Case 1: Notes The Holtby Company purchased equipment from the Fleury Company in exchange for a $6,000 notes payable on September 1, 20x1. The note is to paid in 90 days with an interest rate of 10%. Assume a 360-day year. REQUIRED: a) Record the journal entry on September 1, 20x1. b) Record the journal entry at the time of payment (assume the note is paid in full on the appropriate date).

Assume that a local bank sells two services, checking accounts and atm card services. the bank’s only two customers are mr. donethat and ms. beenthere. mr. donethat is willing to pay $8 a month for the bank to service his checking account and $2 a month for unlimited use of his atm card. ms. beenthere is willing to pay only $5 for a checking account, but is willing to pay $9 for unlimited use of her atm card. assume that the bank can provide each of these services at zero marginal cost.refer to scenario 17-5. if the bank is unable to use tying, what is the profit-maximizing price to charge for a checking account