On January 2, 20x5, Clair Inc signed a 9% mortgage payable for $200,000 with equal monthly payments of $2,400. When Clair makes the first payment, how much interest expense will be recorded?
A) $0
B) $1,500.
C) $18,000.
D) $750.
B
You might also like to view...
A company had net cash flows from operations of $138,000, cash flows from financing of $366,000, total cash flows of $554,000, and average total assets of $3,580,000. The cash flow on total assets ratio equals:
A. 24.9%. B. 15.4%. C. 3.9%. D. 4.1%. E. 15.5%.
Which of the following opinions would an auditor make for a company that, he or she feels, has materially misstated certain items on its financial statements?
A) an unqualified opinion B) an adverse opinion C) a qualified opinion D) a disclaimer of opinion
Artificial intelligence simulates human thinking and behavior, such as the ability to reason and learn. What is the ultimate goal of AI?
A. To build a system that can mimic an expert agent. B. To build an intelligent agent. C. To build an intelligent system. D. To build a system that can mimic human intelligence.
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production$65,000Wages paid to the workers who paint the figurines$90,000Wages paid to the sales manager's secretary$22,000Cost of junk mail advertising$47,000 What is the total of the direct costs above?
A. $112,000 B. $202,000 C. $155,000 D. $65,000