Explain show work 16. on november 1, alan company signed a 120-day, 8% note payable, with a face value of $9,000. alan made the appropriate year-end accrual. what is the journal entry as of march 1 to record the payment of the note assuming no reversing entry was made? (use 360 days a year.)

a. debit notes payable $9,240; credit interest payable $120; credit interest expense $120; credit cash $9,000.
b. debit notes payable $9,000; debit interest payable $120; credit cash $9,120.
c. debit notes payable $9,000; debit interest expense $240; credit cash $9,240.
d. debit notes payable $9,000; debit interest payable $120; debit interest expense $120; credit cash $9,240.
e. debit cash $9,240; credit notes payable $9,240.

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?

Your family business uses a secret recipe to produce salsa and distributes it through both smaller specialty stores and chain supermarkets. the chain supermarkets have been demanding sizable discounts, but you do not want to drop your prices to the specialty stores. true or false: the robinson-patman act limits your ability to offer discounts to the chain supermarkets while leaving the price high for the smaller stores. true false