On January 1, 2020, Aggie Company purchased a building for $65,000, making a cash down payment of $5,000 and signing a note requiring eight equal semi-annual payments for the balance. Payments are to be made on June 30 and December 31. The implicit interest rate is 6%. 6. What is the amount of each semi-annual payment? A. $ 9,260 B. $ 7,500 C. $ 16,142 D. $ 8,547 E. $ 9,662
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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