Business, 30.11.2021 23:20 alexagyemang440

Rocky Company borrowed $10,000 on February 1, 20X1. The loan has an annual interest rate of 14%. Rocky Company repaid on the loan between February 1, 20X1 and January 31, 20X2. [Note: The correct adjusting entry with respect to this loan was loan (both principal and interest) on January 31, 20X2 includes a) Debit to Interest Expense for $1,283.
b. Credit to Interest Expense for $1,283.
c. Debit to Interest Expense for $1,167.
d. Credit to Interest Expense for $1,167.
e. Debit to Interest Expense for $1,400.
f. Credit to Interest Expense for $1,400.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 13:30

1. is the act of declaring a drivers license void and terminated when it is determined that the license was issued through error or fraud.

Answers: 2

Answer

Business, 22.06.2019 19:30

Oz makes lion food out of giraffe and gazelle meat. giraffe meat has 18 grams of protein and 36 grams of fat per pound, while gazelle meat has 36 grams of protein and 18 grams of fat per pound. a batch of lion food must contain at least "46,800" grams of protein and 70,200 grams of fat. giraffe meat costs $1/pound and gazelle meat costs $2/pound. how many pounds of each should go into each batch of lion food in order to minimize costs? hint [see example 2.]

Answers: 1

Answer

Business, 23.06.2019 00:00

What is a sales lead? a. an employee on the customer service team who deals with existing customers b. a sales person who works on a residual commission structure c. an expert in maslow's hierarchy of needs d. a potential customer who has shown interest in the company's product

Answers: 1

Answer

Business, 23.06.2019 02:50

Dakota company experienced the following events during 2016. 1. acquired $30,000 cash from the issue of common stock. 2. paid $12,000 cash to purchase land. 3. borrowed $10,000 cash. 4. provided services for $20,000 cash. 5. paid $1,000 cash for utilities expense. 6. paid $15,000 cash for other operating expenses. 7. paid a $2,000 cash dividend to the stockholders. 8. determined that the market value of the land purchased in event 2 is now $12,700

Answers: 1

Answer

You know the right answer?

Rocky Company borrowed $10,000 on February 1, 20X1. The loan has an annual interest rate of 14%. Roc...

Questions