On March 1, 2012, Bayonne Services made a loan to one of its officers. The officer signed a 6-month note for $4,000 at 8%. Please provide the journal entry needed by Bayonne to record the note.
Definitions:
Required Rate Of Return
The minimum annual percentage return an investor expects to achieve by investing in a particular asset.
Internal Rate Of Return
A metric used in capital budgeting to estimate the profitability of potential investments, calculated as the discount rate that makes the net present value of all cash flows from a particular project equal to zero.
Required Discount Rate
The minimum expected rate of return on an investment, used in the discounting process of present value calculations.
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