Russia Corporation obtained a $50,000 note receivable from a customer on June 30, 2018. The note, along with interest at 6%, is due on June 30, 2019. On September 30, 2018, Russia discounted the note at Wells Fargo. The bank's discount rate is 10%. What amount of cash did Russia receive from Wells Fargo?

The amount of cash did Russia receive from Wells Fargo is $49,025

Explanation:

* Since the receivable is charged with 6% of the interest rate for one-year, the amount Russia Corporation will receive on June 30th 2019 is: Principal + Interest on the principal = 50,000 + 50,000*6% = $53,000.

* In 30th September 2019, it is 9-month to the maturity of the Receivable valued at $53,000 and the bank charge 10% on the discount, so the cost of discount will be: 53,000 x 10% x 9/12 = $3,975

=> The total cash received by Russia from the Bank = Receivable plus interest on it to be collected on 30 June 2019 - Discount cost = 53,000 - 3,975 = $49,025.  

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know