Selkirk company obtained a $15,000 note receivable from a customer on january 1, 2016. the note, along with interest at 10%, is due on july 1, 2016. on february 28, 2016, selkirk discounted the note at unionville bank. the bank’s discount rate is 12%.
required: prepare the journal entries required on february 28, 2016, to accrue interest and to record the discounting (round all calculations to the nearest dollar) for selkirk. assume that the discounting is accounted for as a sale

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Owns a machine that can produce two specialized products. production time for product tlx is two units per hour and for product mtv is four units per hour. the machine’s capacity is 2,100 hours per year. both products are sold to a single customer who has agreed to buy all of the company’s output up to a maximum of 3,570 units of product tlx and 1,610 units of product mtv. selling prices and variable costs per unit to produce the products follow. product tlx product mtv selling price per unit $ 11.50 $ 6.90 variable costs per unit 3.45 4.14 determine the company's most profitable sales mix and the contribution margin that results from that sales mix.

Nnette henri is paid an hourly wage of $8.90 for a 32-hour workweek of 4 days, 8 hours daily. for any work on the fifth day and on saturdays, she is paid one and one-half times her regular hourly rate. during a certain week, in addition to her regular 32 hours, henri worked 6 hours on the fifth day and 5 hours on saturday. for this workweek, henri’s total earnings are: