Straight Industries purchased a large piece of equipment from Curvy Company on January 1, 2019. Straight Industries signed a note, agreeing to pay Curvy Company $330,000 for the equipment on December 31, 2021. The market rate of interest for similar notes was 9%. The present value of $330,000 discounted at 9% for five years was $214,477. On January 1, 2019, Straight Industries recorded the purchase with a debit to equipment for $214,477 and a credit to notes payable for $214,477. On December 31, 2019, Straight recorded an adjusting entry to account for interest that had accrued on the note. Assuming no adjusting entries have been made during the year, the interest expense accrued at December 31, 2019 is closest to: Multiple Choice $25,193. $29,700. $19,303. $27,393.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

The correct answer is step.

Answerthe above is a correct answer; ///( true)