Accompanying a bank statement for borden company is a credit memo for $21,200 representing the principal ($20,000) and interest ($1,200) on a note that had been collected by the bank. the company had been notified by the bank at the time of the collection but had made no entries. journalize the entry that should be made by the company to bring the accounting records up to date. refer to the chart of accounts for exact wording of account titles.

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Which of the following best describes the advantage of living in a suburban area? a. suburbs give people access to city jobs along with more living space. b. suburbs give people easy access to cultural attractions and high-paying jobs. c. suburbs have the widest availability of low-cost housing of any living area. d. suburbs have the lowest population density of any living area.

Who owns a renter-occupied apartment? a. the government b. a landlord c. the resident d. a cooperative