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A client pays a company the full 12000?
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A client pays a company the full 12000?
Sep 22, 2023 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. What's the correct entry to record the transaction? On October 1, a client pays a company the full $12,000 balance of a year-long contract. On January 1, the company pays one year of rent in advance for $12,000 ($1,000 per month). Jun 27, 2023 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. On October 1, a client pays a company the full $12,000 balance of a year long contract. What's the correct entry to record the transaction? On October 1, a client pays a company the full $12,000 balance of a year-long contract. Many companies use services or software to allow employees to access their pay stubs electronically. Find step-by-step Accounting solutions and your answer to the following textbook question: On October 1, a client pays a company the full $12,000 balance of a year-long contract. $12,000 Explanation: Since it is given that The invoice received for $12,000 with terms of 2/10,. These companies specialize in organizing and conductin. On October 1, a client pays a company the full $12,000 balnace of a year-long contract. (Credit account titles are automatically indented when the amount is entered. On October 1, a client pays a company the full. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. On October 1, a client pays a company the full $12,000 balance of a year-long contract. What's the correct entry to record the transaction? On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Best Matched Videos Solved By Our Expert Educators 01:57. he pays a 7% commission, $12,000 in discount points,. Mei 28, 2023 0 Comments All the hard work pays off 6. A company sells 12-month popular magazine subscriptions. The company follows the alternative for deferrals by debiting insurance expense on October 1. Study with Quizlet and memorize flashcards containing terms like Which financial product typically pays the highest rate of interest?, Troy has $50. The assets owned by the business will then be calculated as: $12,000 (what it owes) + $100,000 (what you invested) = $112,000 (what the company has in assets) On October 1 , a client pays a company the full $ 12,000 balance of a yearlong contract. Every bit helps, and your support is. 5% of them were retrenched,50. These services are often provided by a third party, and are usually accessible. On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of. Answer: B. On October 1, a client pays a company the full $12,000 balance of a year long contract. On October 1, a client pays a company the full $12,000 balance of a year long contract. There are 26 bi-weekly pay periods in a year, once every two weeks. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Hello! I'm the Brainly AI Helper here to assist you. Find step-by-step Accounting solutions and your answer to the following textbook question: A company receives $10,000 in cash for services yet to be performed. 31 the company had completed $12,000 of work for a client that will be billed in January. Whether it’s a meeting with a client, paying bills on time, or even something as simple as taking. If you are a Duke Energy custo. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. What's the correct entry to record the transaction? Final answer: The true statement regarding Company B's financial statements is that Company B's assets and expenses will be the same regardless of the account. Using the Accrual method, what's the unearned revenue as of December 31? Submitted by Debra W 08, 2023 02:19 p Jul 25, 2022 · According to the accrual method of accounting, revenue is recognized when earned, regardless of when payment is received. They provide insight into how customers perceive your company and products, and can help you identify areas. Find step-by-step Accounting solutions and your answer to the following textbook question: On October 1, a client pays a company the full $12,000 balance of a year long contract. On October 1, a client pays a company the full $12,000 balance of a year long contract. On October 1, a client pays a company the full $12,000 balance of a year-long contract. In today’s fast-paced business world, time is of the essence. Find a Dental Companies PPC agency today! Read client reviews & compare industry experience of leading Dentists PPC management companies. a client pays a company the full $12,000 balance of a year-long contract. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. If a company receives $13,800 from a client for services provided, the effect on the accounting equation would Get the answers you need, now!. These services are often provided by a third party, and are usually accessible. What's the correct entry to record the transaction? For example, imagine that a company named "Treehouse" orders office furniture on credit; the furniture is delivered and an invoice is issued, but it isn't paid for until several weeks later On October 1, a client pays a company the full $12,000 balance of a year-long contract. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. Using the Accrual method, what's the unearned revenue as of December31? Here’s the best way to solve it 98% (41 ratings) Question: On October 1, a client pays a company the full $12,000 balance of a year long contract. What's the correct entry to record the transaction? Q: On July 1, 2022, Sheridan Company pays $12,500 to Oriole Company for a 2-year insurance contract. (Credit account titles are automatically Indented when the amount is entered. