In the ________ method, a manager is presented with a written description of an organizational problem to diagnose and solve

Answer the following statement(s) true (T) or false (F)

1. Since individuals are always confronted with opportunities to earn positive rates of return on their funds, the timing of cash flows does not have any significant economic consequences. 2. Time-value of money is based on the belief that a dollar that will be received at some future date is worth more than a dollar today. 3. Future value is the value of a future amount at the present time, found by applying compound interest over a specified period of time. 4. Interest earned on a given deposit that has become part of the principal at the end of a specified period is called compound interest. 5. The future value interest factor is the future value of $1 per period compounded at i percent for n periods.

On November 1, 2017, Kelemen Jewelers accepted a 3-month, 15% note for $6,000 in settlement of an overdue account receivable. The accounting period ends in December. Give the journal entry to record the accrued interest at the year end

What will be an ideal response