Framing Art Inc. will need to purchase two new cashier machines in 2 years, at a cost of $148 each. A savings account pays 2% per year compounded quarterly. How much should Framing Art Inc. deposit now in this account to have the cash available in 2 years to pay cash for both machines

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: