Grayson Bank agrees to lend the Trust Company $200,000 on January 1. Trust Company signs a $200,000, 5.25%, 1-year note.
The entry made by Trust Company on January 1 to record the borrowing:

a) Interest Expense; 10,500 Cash 189,500; Notes Payable 200,000.
b) Cash 210,500; Notes Payable 210,500.
c) Cash 200,000; Notes Payable 200,000.
d) Notes Payable 200,000; Interest Payable 10,500; Cash 200,000; Interest Expense 10,500.

20. sinclair company's single product has a selling price of $25 per unit. last year the company reported a profit of $20,000 and variable expenses totaling $180,000. the product has a 40% contribution margin ratio. because of competition, sinclair company will be forced in the current year to reduce its selling price by $2 per unit. how many units must be sold in the current year to earn the same profit as was earned last year? a. 15,000 units b. 12,000 units c. 16,500 units d. 12,960 units

What is used by accountant to analyze transactions ?

Jason started last week with $900 in his checking account. during the week, he wrote the checks below. at the end of the week, jason received a paycheck for $534.59. he recorded all of these transactions in his check register. trans typ./ check no. date description of transaction payment/ debit deposit/ credit (+) balance 900 00 241 12/4 miller's food market 53.21 53 21 groceries 846 79 242 12/7 frank's auto parts 24.05 24 05 oil and filter 822 74 243 12/8 mike's barber shop 15.00 15 00 haircut 807 74 deposit 12/9 paycheck 534.59 534 59 1,342 33 evaluate jason's check register. a. jason did a good job; everything is correct. b. the final balance is wrong; jason did not add everything correctly. c. jason should have written debit instead of deposit for the transaction type. d. jason entered the amount for his paycheck in the wrong column.