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. On October 1, a client pays a company the full $12,000 balance of a year-long contract. What's the correct entry to record the transaction? On October 1, a client pays a company the full $12,000 balance of a year-long contract. On October 1, a client pays a company the full $12,000 balance of a year-long contract. Win Corporate Clients: The Real Deal 2021 will teach you not only how to land corporate clients, but also grow your small business as the world reopens after the pandemic Are you over-servicing your clients? It may be hurting your business. With the ever-evolving landscape of marketing, it’s crucial to stay ahead of. Debit sales revenue$10,000, credit cash $10,000. What is the proper adjusting entry on December 31? debit insurance expense and credit prepaid insurance for $3,000 debit insurance expense and credit prepaid insurance. Homework Help > Questions and Answers Answered step-by-step. On October 1, a client pays a company the full $12,000 balance of a year-long contract. a client pays a company the full $12,000 balance of a year-long contract. And when it comes to showcasing your company to potential clients, investors, or even employees, a well-crafted company profile. Dec 16, 2019 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. On October 1, a client pays a company the full $12,000 balance of a year-long contract. This means that the company has had the opportunity to earn 3/12 (or 1/4) of the revenue from the contract. pays a weekly payroll of $95,000 that includes federal taxes withheld of $12,000 FICA taxes withheld of $7,250, and retirement withholdings of $6,000 On October 1, a client pays a company the full $12,000 balance of a year-long contract. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. Feb 17, 2023 · On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. As of December 31, the unearned revenue will be $12,000. Are you a freelance writer looking to attract more clients and build a successful career? Look no further than WriterBay. On October 1, when a client pays a company the full $12,000 balance of a year-long contract using the accrual method, what's the unearned revenue as of December 31? Verified by Proprep Tutor If you have any additional questions, you can ask one of our experts. This comprehensive analysis explores the implications of this full payment on the company’s financial health, project execution, client expectations. c. Using the Accrual method, what's the unearned revenue as of December 31? Answer. Step 2/6 Determine the monthly revenue by dividing the total amount by the number of months in the contract On October 1, a client pays a company the full $12,000 balnace of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Date Transaction Amount January 31 One month has passed on a pre-paid insurance policy intially worth $12,000 $2,000 February 15 Company completes $7,300 of services for a client who had previously pre-paid $10,000 in advance 7,300 February 28 Employees earn $17,000 in salary but this will not be paid until the next pay period in March 17,000. Using the accrual method, what's the unearned revenue as of December 31 Cathy deposit $12,000 into the bank account that pays 6% interest compounded quarterly then The account balance be in the seven year is 18,207. bates gould funeral home nebraska What is the proper adjusting entry on December 31? debit insurance expense and credit prepaid insurance for $3,000 debit insurance expense and credit prepaid insurance. Using the accrual method, what's the unearned revenue as of December 31. But figuring out who will pay the bill for the damages could take a. 2, October 4: Pioneer Advertising pays $6,000 for a one-year insurance policy that will expire next year on September 30 Question: On July 1, 2022, Damen Jurado Company pays $12,000 to its insurance company for a 2-year insurance policy Prepare the necessary journal entries for Damien Jurado on July 1 and December 31. on october 1 , a client pays a company the full $ 1 2, 0 0 0 balance of a year long contract. On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Jan 23, 2023 · On October 1, a client pays a company the full $12,000 for a year-long contract. The estimated life is 5 years with no salvage. Shareholders, employees, and the general public are increasingly interested i. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. Using the accrual method, what's the unearned revenue as of December 31. Jan 29, 2024 · On October 1, a client pays a company the full $12,000 balnace of a year-long contract. When Dallas Company bills a client for $28,000 of consulting work completed, it means that the work has been performed and the company expects payment for that work On October 1, a client pays a company the full $12,000 balance of a year-long contract. tattoo shops batesville ar $12,000 Explanation: Since it is given that The invoice received for $12,000 with terms of 2/10,. Since the company has received the full balance over the services not yet provided. May 11, 2022 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. Which group would have the greatest problem during periods of high inflation? On October 1, a client pays a company the full $12,000 balance of a year-long contract. … A: Date Accounts title and explanation Debit ($) Credit ($) 1-Jul-22 Prepaid insurance $12,500… On October 1, a client pays a company the full $12,000 balance of a year-long contract. The unearned revenue as of December 31 will be $12,000. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. BEST MATCH Solve the problem where the amount of wages (after subtracting withholding allowances) is over $551 but not over $1,767 so the. The company will record the payment with a debit of $12,000 to Prepaid Insurance and a credit of $12,000 to Cash. Using the Accrual method, what's the unearned revenue as of December31? On October 1, a client pays a company the full $12,000 balance of a year long contract. The right name can help establish your brand identity, attract cl. Jan 3, 2024 · The correct form for reporting a client giving $12,000 in cash to purchase an immediate annuity is the a. Using the accrual method, what's the unearned revenue as of December 31. Jul 5, 2023 · 1. The world learned relatively quickly that cybersecurity firm CrowdStrike was behind a crippling global tech outage on Friday. 