Nate wants to buy a used truck. He took out a loan for $11,111 with his credit union, at 6.55% interest, for 4.5 years. What is the amount of interest on Nate's loan? (Round to the nearest cent)
$3,274.97
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On January 1, 2019, Ennis Company purchased a patent for $200,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. The patent has no residual value. Journalize the amortization expense for 2019. Assume straight-line amortization. Omit explanation.
What will be an ideal response?
A company is preparing completing their Cash Budget. The following data has been prepared for Cash Receipts and payments. January February March Cash Receipts $1,061,200 $1,182,400 $1,091,700 Cash Payments $984,500 $1,210,000 $1,075,000 The company's cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000. What is the amount of excess cash or deficiency of
cash (after considering the minimum cash balance required) for March? A) $214,200 excess B) $15,800 excess C) $60,000 deficiency D) $25,300 excess
A new partner contributes accounts receivable to a partnership which appear in the ledger of his sole proprietorship at $ 20,500 and there was an allowance for doubtful accounts of $ 750. If $600 of the accounts receivables are completely worthless, the partnership accounts receivable should be debited for $19,900
Indicate whether the statement is true or false
Theme parks cleverly design their waiting areas to do which of the following?
a. Make the wait look as long as it is so they aren't disappointed b. Find ways to give the customers the impression of constant progress c. Keep the waiting area distraction free so people keep moving in line d. Post clocks everywhere so people know how long they have been in line e. Offer customers additional services while they wait