Accounts Receivable Assigned Prepare Journal Entries for Tanzania Inc. For

question 102

Essay

Accounts receivable assigned
Prepare journal entries for Tanzania Inc. for:
a) Accounts receivable of $700,000 that were assigned to Chad Finance Co. by Tanzania as security for a loan of $580,000. Chad charged a 4% commission on the value of the accounts receivable; the interest rate on the note is 11%.
b) During the first month, Tanzania collected $300,000 on assigned accounts. As well, Tanzania wrote off a $1,100 assigned account as a bad debt.
c) Tanzania paid Chad the amount collected plus one month's interest on the note.

Identify and comprehend the function and specificity of various types of ion channels and ions in neuronal activities.

Explain the process and significance of neurotransmitter release in neural communication.

Describe the mechanisms through which toxins and drugs can affect nerve cell function.

Recognize and differentiate between various neurotransmitters and their roles in the nervous system.

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Definitions:

Surpluses

Situations in which the quantity of a product or service supplied exceeds the quantity demanded, or when revenues exceed expenditures in a budget.

Tax Expenditures

Governmental financial benefits conferred through tax policies, allowing individuals or corporations to reduce their tax liabilities through deductions, exemptions, or credits.

Means-tested Benefit

Government assistance programs that provide benefits based on the recipient's income and assets, ensuring aid goes to those in financial need.

Entitlement

A government program guaranteeing access to benefits by members of a specific group and based on established rights or by legislation.