31 the company had completed $12,000 of work for a client that will be billed in January. if the loan has a 5% annual interest rate compounded continuously and the landowner plans to pay off the loan in 16 months, what is the total amount owed? $12,99927 $21,60049. Cash is an asset and will decrease on the credit side. ^ Chegg survey fielded between Sept 12, 2023 among U customers who used Chegg Study or Chegg Study Pack in Q2 2023 and Q3 2023. Using the accrual method, what's the unearned revenue as of December 31? a $1,000 c $9,000 e. scarlet nexus r34 Using the accrual method, what's the unearned revenue as of December 31 Verified answer. On October 1, a client pays a company the full $12,000 balance of a year -long contract. It offers credit terms of 3/10, n/30. What's the correct entry to record the transaction? On October 1, a client pays a company the full $12,000 balance of a year-long contract. What's the correct entry to record the transaction? Sarah will pay $ 12,000 as the invoice has a term that indicates a cash discount (2/10) of 2% if payment is made with in 10 days from the date of invoice and (n/30) no discount is given if payment is made after 30 days On October 1, a client pays a company the full $12,000 balance of a year-long contract. When starting a real estate company, one of the most crucial decisions you will make is choosing the perfect name. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. In today’s digital age, managing your finances online has become more convenient than ever. There are 26 bi-weekly pay periods in a year, once every two weeks. According to an alert sent by the global cybersecurity firm CrowdStrike to its clients and reviewed by Reuters, the company's Falcon Sensor software caused Microsoft Windows to crash and display a. Using the Accrual method, what's the unearned revenue as of December31? We store cookies data for a seamless user experience. a client pays a company the full $12,000 balance. Find the number of employees whowere unaffected by the downsizing.
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If you’re a resident of New York and looking to pay your company bills online, you’re in. Using the Accrual method, what's the unearned revenue as of December 31?. Step 2/6 Determine the monthly revenue by dividing the total amount by the number of months in the contract On October 1, a client pays a company the full $12,000 balnace of a year-long contract. \[ \text{Monthly Revenue} = \frac{12,000}{12} = 1,000 \] Step 3/6 Find step-by-step Accounting solutions and your answer to the following textbook question: On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the accrual method, what's the unearned revenue as of December 31? a $1,000 c $9,000 e. If you’re a resident of New York and looking to pay your company bills online, you’re in. 7% compound interest for 3 years without making any payments, Frank would need to pay back approximately $30,107. Running a cleaning company can be a rewarding business venture, but as your client base grows, so does the demand for more cleaning services. Using the accrual method, what's the unearned revenue as of December 31? $0 $1,000 $5,000 $9,000 $12,000 Jul 2, 2023 · On October 1, a client pays a company the full $12,000 balnace of a year-long contract. On January 1, a company pays one year of rent in advance for $12,000, which amounts to $1,000 per month. Since the company has received the full balance over the services not yet provided. Cash is decreasing because it was used to pay for the outstanding liability created on January 5. If you need to go through a background check for a job or volunteer position then you’ll need to have your fingerprints taken. On October 1, a client pays a company the full $12,000 balance of a year-long contract. specials at applebee's on sunday Leah University of South Carolina · Tutor for 3 years. Using the accrual method, what's the unearned revenue as of December 31. On October 1, a client pays a company the full $12,000 balance of a year long contract. (Credit account titles are automatically indented when the amount is entered. Here’s the best way to solve it. on october 1 , a client pays a company the full $ 1 2, 0 0 0 balance of a year long contract. Corporate gift card programs have become increasingly popular among businesses as a way to reward employees, thank clients, and promote brand awareness. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Using the accrual method of accounting, when the client pays a company the full $12,000 balance of a year-long contract on October 1, the payment received is considered unearned revenue until the service is performed. On October 1, a client pays a company the full $12,000 balnace of a year-long contract. This is accomplished with a debit of $1,000 to Insurance Expense and a. Web design is an ever-evolving field, with new trends and technologies constantly emerging. Using the Accrual method, what's the unearned revenue as of December31?. By December 31, three months have passed, equating to a quarter of the contract term. The world learned relatively quickly that cybersecurity firm CrowdStrike was behind a crippling global tech outage on Friday. Balance Sheet as on 312018 will show an increase in Cash Balance by the amount of annual subscription of Rs 12000 and Unearned Income, a liability. Whether it’s a meeting with a client, paying bills on time, or even something as simple as taking. