rag the boxes to match the answers special bank account that earns interest %! money subtracted from your bank %3D balance after adding deposits, interest or subtracting withdrawals a small book or ledger for each customer to which goods sold on credit and the amounts owed and paid are recorded %3D %3D the amount of money earning interest II

Q: Use the journals and ledgers that follow. Total the journals. Post the transactions to the…

A: Accounts receivable represents the amount that has been earned by the company but the customer has…

Q: Simple interest applies when interest is earned _____________. a. on interest b. in a serious of…

A: Interest is the value provided or paid for the sum borrowed. If the company has made certain…

Q: The shorthand notation on an invoice 2/10, n/30 is called the _______________. Group of answer…

A: Credit terms is an agreement between the buyer and seller about the timings and payment to be made…

Q: Explain when EXACTLY you would prefer the previous balance method to the average daily balance…

A: Previous balance sheet method is a way wherein amount of interest is charged on the previous month…

Q: 1. Began operations by acquiring $16,000 of cash from the issue of common stock. 2. Performed…

A: T accounts are prepared by posting the amounts from the journal entries of the company.

Q: Personal Financial Statement Project For the Personal Financial Statement Project: 1. Record the…

A: EventsOpened a bank account with previously earned money: $100,000.Bought a house with a $75,000…

Q: Can someone help me with journal

A: Journals are used to record transactions in accounting books. In making journal entries, atleat two…

Q: In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days…

A: Solution Concept Meaning of term credit terms 1/10, n/30,  It means that if the payment is made…

Q: Use this table for calculations: Minimum Days Maximum days % uncollectible 1 30 1.5% 31 60 3.5% 61…

A: Accounts receivable are the amounts owed by the customers to the firm against goods or services they…

Q: Larkspur, Inc. had the following transactions involving notes payable. July 1, 2022 Borrows $54,000…

A: Journal entries refer to the recording of transaction in an appropriate way. With the help of…

Q: This is the payment method used for setting up automatic monthly payments such as utility bills and…

A: A monthly payment refers to a regular, fixed amount of money that is paid on a monthly basis.

Q: credit

A: Credit card can be defined as a payment card where line of credit is provided to the customers. With…

Q: Sundance Systems has the following transactions during July. July 5 Purchases 32 LCD televisions on…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: When a company earns interest on a note receivable or on a bank account, the debit and credit are as…

A: Note Receivable:-It is a promissory note where the written promise to pay the amount at some future…

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: On January 1, when the market interest rate was 9 percent, Selton Corporation completed a $200,000,…

A: Solution 1: Journal Entries - Selton Corporation         Date Particulars Debit Credit…

Q: Close West, Withdrawals. Date Jun. 30 Clos. (4) Accounts and Explanation Debit Credit

A: In accounting, closing entries are made at the end of an accounting period to transfer the balances…

Q: How to calculate monthly interest and apr

A: Wall unit cost = $2200 Down payment = $800 Monthly payment = $43.50 Period of loan = 48 months

Q: Whispering Winds Corp. uses a periodic inventory system. The company had the following inventory…

A: A periodic inventory system is a method of tracking inventory levels where a business does not…

Q: Clivia Traders, a stationery shop, situated in Sea Point is owned by Daisy Garden. The business is a…

A: We are answering 4.1.1 as it is specifically mentioned to do 4.1.1.

Q: Complete the following journal entry to record the receipt of $8,400 from a client in satisfaction…

A: In this transaction, there are two accounts involved. The first one is the Cash account because the…

Q: please i need help with quickbooks, please tell me in quickbooks where do i supposed to records…

A: Solution: (1) Date Account Dr Cr   Insurance that has been paid in advance $1,200…

Q: Which of the following responses to an accounts receivable confirmation at December 31

A:

Q: The following events occur for Messer Engineering during 2024 and 2025, its first two years of…

A: The company makes sales on cash as well as on the account, the sales on account are made to achieve…

Q: Then, prepare the journal entry assuming the payment is made within 10 days (the discount period).

A: Formula: Net sales = Sales - discount where, Discount = Sales x discount rate

Q: How did you get the discount on Note payable in JE number 2?

A: Truck #2Truck$14,727  Discount on Notes Payable$1,273        Cash $2,000       Notes Payable $14,000…

Q: Directions: Match the descriptions below with the letter to correctly identify it location. ACCOUNT…

A: The T- accounts are prepared as posting the journal entries to their accounts.

Q: Calculate the simple interest note proceeds. calulate the simple discount note proceeds.

A: INTRODUCTION Simple interest note: Note receivable is the bill drawn on customer for the due amount…

Q: How did you calculate the deposits and checks outstanding

A: The deposit which are deposited by  company on last date of month may not be reflected the in bank…

Q: What is the guest ledger? Give an example of something included in it. Describe how you would post a…

A: The conventional 'Guest Ledger' is an 'accrual' mechanism for handling each booking's accounting in…

Q: Explain how to calculate day’s sales in receivable.

A: Average collection period: Average collection period indicates the number of days taken by a…

Q: Question: Prepare the journal entry to replenish the fund. (Credit account titles are automatically…

A: Petty cash means where the separate cash book is maintained which is usually deals with the small…