Accounting Assignment | Custom Assignment Help
20. A company lends its supplier $158,000 for 3 years at a 8% annual interest rate. Interest payments are to be made twice a year. Each interest payment will be for:
19.On January 1, a company lends a corporate customer $132,000 at 4% interest. The amount of interest revenue that should be recorded for the quarter ending March 31 equals:
a) Purrfect Pets uses the perpetual inventory system. At the beginning of the quarter, Purrfect Pets has $45,000 in inventory. During the quarter the company purchases $10,150 of new inventory from a vendor, returned $1,450 of inventory to the vendor, and took advantage of discounts from the vendor of $350. At the end of the quarter the balance in inventory is $34,000. What is the cost of goods sold?
a) $21,650
b) $19,350
c) $11,000
d) $21,150
