On january 1, 2021, jalen company purchased land costing $800,000. instead of paying cash at the time of purchase, jalen plans to make four installment payments of $215,221.64 on june 30 and december 31 in 2021 and 2022. the payments include interest at a rate of 6%. required: record the purchase of land when the note is issued. record the first installment payment on june 30, 2021, and the second installment payment on december 31, 2021.calculate the balance of notes payable and interest expense on december 31, 2021.

Kara was out jogging and, despite being tired, decided to run one more mile. based on her actions, economists would conclude that kara:

Maria am corporation uses the weighted-average method in its process costing system. the baking department is one of the processing departments in its strudel manufacturing facility. in june in the baking department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,150, and the cost added to production was $25,200. required: prepare a cost reconciliation report for the baking department for june.

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.