West county bank agrees to lend drake builders company $400,000 on january 1. drake builders company signs a $400,000, 6%, 6-month note. the entry made by drake builders company on january 1 to record the proceeds and issuance of the note is
a. interest 6,000 cash ,000 notes payable ,000
b. cash ,000 notes payable ,000
c. cash ,000 interest 12,000 notes payable ,000
d. cash ,000 interest 12,000 notes payable ,000

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?

What is a market? a. a system that allows people or companies to buy and sell products and services b. the number of companies willing to manufacture a specific product c. the ability to buy production materials in large quantities and save on costs d. a product's ability to satisfy a consumer