On October 30, Seba Salon, Inc issued a 90-day note with a face amount of $36,000 to Reyes Products, Inc for merchandise inventory. Determine the adjusting entry for Seba on December 31 assuming the note carries an interest rate of 8%
A) Interest Expense 720Interest Payable 720
B) Interest Expense 496Interest Payable 496
C) Interest Receivable 2,880Interest Revenue 2,880
D) Interest Receivable 480Interest Revenue 480
B
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The trait approach is concerned with ______.
A. leadership situations B. leadership skills C. follower attributes D. leader characteristics
On the income statement, Freight-In is:
a. deducted from net sales. b. added to net sales. c. deducted from net purchases. d. added to net purchases.
Hawaii enacts a state law that violates the U.S. Constitution. This law can be enforced by
A. no one. B. the federal government only. C. the state of Hawaii only. D. the United States Supreme Court only.
Leona enters into a contract with Munchie Bakery to cater a sales conference. When the conference is postponed indefinitely, Leona asks a court to cancel the contract. This request involves
A. an equitable remedy. B. an unenforceable demand. C. a remedy at law. D. a type of harm.