Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a car is sold for $36,000, zero down-payment, and

A car is sold for $36,000, zero down-payment, and 72 month equal payments at 0%...

80.2K

Verified Solution

Question

Accounting

  1. A car is sold for $36,000, zero down-payment, and 72 month equal payments at 0% interest. The market interest rate for a 6-year car loan is 3.5%. You bought the car for your company. What is the entry to record the asset and liability

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What do you think Donald Trump’s presidency means to the solution of some of the relevant...

Psychology
Q

Let A be a diagonalizable n Ă— n matrix and let P be an invertible n...

Advance Math
Q

Which of the following is not a function for all values of x?f(x) = xf(x)...

Basic Math
Q

Consider the following inequality: 25 <(x + 1)^2 + (y+ 6)^2. The shaded solution on...

Basic Math
Q

State rate 2 93 1 Nevada 2 Arizona 2 81 3 Utah 2 55 4...

Algebra
Q

If you borrow 500 for 6 months at 4 annual simple interest how much must...

Algebra
Q

21 Which of the following is a measure of liquidity? a....

Accounting
Q

When you start Excel, you open a file that's called a workbook. Each new workbook...

Accounting
Q

Can you help me with this problem, please? I would appreciate it. Thank you in...

Accounting
Q

QUESTION 16 Not yet answered Marked out of 1.00 Flag question For companies that use...

Accounting
Q

Estimating Share Value Using the DCF Model Following are forecasts of Home Depot's sales,...

Accounting
Q

Huntington Ingalls Industries just paid a dividend of Do-$2.50. Analysts expect the company's dividend to...

Finance