Clem Company issued $930,000, 10-year, 4 percent bonds on January 1, 2012. The bonds sold for $855,000. Interest is payable annually on December 31. Using effective-interest amortization, prepare journal entries to record (a) the bond issuance on January 1, 2012, and (b) the payment of interest on December 31, 2012. The market interest rate on the bonds is 5 percent. a) Record the issuance of bonds with a face value of $930,000 for $855,000.

b) Record the interest payment on December 31, 2012

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

As the inventor of hypertension medication, onesure pharmaceuticals (osp) inc. was able to reap the benefits of economies of scale due to a large consumer demand for the drug. even when competitors later developed similar drugs after the expiry of osp's patents, regular users did not want to switch because they were concerned about possible side effects. which of the following benefits does this scenario best illustrate? a. first-mover advantages b. social benefits c. network externalities d. fringe benefits

When the benefit of one particular use of a resource is greater than the opportunity cost, then that resource is which of the following? a. not scarce b. being used efficiently c. a normal good d. non-excludable