On January 1, Lettuce Eat, Inc., issued $300,000 of 6% bonds at 87.000 when the market rate of interest is 11%. Interest is paid annually on December 31. By what amount should Interest Expense be debited when recording the first annual interest payment?

On March 15, Ken Karmel received an oral offer to work as an account executive for Wonder Stock Brokerage Company. Ken orally accepted the offer on April 1, and agreed to begin work on May 1. The duration of the contract was one year from May 1, and provided a $24,000 salary plus a bonus based on commissions earned. Under these circumstances, which of the following is true?

A. Ken has an agency coupled with an interest. B. The contract in question is not subject to the statute of frauds. C. Ken is permitted to delegate his performance to another equally competent person. D. Although Ken's contract is silent on the point, Ken has an implied right to reimbursement for the reasonable and necessary expenses incurred on behalf of Wonder.

Which of the following workers is the most productive?

A) $50 wages, 10 parts produced B) $10 wages, 1 part produced C) $30 wages, 5 parts produced D) $100 wages, 21 parts produced E) $500 wages, 100 parts produced