Camp elim obtains a $125,000, 6%, five-year installment note for a new camp bus on january 1, 2021. the note requires monthly installment payments of $2,416.60 what journal entry will be recorded for the first month’s payment on january 31, 2021?

multiple choice

debit interest expense $1,500; debit notes payable $916.60; credit cash $2,416.60

debit notes payable $625; debit interest expense $1,791.60; credit cash $2,416.60

debit interest expense $625; debit notes payable $1,791.60; credit cash $2,416.60

debit notes payable $1,500; debit interest expense $916.60; credit cash $2,416.60

Kyle and alyssa paid $1,000 and $4,000 in qualifying expenses for their two daughters jane and jill, respectively, to attend the university of california. jane is a sophomore and jill is a freshman. kyle and alyssa's agi is $135,000 and they file a joint return. what is their allowable american opportunity tax credit after the credit phase-out based on agi is taken into account?

Acontractor was awarded a purchase order for commercial items for $1.5 million under the authority of far subpart 13.5. the purchase order was issued in november 2010 and containedall applicable clauses that were current as of the date of the purchase order. under the purchase order, the contractor is required to comply with a small business subcontracting plan that contains all of the required elements. which of the following is true? a. the contractor must submit a standard form 294, subcontracting report for individual contracts. b. the contractor must submit an individual subcontracting report through the electronic subcontracting reporting system (esrs). c. the contractor may submit either an sf 294 or report its subcontracting through esrs. d. the contractor is not required to submit any subcontracting reports.

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