Valley spa purchased $7,800 in plumbing components from tubman co. valley spa signed a 60-day, 10% promissory note for $7,800. if the note is dishonored, but tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (use 360 days a year.) multiple choice debit bad debt expense $7,800; credit notes receivable $7,800. debit accounts receivable—valley spa $7,930, credit interest revenue $130; credit notes receivable $7,800. debit bad debt expense $7,930; credit accounts receivable $7,930. debit accounts receivable $7,930; debit bad debt expense $130; credit notes receivable $8,060. debit accounts receivable—valley spa $7,800; credit notes receivable $7,800.

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

What is overdraft protection (odp)? a.) a cheap and easy way to always avoid overdrawing a bank account b.) a service to automatically transfer available funds from a linked account to cover purchases, prevent returned checks and declined items when you don’t have enough money in your checking account at the time of the transaction. c.) an insurance policy sold by banks to prevent others from withdrawing your money d.) a service provided by the government that insures individuals bank deposits up to $250,000

The treasurer for pittsburgh iron works wishes to use financial futures to hedge her interest rate exposure. she will sell five treasury futures contracts at $139,000 per contract. it is july and the contracts must be closed out in december of this year. long-term interest rates are currently 7.30 percent. if they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. also if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. this expense, of course, will be separate from the futures contracts. a. what will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by december when the contract is closed out