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Question - On October 1, 2011, Milan Enterprises borrows $300,000 cash from a bank by signing a three-year installment note bearing 10% interest. The note requires equal total payments each year on September 30.
Required -
1. Compute the total amount of each installment payment.
2. Complete an amortization table for this installment note. Prepare the journal entries to record (a) accrued interest as of December 31, 2011 (the end of its annual reporting period) and (b) the first annual payment on the note.
Analyze the following scenario: Meals for the Homeless buys 30,000 large cans of green beans each year. How many cans should be ordered at a time
Earned but unbilled (and unrecorded) consulting fees are recorded with a debit to Unearned Consulting Fees and a credit to Consulting Fees Earned.
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Metro Telcom Systems develops, sells, and installs computer systems. The company has divided its customer base into five regions, and it has 15 representatives who sell and install the com- pany's systems.
Fixed costs are allocated on the basis of practical capacity. What budgeted amounts will be allocated to each manufacturing department?
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Suppose Southman.com sells 5000 books on account for $15 each (cost of these books is $30,000), Journalize Just for Children's Octorber 2015 transactions
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bell company a manufacturer of audio systems started its production in october 2012. for the preceding 3 years bell had
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