrition expenditures (n) in hundreds of dollars per year. the production function is upper l equals ch superscript 0.40 baseline upper n superscript 0.60l=ch0.40n0.60. beginning with c = 1, a health input of $400400 per year (hequals=44) and a nutrition input of $400400 per year (nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. the marginal product of health expenditures when h goes from 44 to 55 is nothing, and the marginal product of health when h goes from 66 to 77 is nothing. (round your answers to three decimal places.)