Assume that on December 1, a note which has a face value of $1,000, bears interest at 6 percent for 90 days, received from a customer as an extension of his of past – due account is honored on due date. The entry that would be made to record the receipt on due date (ignoring interest) is:
a. Notes receivable 1,000
Cash 1,000
b. Accounts receivable 1,000
Cash 1,000
c. Accounts receivable 1,000
Notes receivable 1,000
d. Cash 1,000
Notes receivable 1,000
D
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The best way to address the concerns of all potential audiences when writing the business plan is to rely exclusively on a computer software package.
Answer the following statement true (T) or false (F)
__________ is imposed upon the generator of hazardous waste by the Resource Conservation and Recovery Act
a. Negligence liability and responsibility b. Individual liability and responsibility c. Cradle to grave responsibility d. Joint and several liability
Use Table 8.9 to determine the MAD for period 5 for the department chairman's forecast
A) 2.0 B) 2.8 C) 2.67 D) 2.42
Fager Clinic uses client-visits as its measure of activity. During February, the clinic budgeted for 2,200 client-visits, but its actual level of activity was 2,250 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for February:Data used in budgeting: Fixed element per monthVariable element per client-visitRevenue - $68.20 Personnel expenses$32,300 $21.50Medical supplies 1,200 12.50Occupancy expenses 9,700 3.40Administrative expenses 5,000 0.10Total expenses$48,200 $37.50?Actual results for February: ?Revenue$156,210 Personnel expenses$80,445?Medical supplies$30,105?Occupancy expenses$16,800?Administrative expenses$5,015???The spending variance for medical supplies
in February would be closest to: A. $780 F B. $1,405 U C. $780 U D. $1,405 F