A bill for wheat seed was paid from the farm bank account. The total amount paid was $735.00. The journal entry to record this payment would include a debit to Seed expense of $700.00 debit to Seed expense of $735.00 credit to Seed expense of $700.00 credit to Seed expense of $735.00 A bill for wheat seed was paid from the farm bank account. The total amount paid was $777.00. The journal entry to record this payment would include a debit to Bank Chequing (cash) of $740.00 credit to Bank Chequing (cash) of $777.00 debit to Bank Chequing (cash) of $777.00 credit to Bank Chequing (cash) of $740.00 The bill for tractor fuel was paid from the farm bank account. The total amount paid was $1,470.00. The journal entry to record this payment would include a debit to fuel expense of $1,470.00 debit to fuel expense of $1,400.00 credit to fuel expense of $1,400.00 credit to fuel expense of $1,470.00 What type of loan only make payments on principal are not made until the end of the loan Non-amortized loan Amortized loan Equal payments Principal plus interest payment Based on the following chart, what type of payment obtions have hean shneans b. semi-annual payments c. Equal payments d. Principal plus interest payment 6. What is the formula to calculate interest? a. Principal x Rate b. Principal X Rate X Time c. Rate x Time d. Principal Time 7. A $30,000.00 operating is taken out on April 30,2018 . The annual interest rate is 4.5%. How much would we owe in interest in a year? a. $675 b. $1,000 c. $1,250 d. $1,350 8. A $35,000.00 operating is taken out on May 1,2018 . The annual interest rate is 4.5%. What date will we be paying it back if we need to pay in back in 100 days? a. August 8,2018 b. August 9,2018 c. August 10,2018 d. August 11, 2018 9. A $35,000.00 operating is taken out on May 1,2018 . The annual interest rate is 4.5%. How much interest will we owe in 100 days? a. $338.36 b. $390.67 c. $431.51 d. $1,575 10. What is interest charge on a loan? a. The amount originally borrowed b. The balance owing to the lender c. Repayment of our loan d. Charged by the lender for the use of money borrowed 11. What are Principal plus interest payments? a. Each loan payment is the same. b. Principal and Interest will change with each payment. c. The amount of interest we pay will stay the same. d. Same amount of principal will be paid back with each payment 12. Lucky Farms purchased a used New Holland baler on January 16,2020 for $63,000. The agreement called f 15% down payment, with the balance to be financed through CNH Finance, with semi-annual payments ov years. How much is Lucky Farms paying out of their chequing (cash) at the time of purchase a. $6,300 b. $9,450 c. $53,550 d. $63,000 A bill for wheat seed was paid from the farm bank account. The total amount paid was $735.00. The journal entry to record this payment would include a debit to Seed expense of $700.00 debit to Seed expense of $735.00 credit to Seed expense of $700.00 credit to Seed expense of $735.00 A bill for wheat seed was paid from the farm bank account. The total amount paid was $777.00. The journal entry to record this payment would include a debit to Bank Chequing (cash) of $740.00 credit to Bank Chequing (cash) of $777.00 debit to Bank Chequing (cash) of $777.00 credit to Bank Chequing (cash) of $740.00 The bill for tractor fuel was paid from the farm bank account. The total amount paid was $1,470.00. The journal entry to record this payment would include a debit to fuel expense of $1,470.00 debit to fuel expense of $1,400.00 credit to fuel expense of $1,400.00 credit to fuel expense of $1,470.00 What type of loan only make payments on principal are not made until the end of the loan Non-amortized loan Amortized loan Equal payments Principal plus interest payment Based on the following chart, what type of payment obtions have hean shneans b. semi-annual payments c. Equal payments d. Principal plus interest payment 6. What is the formula to calculate interest? a. Principal x Rate b. Principal X Rate X Time c. Rate x Time d. Principal Time 7. A $30,000.00 operating is taken out on April 30,2018 . The annual interest rate is 4.5%. How much would we owe in interest in a year? a. $675 b. $1,000 c. $1,250 d. $1,350 8. A $35,000.00 operating is taken out on May 1,2018 . The annual interest rate is 4.5%. What date will we be paying it back if we need to pay in back in 100 days? a. August 8,2018 b. August 9,2018 c. August 10,2018 d. August 11, 2018 9. A $35,000.00 operating is taken out on May 1,2018 . The annual interest rate is 4.5%. How much interest will we owe in 100 days? a. $338.36 b. $390.67 c. $431.51 d. $1,575 10. What is interest charge on a loan? a. The amount originally borrowed b. The balance owing to the lender c. Repayment of our loan d. Charged by the lender for the use of money borrowed 11. What are Principal plus interest payments? a. Each loan payment is the same. b. Principal and Interest will change with each payment. c. The amount of interest we pay will stay the same. d. Same amount of principal will be paid back with each payment 12. Lucky Farms purchased a used New Holland baler on January 16,2020 for $63,000. The agreement called f 15% down payment, with the balance to be financed through CNH Finance, with semi-annual payments ov years. How much is Lucky Farms paying out of their chequing (cash) at the time of purchase a. $6,300 b. $9,450 c. $53,550 d. $63,000