A company factored $49,000 of its accounts receivable and was charged a 2% factoring fee. The journal entry to record this transaction would include a: Multiple Choice Debit to Cash of $49,000, a credit to Factoring Fee Expense of $980, and a credit to Accounts Receivable of $48,020. Debit to Cash of $49,980 and a credit to Accounts Receivable of $49,980. Debit to Cash of $49,000 and a credit to Accounts Receivable of $49,000. Debit to Cash of $49,000 and a credit to Notes Payable of $49,000. Debit to Cash of $48,020, a debit to Factoring Fee Expense of $980, and a credit to Accounts Receivable of $49,000.

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.

When making broccoli cream soup, the broccoli and aromatics should be a. burned. b. simmered. c. puréed. d. sweated.