On october 3, nick carter, a carpenter, received a cash payment for services previously billed to a client. nick paid his telephone bill, and he also bought equipment on credit. for the three transactions, at least one of the entries will include a
a) credit to nick carter, capital.
b) credit to notes payable.
c) debit to accounts receivable.
d) credit to accounts payable.

A$100 million interest rate swap has a remaining life of 10 months. under the terms of the swap, the six-month libor is exchanged semi-annually for 12% per annum. the six-month libor rate in swaps of all maturities is currently 10% per annum with continuous compounding. the six-month libor rate was 9.6% per annum two months ago. what is the current value of the swap to the party paying floating? what is its value to the party paying fixed?