Business, 28.06.2020 02:01 gage1963

On July 9, Mifflin Company receives an $7,400, 90-day, 10% note from customer Payton Summers as payment on account. What entry should be made on the maturity date assuming the maker pays in full, and no adjusting entries have been made related to the note

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Answer from: neekWYB

Answer and Explanation:

The journal entry is shown below:

On July 9

Cash Dr $7,585

To Interest revenue $185

To Notes receivable $7,400

(Being the entry recorded on maturity date is recorded)

For recording this we debited the cash as it increased the assets and credited the interest revenue and notes receivable as it increased the revenue and decreased the assets

The interest revenue is

= Amount × rate of interest × number of days ÷ total number of days in a year

= $7,400 × 10% × 90 days ÷ 360 days

= $185

Answer from: Quest

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

Answer from: Quest

Via: "if you are found to be supplying or dealing drugs, the punishment is likely to be tough. supplying drugs doesn’t just apply to dealers. if police suspect that you intend to share drugs with your friends, this is still considered to be supplying.

being suspected of supplying drugs means you are much more likely to be charged. the amount of drugs found on you, and whether you have a criminal record, will be taken into account when a punishment is being decided.

decisions to prosecute are taken by the public prosecution service. the maximum sentences for intent to supply drugs are:

- up to life in prison or an unlimited fine (or both) for a class a drug- up to 14 years in prison or an unlimited fine (or both) for a class b or class c drug."sorry if this was a school question, you didnt supply options so i assumed it was a personal question, which if it is, reconsider selling or having possesion of any drugs at all. i wish you the best!

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On July 9, Mifflin Company receives an $7,400, 90-day, 10% note from customer Payton Summers as paym...

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