ABC Corp. received a 3-month, 8% per year, $1,500 note receivable on December 1. The adjusting entry on December 31 will include a:
A. debit to Interest Receivable of $10.
B. credit to Interest Revenue of $30.
C. credit to Interest Receivable of $20.
D. debit to Interest Revenue of $10.
Answer: A
You might also like to view...
Which of the following questions is NOT useful for evaluating a company's values statement?
A. Does it set standards of excellence and reflect high ideals? B. Does it express the company's distinctiveness, its view of the world? C. Is it tough, serving as the foundation on which difficult company decisions can be made? D. Will it be unchanging, as valid 100 years from now as it is today? E. Would you wish the organization to continue to hold these values, even if at some point they become a competitive disadvantage?
A ________ is a graphical representation of the ratio between product benefits and costs
A) fair value matrix B) value map C) loyalty map D) data mine E) customer relationship map
Bistrone corn canned soup was made expressly for the Japanese market by Coca-Cola Japan. This is an example of ________.
A. backward product adaptation B. hybrid products C. product adaptation D. direct product extension E. product invention
Which of the following best describes horizontal division of markets?
A) The granting of exclusive geographic territory to salespersons B) An agreement under which two companies agree to jointly market related products, such as sport utility vehicles and outdoor sports equipment C) Any action in which a company distributes some products in one geographic area and other products in another geographic area D) An agreement by competitors to serve only a designated portion of the market for their products E) Any action in which a company charges different prices for a product depending on the geographic market