Answer: D
Explanation:
We are given a comparison between 'economic growth' and 'growth energy consumption' and told that the first increased and the second did not. We are also told that a certain amount of oil is being saved by energy improvements. As it is difficult to infer a likely answer in 'must or could be true' type questions, we'll go over all of the options, the Alternative approach.
A. We have no information on the relative ease of finding new sources of oil. No
B. We have no information on how to reduce oil imports. No
C. We have no information on what caused energy consumption to remain steady. No
D. This is exactly what happened so is true. This is almost certainly our answer, let's go over (Correct )
E. We have no information on the link between development of energy sources and growth. No
(D) is our answer; note that all other answers explicitly added information not in the original passage. This is what you need to watch out for in these types of questions.
Answer and Explanation:
The journal entry is shown below
Cash $46,620
To Notes Receivable $44,400
To Interest receivable ($44,400 × 15% × 120 days ÷ 360 days)
(Being the cash received is recorded)
Here we debited the cash as it increased the assets and at the same time we credited the interest receivable and the note receivable as it decreased the assets
The same is to be considered
