Below are two related transactions for Golden Corporation. The annual accounting period ends December 31. The books are adjusted only at year-end. October 1, 2014: Golden Corporation borrowed $100,000 and signed a note providing for 8% annual interest. The principal and interest are due in one year on September 30, 2015. December 31, 2014: End of the annual accounting period. What adjusting entry is required on December 31 if the company adjusts its books once a year, on December 31

Abenefit of using a debit or credit card instead of cash is that it provides a paper record of a purchase. looking at the purchases below, which one should be made using a credit or a debit card?

Consumer surplus is: the difference between the price of a product and what consumers were willing to pay for the product. the difference between the discounted price of a product and its retail price. the difference between the price paid by consumers and the price required of producers. the difference between the price of a product and consumers' valuation of the last unit of the product purchased.

The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are: