During January 2021, the following transactions occur:

January 2 Sold gift cards totaling $10,800. The cards are redeemable for merchandise within one year of the purchase date.
January 6 Purchase additional inventory on account, $161,000.
January 15 Firework sales for the first half of the month total $149,000. All of these sales are on account. The cost of the units sold is $80,800.
January 23 Receive $126,800 from customers on accounts receivable.
January 25 Pay $104,000 to inventory suppliers on accounts payable.
January 28 Write off accounts receivable as uncollectible, $6,200.
January 30 Firework sales for the second half of the month total $157,000. Sales include $15,000 for cash and $142,000 on account. The cost of the units sold is $86,500.
January 31 Pay cash for monthly salaries, $53,400.
6. Record closing entries

Neveready flashlights inc. needs $317,000 to take a cash discount of 3/15, net 70. a banker will loan the money for 55 days at an interest cost of $13,200. a. what is the effective rate on the bank loan? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) b. how much would it cost (in percentage terms) if the firm did not take the cash discount but paid the bill in 70 days instead of 15 days? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) c. should the firm borrow the money to take the discount? no yes d. if the banker requires a 20 percent compensating balance, how much must the firm borrow to end up with the $317,000? e-1. what would be the effective interest rate in part d if the interest charge for 55 days were $7,200?

Explain how can you avoid conflict by adjusting

12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill.