On December 1, Milton Company borrowed $400,000, at 6% annual interest, from the Tennessee National Bank. Interest is paid when the loan matures one year from the issue date. What is the adjusting entry for accruing interest that Milton would need to make on December 31, the calendar year-end? Multiple Choice debit Interest Expense, $4,000; credit Interest Payable, $4,000. debit Interest Expense, $2,000; credit Interest Payable, $2,000. debit Interest Payable, $2,000; credit Interest Expense, $2,000. debit Interest Expense, $24,000; credit Interest Payable, $24,000. debit Interest Expense, $2,000; credit Cash, $2,000.
Answers: 2
Business, 21.06.2019 22:20, trea56
Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?
Answers: 1
Business, 22.06.2019 11:40, nelly88
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Answers: 2
Business, 22.06.2019 19:10, jaylene125
Robin hood has hired you as his new strategic consultant to him successfully transform his social change enterprise. robin has told you that he counting on your strategic management knowledge to him and his merrymen achieve their goals. discuss in detail what you think should be robin’s two primary strategic goals and continue by also explaining your analytical reasons that support your recommendations.
Answers: 3
On December 1, Milton Company borrowed $400,000, at 6% annual interest, from the Tennessee National...
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