subject
Business, 23.04.2020 22:20 bmia7757

Journalize the following transactions in the accounts of Simmons Company:

a. Mar 1 Received a $60,000, 60-day, 6% note dated March 1 from Bynum Company on account.
b. Mar 18 Received a $25,000, 60-day, 9% note dated March 18 from Solo Company on account.
c. Apr. 30 The note dated March 1 from Bynum Company is dishonored, and the customer’s account is charged for the note, including interest.
d. May 17 The note dated March 18 from Solo Company is dishonored, and the customer’s account is charged for the note, including interest.
e. July 29 Cash is received for the amount due on the dishonored note dated March 1 plus interest for 90 days at 8% on the total amount debited to Bynum Company on April 30.
f. Aug. 23 Wrote off against the allowance account the amount charged to Solo Company on May 17 for the dishonored note dated March 18.

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 07:50
In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?
Answers: 2
question
Business, 22.06.2019 07:50
Budget in this final week, you will develop a proposed budget of $150,000 for the first year of the program and complete the final concept paper for the proposed program due for senior management review. the budget should identify the program's anticipated expenses for the year ahead. budget line items should be consistent with the proposed program and staffing plan. using the readings for the week, the south university online library, and the internet, complete the following tasks: create a proposed budget of $150,000 for the first year of the proposed program including the cost for personnel, supplies, education materials, marketing costs, and so on in a microsoft excel spreadsheet. you may transfer your budget to your report. justify the cost for each item of the proposed budget in a budget narrative.
Answers: 2
question
Business, 22.06.2019 11:00
Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is
Answers: 1
question
Business, 22.06.2019 16:10
The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be:
Answers: 1
You know the right answer?
Journalize the following transactions in the accounts of Simmons Company:

a. Mar 1 Recei...
Questions
question
Mathematics, 16.10.2020 09:01
question
Advanced Placement (AP), 16.10.2020 09:01
question
English, 16.10.2020 09:01
question
Mathematics, 16.10.2020 09:01
question
Health, 16.10.2020 09:01
question
Mathematics, 16.10.2020 09:01
question
Mathematics, 16.10.2020 09:01
Questions on the website: 13722362