Prepare journal entries to record the following merchandising transactions of cabela’s, which uses the perpetual inventory system and the gross method. (hint: it will to identify each receivable and payable; for example, record the purchase on july 1 in accounts payable—boden.)

july 1 purchased merchandise from boden company for $6,600 under credit terms of 2/15, n/30, fob shipping point, invoice dated july 1.

2 sold merchandise to creek co. for $900 under credit terms of 2/10, n/60, fob shipping point, invoice dated july 2. the merchandise had cost $550.

3 paid $140 cash for freight charges on the purchase of july 1.

8 sold merchandise that had cost $1,900 for $2,300 cash.

According to the map, which continent has the most countries with a low gdp level? which two countries have the highest gdp level?

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances