When you borrow money to pay for goods and services, you are using what form of payment? Savings Credit Cash Bankruptcy

Q: Determine the decision nature of each of the following issues: Will we purchase on credit or will we…

A: Purchase decision can be defined as the thought process that leading a consumer from identifying a…

Q: What are the primary tools, and how are they used by lenders when determining whether they will lend…

A: The five C's of credit is a system used by lenders to gauge the credit worthiness of potential…

Q: if you are unable to pay your credit card bills what can you do?

A: Aside from the amount owed and the specifics of the current month's expenditures, the credit card…

Q: Which of the following is not a current asset? Inventory Trade receivables Building Cash at bank

A: Current Assets- are assets that can be converted into cash within one operating cycle i.e.,  assets…

Q: Is granting credit to customers good? And as a future business owner how would you handle or manage…

A: Explanation to Credit When products are sold to customers on credit and customers agree to pay the…

Q: where would borrowed cash go on transaction worksheet

A: The borrowed cash is the amount of cash received by the entity through many ways - like from banks,…

Q: 1. This is a credit card fee that you have to pay when you withdraw money from the card at an ATM?…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Show how to calculate cash payments for selling and administrative expenses, and cash payments for…

A: The cash payment against an expense refers to the payment made during the accounting period for that…

Q: Liabilities of saving institutions include: checkable deposits, NOW accounts, and regular savings…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: Debit is the normal balance of O loans payable O capital O prepaid rent O unearned revenue The…

A: Solution: Debit is the normal balance of "prepaid rent". Hence third option is correct.

Q: Which of these options for saving money offers the most liquidity? O A. A savings bond O B. A money…

A: A bond is simply a loan taken out by a company. Instead of going to a bank, the company gets the…

Q: Describe how the time value of money impacts the terms of a business loan. Explain how the time…

A: The time value of the  money states that an amount of money is worth more now than it will be in the…

Q: ing source of finance allows the holders to withdraw more than their balance ? a. Commercial Paper…

A: Financial instruments are instruments that have some monetary value and are created due to the…

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: When a customer is delinquent on paying a notes receivable, your company has the option to continue…

A: Here in the questions, there are multiple sub-parts so we are doing the first three sub-parts  If…

Q: Identify the correct classification of each of the accounts listed. Put a check mark in the…

A: Assets means the resources which is owned by business. Liability means the amount which is to be…

Q: Prepare a service blueprint for each of these banking transactions: Make a savings deposit using a…

A: Preparation of blue print for the following banking transactions are as follows: a) Making a service…

Q: additional loan from bank should it be included in cash at hand/cash on bank

A: The company maintain certain amount of the cash for working capital management and smooth operations…

Q: Debit Cash Credit Other Financing Sources What does this journal entry mean?

A: The meanings  of different journal entries are presented hereunder :

Q: secure means of storing money in which individuals or business can deposit or withdraw money as…

A: The financial institute is an institute that deals in all types of financial services and with…

Q: ich of the following is a responsible financial decision? Making a down payment on a loan. O…

A: Responsible financial decisions involves taking planned and wise decisions to avoid any financial…

Q: You pay your business phone bill paying cash. How would you record this transaction? * O Debit Bank,…

A: A business phone bill is an expense account. Expense accounts have a nominal debit balance. When the…

Q: What types of conveniences should you look for in a savings account?

A: Saving Account: A savings account is a basic type of bank account that permits you to deposit cash,…

Q: Why do companies offer a cash discount?

A:

Q: a. The borrower's history of paying bills. b. The assets a borrower owns and can sell to pay off a…

A: in this you have to match right option to right meaning of option

Q: How transactions between suppliers and users of funds take place. How would you prove that there was…

A: Financial markets are marketplaces where fund suppliers and fund demanders can do business.…

Q: Over/Under: Alpha's bookkeeper made a mistake by erroneously recording a loan from Beta Bank as a…

A: Every transaction has dual effect on the accounting equation. Total Assets = Total liabilities +…

Q: If a credit is money coming to you, why is it called a credit card when money is removed from your…

A: Under the financial accounting, each account with some balance will either have debit balance or…

Q: Why does a bank credit a customer's account when the customer makes a deposit and debit the account…

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: A" borrowed money from bank; this transaction involves which one of the * ?following accounts Cash &…

A: Solution: Borrowing money represents cash has been taken for a loan. It involves cash inflow and…

Q: PRINCIPAL is money paid to you by the bank for letting them use your money. Your answer: O Yes O No

A: A bank is a financial institution made to receive deposits and make loans.

Q: What is a credit score? O The number of credit cards a person has. O The number of years a person…

A: Credit score is a 3 digit number ranging from 300 to 900 representing the creditworthiness of the…

Q: business cash consist of many things. Identify which one of the following will be considered as…

A: Credit card is considered as a cash Equivalent....

Q: Complete the following table by providing the missing information: Transaction: Possible source…

A: Cash Memo:-It is the document prepared in the business when buyers and sellers do transactions in…

Q: For the following transactions, show which Balance Sheet line items will be affected and if the…

A: Balance sheet:- Balance sheet is referred as the financial statement which helps to determine the…

Q: When a depositor can take out more than the amount of funds, he/she has within an account is known…

A: Solution:- Taking out more funds means withdrawing more funds than the actual balance in the bank…

Q: Does a cash purchase for dental equipment go under cash and notes payable?

A: The transactions of the business effect two or more accounts. The journal entries are prepared to…

Q: What kinds  of fees and penalties can be levied on savings accounts?

A: Bank: It is a financial institution that accept deposits from and provide loan to public. This…

Q: Which of the following is used generally for raising cash for settling the creditors? a. Line of…

A: Business required many loans and credit available to them from banks.

Q: Differentiate savings account from a current or checking account.

A: A bank is an institution that deals with money and credit. It accepts deposits from the public,…

Q: Which of the following is not an example of a cash outflow?   Select one: a. Purchase of…

A: Cash outflow: It can be defined as the disbursement or payment in cash for meeting the expenditures…

Q: what happen to the account if the owner pay trade payable using own personal bank?

A:

Q: Receive cash from customers in settement of debts owed by them

A: Receive cash from customers in settement of debts owed by them.  Required  Journal Entry.