130ebro12 0editer130ehton ledger14 debtors jourmal15 Sales2. List the steps in the specific process when a business sells the stock on credit to their debtors. (10)QUESTION 2Debtors JournalLerato traders is a business owned by Lerato Smith. The debtors journal was chewed by the owmer'spuppy and must be redone.The business uses 75% mark-up on costRequired: Complete the Debtors Jounal of Lerate Traders for December 2020DOC DAYDETAILSFOLSALESCOST OF SALESR Moroka6.A01R290015N MabaseR6200A0220A03P Khoca24RMaputiaR14875R8500A0426GFergusonA05R1785028A06L ViakazR1645031A07P MilanaR1200R78015R44580I6 Marks

A debtors journal is maintained by a company to keep a record of its debtors or the account…

Answered: QUESTION 2 Debtors Journal terato…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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File Edit View History Bookmarks Window Help 2 DZL Understanding Loans and Simple Interest - 21516 MAT142 Topics In Coll... W DERIVITA Tiana Klughart a) What is the principal of her mortgage? Principal $ Donna wants to buy a house for $900,000.00. She makes a 15% down payment and borrows the rest by getting a 30-year mortgage. Her monthly mortgage payment is $3,803.75. b) What is the total she will pay on the loan? Total $ c) How much interest will she pay over the life of her loan? Total interest $ CHECK ANSWER C #3 E C a d2l.pima.edu D2L 5.2 Understanding Loans and Simple Interest - 21516 MAT142 Topics... $ 4 R 45 % T () > 6 3 MacBook Pro Y & 7 U 8 Question 4 of 15 A DZL Chapter 5.2 - 21516 MAT142 1 9 www BACK Help Question 1 10 Question 2 Question 3 Question 4 Question 5 Question 6 Question 7 Question 8 Question 9 Question 11 Question 12 Question 13 Question 14 Question 15 Question 10 1 Summary 0 NE 0 10 10 1 1 1
Date May 17 May 21 Date May 17 Transaction amount REFLECTING What could Esmé have done to avoid this additional cost? May 21 $187.50 $104.19 Transaction emount $187.50 $104.19 REFLECTING Do all financial institutions charge the same interest rates for loans? Explain. 3. Esmé had three overdraft transactions in May. Each transaction cost $3, plus interest at 19%/yr, compounded daily. Her paycheque was deposited electronically on May 31. It covered all the overdrafts. a) Complete the chart to determine what Esmé paid. Time 15 d - d Time 15 d Total amount A=P(1 + d b) Suppose Esmé had a personal line of credit with interest at 9.5%/yr, compounded daily. Complete the chart. How much interest would she have paid? 1 = $ = $ Total amount A=P(1+1) Interest 1=A-P 1 = $ = $ - $187.50 Interest 1=A-P - $187.50 c) Should Esmé get a personal line of credit? Explain.
Question 12 On August 1, 2020, Alba Trading sold a machine for $13,000 cash with a two-year parts warranty. On March 1, 2021, the machine requires on-site repairs which cost $200 of the repair parts inventory. Alba estimates warranty costs to be 4% of dollar sales. In 2020, Alba reports warranty expense of: O A. $ 720. O B. $ 320. O C. $ 520. O D. $ 200.
9:40 OX ll 25% ebooks.cenreader.com/#!/re 3 ,еТextbook: 'PEIN Quick Print Search Annotations Acce Tour Calculating debt safety ratio. Use Worksheet 7.1. Every six months, Leo Perez takes an inventory of the consumer debts that he has outstanding. His latest tally shows that he still owes $4,000 on a home improvement loan (monthly payments of $125); he is making $85 monthly payments on a personal loan with a remaining balance of $750; he has a $2,000, secured, single-payment loan that's due late next year; he has a $70,000 home mortgage on which he's making $750 monthly payments; he still owes $8,600 on a new car loan (monthly payments of $375); and he has a $960 balance on his MasterCard (minimum payment of $40), a $70 balance on his Shell credit card (balance due in 30 days), and a $1,200 balance on a personal line of credit ($60 monthly payments). Use Worksheet 7.1 to prepare an inventory of Leo's consumer debt. Find his debt safety ratio, given that his take- home pay is $2,500 per…
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Why is the answer 21.3%?
! Required information Problem 11-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $38,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9%, $35,000 note payable along with paying $3,000 in cash. July 8 Borrowed $60,000 cash from NBR Bank by signing a 120-day, 11%, $60,000 note payable. _?____Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 8%, $24,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 _______ Paid the amount due on the note to Fargo Bank at the maturity date. Problem 11-1A (Algo) Part 3 3.…
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