Tamarisk, inc. borrows $67,200 on july 1 from the bank by signing a $67,200, 8%, 1-year note payable. (a) prepare the journal entry to record the proceeds of the note. (credit account titles are automatically indented when amount is entered. do not indent manually.)

journal entry  are given below

Explanation:

given data

borrows = $67,200

rate = 8 %

time = 1 year

to find out

Prepare the journal entry to record the proceeds of the note

solution

journal entry  are as on July 1 and December 31

date                              title                          debit                          credit

July 1                            cash                          67200  

                                   note payable                                               67200

December 31               interest expense        2688

                                     interest payable                                          2688

                                   ( interest = 6700 × 8% × )

i would go with get a bachelor’s degree

hope i

-lavira : )

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.