Martin & Associates Borrowed $15,000 on April 1, 2016 at 8

question 2

Multiple Choice

Martin & Associates borrowed $15,000 on April 1, 2016 at 8% interest with both principal and interest due on March 31, 2017.Which of the following journal entries should the firm use to accrue interest at the end of each month?

Understand the role and impact of gene flow and genetic drift in populations.

Describe the process and impact of stabilizing, directional, and diversifying selection.

Recognize the importance of mutations as the source of genetic variation.

Explain the basis and effects of sexual selection on species.

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Definitions:

Purchases of Real Assets

The acquisition of physical or tangible assets such as real estate, equipment, or commodities.

Financial Account

A component of the balance of payments that records transactions that cause a change in ownership of financial assets and liabilities between residents and non-residents.

Balance Surplus

The amount by which income exceeds expenditures in a budget, or the excess of receipts over payments in an account.

Balance Deficit

A financial situation where expenditures exceed revenue over a specific period, often used in the context of government budgets.