Flush Mate Co. wholesales bathroom fixtures. During the current fiscal year, Flush Mate Co. received the following notes: Date Face Amount Interest Rate Term 1. Mar. 6 $82,000 6% 45 days 2. Apr. 23 28,900 10 60 days 3. July 20 41,400 7 120 days 4. Sept. 6 49,700 7 90 days 5. Nov. 29 26,300 5 60 days 6. Dec. 30 72,000 6 30 days Required: 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. Assume a 360-day year when calculating interest. Round each interest computation to the whole dollar. 2. Journalize the entry to record the dishonor of Note (3) on its due date\.\* 3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31\.\* 4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January\.\* *Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Assume a 360-day year when calculating interest. Round your answers to the nearest whole dollar.

Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."

What happens when a bank is required to hold more money in reserve?

Witch is an example of a non durable good?