Assume That Part of Accounts and Other Receivables on Kittson

question 18

Essay

Assume that part of accounts and other receivables on Kittson Company's February 2,2010,balance sheet is comprised of $4,322,500 of notes receivable.Two notes make up the amount.The first note has a face value of $3,000,000 and bears interest at 7 percent for 90 days.The second note has a face value of $1,322,500 and bears interest at 9 percent for 120 days.Record the journal entry for the collection of the 7 percent note on May 3 and the dishonor of the 9 percent note on June 2.(Omit explanations; assume no interest had been accrued.)Round amounts to nearest dollar.

Identify components and techniques that are typically not part of reality therapy.

Recognize the nature of the therapeutic relationship in reality therapy.

Understand the essential process of change in reality therapy.

Appreciate the outcomes and efficacy of paradoxical interventions based on meta-analytic reviews.

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Definitions:

Sustainable Growth Rate

The maximum rate at which a company can grow its sales, earnings, and dividends without increasing its equity and by using internally generated funds.

Long-Term

Referring to a time period that extends beyond one year, often used in the context of investments, loans, or strategic planning.

Intermediate

A middle stage or level between basic and advanced.

Short

In finance, taking a position in which you sell a security you do not own, with the intention of buying it back at a lower price.