Travis County Bank agrees to lend Brickyard Corporation $200,000 on January 1. Brickyard signs a $200,000, 4%, 9-month note. Interest is due at maturity on September 30. The company's fiscal year ends June 30 and adjusting entries are recorded at that time only.What journal entry will Brickyard make when paying the interest at maturity?
A. Debit Interest Expense for $4,000, and credit Cash for $4,000.
B. Debit Interest Expense for $6,000 and Cash for $206,000.
C. Debit Interest Payable for $4,000, debit Interest Expense for $2,000, and credit Cash for $6,000.
D. Debit Notes Payable and credit Cash for $206,000.
Answer: C
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Answer the following statement true (T) or false (F)
The competitive threat that outsiders will enter a market is weaker when
A. the pool of entry candidates is large and some have resources that would make them formidable market contenders. B. newcomers can be expected to earn attractive profits. C. buyers have little loyalty to the brands and product offerings of existing industry members. D. the industry's market growth is rapid. E. financially strong industry members send strong signals that they will launch strategic initiatives to combat the entry of newcomers.
Collin gets a shopping list from his wife. On the list are a potted plant, fresh salmon, vitamins, bread, milk, and a birthday cake. To make just one stop to save time, Collin should go to a(n)
A. convenience store. B. category killer. C. specialty store. D. specialty retailer. E. supermarket.
Which of the following questions does not create answers that would form the basis for a propagation brief?
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