Selkirk company obtained a $15,000 note receivable from a customer on january 1, 2016. the note, along with interest at 10%, is due on july 1, 2016. on february 28, 2016, selkirk discounted the note at unionville bank. the bank’s discount rate is 12%.
required: prepare the journal entries required on february 28, 2016, to accrue interest and to record the discounting (round all calculations to the nearest dollar) for selkirk. assume that the discounting is accounted for as a sale

When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.

Dan wants to start a supermarket in his hometown, and wants to get into the business only after finding out about the market and how successful his business might be. the best way for dan to gain knowledge is to: