The journal entry for the purchase of inventory on account using the periodic inventory system is Date Accounts and Explanation Debit Credit A. Accounts Payable xxx Merchandise Inventory xxx B. Purchases xxx Accounts Payable xxx C. Merchandise Inventory xxx Accounts Payable xxx D. Purchases xxx Accounts Receivable xxx

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning

Select the word from the list that best fits the definition sometimes

Amanda rice has just arranged to purchase a $640,000 vacation home in the bahamas with a 20 percent down payment. the mortgage has a 7 percent apr compounded monthly and calls for equal monthly payments over the next 30 years. her first payment will be due one month from now. however, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of year 8. there were no other transaction costs or finance charges. how much will amanda’s balloon payment be in eight years