Answer:
Savings, taxes, and imports are "leaked" out of the main flow
Explanation:
False I believe! Hope this was correct for you..
Answer:
business model is not a factor
Explanation:
To determine the answer to this, let us first determine the
interest using the formula:
Interest = Principal amount * Interest rate * Number of
months / 12
September to December would be 4 months, therefore:
Interest = $50,000 * 0.06 * 4/12
Interest = $1,000
Therefore the adjusting entry should be:
debit to Interest Expense of $1,000
