Answer:
Office Equipment (Debit) 96,000
Accounts Payable (Credit) 96,000
Explanation:
Buffalo Corporation should have made the above stated entry. As the equipment is supposed to start depreciation from the date of purchase (when the asset is available for use as intended by management). Since the corporation intended to take the discount by paying early within the number of days allowed so upon payment the following entry should be made.
Accounts Payable (Debit) 96,000
Purchase Discount Income (Credit) 9,600
Cash (Credit) 86,400
Answer:
C
Explanation:
you don't want to do A or b so with that it can't be D
Answer:
capital
Explanation:
The capital assets are all those belongnings of the company that help creating revenue.
The annual percentage rate is 11.19%.
Annual percentage rate is the yearly interest generated on the loan granted to borrowers or paid to investors.
.
- The formulae for APR is (Maturity Value / Net Proceed - 1) * (365 / Period of Note).,
<u>Given data</u>
Net Proceed = $63,159.72
Maturity Value = $68,000
Period of Note = 250 days
APR = ($68,000 / $63,159.72 - 1) * (365 / 250)
APR = 0.076636 * 1.46
APR = 0.1119
APR = 11.19%
Therefore, the annual percentage rate is 11.19%.
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