At january 1, 2018, transit developments owed first city bank group $600,000, under an 11% note with three years remaining to maturity. due to financial difficulties, transit was unable to pay the previous year’s interest. first city bank group agreed to settle transit’s debt in exchange for land having a fair value of $450,000. transit purchased the land in 2014 for $325,000. required: prepare the journal entry(s) to record the restructuring of the debt by transit developments. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
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Business, 22.06.2019 00:50
Cool beans is a locally owned coffee shop that competes with two large coffee chains, planeteuro and frothies. alicia, the owner, hired two students to count the number of customers that entered each of the coffee shops to estimate what percent of people who are interested in coffee are visiting each shop. after a week, the students found the following results: 589 visited cool beans, 839 visited planeteuro, and 1,290 visited frothies. the students were surprised that cool beans had 139 visits on monday which represented 59% of all people who visited one of the three coffee shops on mondays. how many people visited one of the three coffee shops during the week?
Answers: 2
Business, 22.06.2019 06:00
When an interest-bearing note comes due and is uncollectible, the journal entry includes debitingaccounts receivable and crediting notes receivable and interest revenue.accounts receivable and crediting interest revenue.notes receivable and crediting accounts receivable and interest revenue.notes receivable and crediting accounts receivable.
Answers: 3
Business, 22.06.2019 21:20
Afamily wishes to save for future college expenses. which financial tool should the family invest in?
Answers: 1
At january 1, 2018, transit developments owed first city bank group $600,000, under an 11% note with...
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