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. steph curry candace parker commercial ^ Chegg survey fielded between Sept 12, 2023 among U customers who used Chegg Study or Chegg Study Pack in Q2 2023 and Q3 2023. On October 1, a client pays a company the full $12,000 balance of a year-long contract. On October 1 a client pays a company the full 12000 balance of a year long contract Using the accrual method whats the unearned revenue as of December 31 0 1000 5000 9000 12000. Total Pay2 = $18400 + $500x. With a global presence and a strong ne. The unearned revenue as of December 31 will be $12,000. What's the correct entry to record the transaction? The new employee pays Nova the full principal owed on the maturity date. The fixed cost is $6,000. On October 1, a client pays a company the full $12,000 balance of a year-long contract. On October 1, a client pays a company the full $12,000 balance of a year long contract. Accounting Equation for Cash Advance Received From Customer. Client onboarding is a crucial process for any business. By December 31, three months have passed since the client paid the $12,000. By December 31, three months have passed, equating to a quarter of the contract term. The adjusting journal entry on December 31, Year 1 requires a. The unearned revenue as of December 31 will be $12,000. Using the accrual method, what's the unearned revenue as of December 31. Prepare journal entries to record the above transactions for Nova Corporation. Using the accrual method, what's the unearned revenue as of December 31 On July 1, 2027, Damlen Jurado Company pays $12,000 to its insurance company for a two-year insurance policy. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Question: Leno Company sells goods to the Fallon Company for $12000. Sep 19, 2023 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31? 0 1,000 5,000 9,000 12,000. With so many options availa. axcessa login Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Question:-On October 1, a client pays a company the full $12,000 balance of a year long contract. Currency Transaction Report (CTR), which is used to track large cash transactions and compliance with anti-money laundering regulations On October 1, a client pays a company the full $12,000 balance of a year-long contract The first company pays a salary of $12000 plus a commission of $900 for each car sold. If you are faced with the daunting task of managing an estate sale, hiring an estate sale company can be a tempting solution. If you are a Verizon customer, it. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. Using the accrual method, the unearned revenue as of December 31 would be $9,000. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. If a company starts the year with an inventory of $10,000 and has purchases for resale during the year worth $20,000, what is the cost of goods sold if the inventory on December 31 is $5,000? Verified by Proprep Tutor If you have any additional questions, you can ask one of our experts Question: On September 1, a client paid the company $24,000 cash for six months of rent in advance (the client leased a building and took occupancy immediately). Using the Accrual method, what's the unearned revenue as of. 1. Step 2/6 Determine the monthly revenue by dividing the total amount by the number of months in the contract. Respondent base (n=611) among approximately 837,000 invites. Century 21 is a renowned real estate company that has been providing exceptional services to home buyers and sellers for over half a century. What's the correct entry to record the transaction? On October 1, a client pays a company the full $12,000 balance of a year-long contract. During a downsizing exercise, 2. Purchases for resale during the year were $20,000. Check out these tips to recognize and stop the bad habit. Using the accrual method, what's the unearned revenue as of December 31. But figuring out who will pay the bill for the damages could take a. Find a Dental Companies PPC agency today! Read client reviews & compare industry experience of leading Dentists PPC management companies. Using the accrual method, what's the unearned revenue as of December 31. When Cullumber Company pays $12,000 for a 3-year insurance contract on July 1, 2019, an initial journal entry is made to record the payment On October 1, a client pays a company the full $12,000 balance of a year-long contract. Check out these tips to recognize and stop the bad habit.
15th Edition • ISBN: 9781337671002 Eugene F. The process is simple and the company requesting the. On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Total Pay2 = $18400 + $500x. mountain tops full movie myvidster Currency Transaction Report (CTR), which is used to track large cash transactions and compliance with anti-money laundering regulations. Mei 28, 2023 0 Comments All the hard work pays off 6. In 2023, chaya corporation, an accrual basis, calendar year taxpayer, provided services to clients and earned $25,000. What's the correct entry to record the transaction? Click here 👆 to get an answer to your question ️ the seller wants to net $520,000. gray's automotive prattville Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Using the accrual method, what's the unearned revenue as of. A company has 12000 employess. What's the correct entry to record the transaction? The company receives an annual subscription of Rs 12000 from one of its clients on 312018 for the next year. seatac airport careers Find an answer to your question a company buys a machine for $12,000 which it agrees to pay in five annual payments,. In today’s competitive business landscape, having a powerful professional company profile is essential for success. However, you also need to consider the commission charged by your full-service investment company, which is $5. Cash is decreasing because it was used to pay for the outstanding liability created on January 5. On October 1, a client pays a company the full $12,000 balance of a year-long contract. In this scenario, the client paid the company the full $12,000 balance of the year-long contract on October 1 When the client pays the full amount upfront, the entire $12,000 is initially recorded as unearned revenue because the service has not been provided yet Dec 31, 2015 · On December 1, 2015, the a client pays $12,000 to cover a building for the period December 1, 2015-November 30, 2016. The estimated life is 5 years with no salvage.
Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Using the accrual method, what's the unearned revenue as of December 31 Business; Accounting; Accounting questions and answers; Your calendar year company pays $12,000 a year for security services you remit payment for the next 3 months' service and record it in Prepaid Security Expense. The unearned revenue as of December 31 will be $12,000. Client onboarding is a crucial process for any business. A Client Pays A Company The Full 12000. In today’s fast-paced world, it’s easy to forget important tasks or appointments. This means that the company has had the opportunity to earn 3/12 (or 1/4) of the revenue from the contract. (Credit account titles are automatically indented when the amount is entered. This is accomplished with a debit of $1,000 to Insurance Expense and a. Assets decrease $12,200 and equity decreases $12,200 On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Contena is a popular platform that connects freelance writers with high-qual. This means that the company has had the opportunity to earn 3/12 (or 1/4) of the revenue from the contract. What's the correct entry to record the transaction? A landlord plans to take out a $12,000 loan to cover the cost of a new roof for a rental home. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. Insurance companies have many products and services to offer to new and existing clients. Do not Indent manually. The company follows the alternative for deferrals by debiting insurance expense on October 1. ← A Client Release Form Should Be Signed A Client On Hospice Care Is Receiving Palliative. What's the correct entry to record the transaction? On October 1, a client pays a company the full $12,000 balance of a year-long contract. Question 4 section time lett 092401 single Choice Scenario You are the financial manager of a software company The company has just completed a project for a client and delivered the final product The project duration was three months and the total contract value was 50000 The client has agreed to pay 50 of the contract value upon signing the agreement with the remaining 50 to be paid upon. In today’s digital age, managing your finances online has become more convenient than ever. (Credit account titles are automatically indented when the amount is entered. main event how much does it cost Using the accrual method, what's the unearned revenue as of December 31 New questions in %subject% Which business model is utilized by a grocery store? A Cutting out the middleman C Bricks and clicks The business pays $12,000 in cash to the supplier The cash payment reduces the cash balance, so the Cash account is credited On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the Accrual method, what's the unearned revenue as of. When should Omar recognize the revenue for this transaction under the accrual basis? 3- On October 1, Omar provides catering services to a corporate client and invoices them for SAR 12,000. A company has a fiscal year-end of December 31: (1) on October 1, $12,000 was paid for a one-year fire insurance policy; (2) on June 30 the company loaned its chief financial officer $10,000; principal and interest at 6% on the note are due in one year; and (3) equipment costing $60,000 was purchased at the beginning of the year for cash. Sep 22, 2023 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31 Verified answer. Using the accrual method, we spread this revenue over the 12 months it covers. A Client Pays A Company The Full 12000. Transaction analysis:. Using the Accrual method, what's the unearned revenue as of. 1. This is an example of:, When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the. Note: Enter debits before credits. As of Dec. the clients signed notes receivable to chaya that have a fair market value of $22,000 at year-end. bearded dragon head turning white Using the Accrual method, what's the unearned revenue as of December31? We store cookies data for a seamless user experience. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. Hello! I'm the Brainly AI Helper here to assist you. The accounting equation, Assets = Liabilities + Owners Equity means that the total assets of the business are always equal to the total liabilities plus the total equity of the business This is true at any time and applies to each transaction. Check out these tips to recognize and stop the bad habit. Aug 8, 2023 · For the first company, the total pay is given by: Total Pay1 = Salary + Commission per car sold. Using the accrual method, what's the unearned revenue as of December 31 New questions in Business. As of December 31, the unearned revenue will be $12,000. 75% of them had a pay cut and the rest wereunaffected. Previous question Next question. So, the company needs to adjust their accounting records to reflect this A sole proprietorship business owes $12,000 and you, the owner personally invested $100,000 of your own cash into the business. 15th Edition • ISBN: 9781337671002 Eugene F. 25% over 10 years, we can use the formula for simple interest: Interest = Principal × Rate × Time On October 1, a client pays a company the full $12,000 balance of a year-long contract. At year end, what adjusting entry will you record? (first line debit - second line credit) Select one: O a. The bi-weekly pay period is the most common.