On December 21, 2016, Alpha Company accepted from Bravo a $10,000, 90-day, 8% note in lieu of an existing $10,000 account receivable. Alpha Company's fiscal year-end is December 31. Use this information to prepare for the Alpha Company the General Journal entries (without explanation) for December 21, 2016.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On December 21, 2016, Alpha Company accepted from Bravo a $10,000, 90-day, 8% note in lieu of an existing $10,000 account receivable. Alpha ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Simkin Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: HoursWait time 20.6Process time 1.9Inspection time 0.1Move time 2.7Queue time 4.
Answers (1)
How much will you need to invest each month over the next 30 years in order to meet your savings goal of $750,000, assuming you average a 7% real rate of return each year?
Answers (1)
If there is a lack of competition in a market, a market failure results because the quantity of goods sold is ___ than the optimal level while prices are ___ than the optimal level. lower; higher higher; lower higher; higher lower; lower
Answers (2)
To what aspect of a business structure does the term sole proprietorship refer? A. size B. management C. ownership D. leadership
Answers (1)
Jim's Widgets creates mechanical tools that are used in factories. Use the table and the drop-down menus to answer these questions. The profit when the company makes five widgets is. To maximize profit, the company should produce widgets per day.
Answers (1)
New Questions in Business
For much of the 1990s, the U. S. economy was experiencing long-run economic growth, low unemployment, and a stable inflation rate. Which of the following would give rise to these outcomes? Choose one: A.
Answers (1)
The Victoria Fund, a child welfare fund, received $50,000 in cash in 2018. The donor requires the gift be held in perpetuity and that the income from investing this money may be used for its program of promoting adoption of young girls.
Answers (1)
The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below: Job Standard Hours Standard Rate Standard Cost Motor tune-up 1.50 $6.20 $9.
Answers (1)
Haberdash inc. last year reported sales of $12 million and an inventory turnover ratio of 3. the company is now adopting a just-in-time inventory system.
Answers (1)
Tara is responsible for the strategic planning retail planning process in her organization. She has identified the strategic opportunities. Which of the following steps is most likely Zara's next stage in the strategic retail planning process? A.
Answers (1)