On August 15, Year 1, Benet Co. sold goods for which it received a note bearing the market rate of interest on that date. The four-month note was dated July 15, Year 1.

Note that the principal, together with all interest, is due November 15, Year 1.

When the note was recorded on August 15, which of the following accounts increased?

a) Unearned discount.
b) Interest receivable.
c) Prepaid interest.
d) Interest revenue.

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false

Three pounds of material a are required for each unit produced. the company has a policy of maintaining a stock of material a on hand at the end of each quarter equal to 30% of the next quarter's production needs for material a. a total of 35,000 pounds of material a are on hand to start the year. budgeted purchases of material a for the second quarter would be: