true or false

disregard question 10

10) A company issues a 120-day, 14% note for $16,000. What is the principal amount of the note? (Round your answer to the nearest dollar.) A) $16,747 B) $16,000 D) $15,253 C) $18,240 27) Cash in the bank is more liquid than a petty cash fund. 25) Petty cash is a fund containing a small amount of cash that is used to pay for minor expenditures. 25) 29) A key to strong control over petty cash is to ensure that several persons serve as custodian at one 29) 30) The journal entry to open a new petty cash fund includes a debit to the Petty Cash account and a30) 31) Debit cards offer the customer the convenience of buying something without having to pay cash31) 27) time. credit to the Cash account. immediately 32) Comparies process credit and debit card transactions internally 33) The two common methods of processing credit and debit card transactions are gross and net 34) The primary reason that businesses keep their cash in a bank account is the ability to earn interest. 35) A signature card is a card that shows each authorized person's signature for a bank account 36) As proof of the deposit transaction, a customer receives a canceled check from the bank 37) The bank statement shows the beginning and ending balances of cash in a bank account, cash 32) 33) 34) 35) 36) 37)- receipts and payments, and the names of all individuals who are authorized to sign checks 38) The cash ratio helps to determine a company's ability to meet its short-term obligations 39) Each recivable transaction involves two parties - the one who takes on the obligation and the one 38) 39) who will collect the cash