PB11. 9.6 Record journal entries for the following transactions of Noreen Turbines. Jan. 1, 2018 Issued a $1,800,500 note to customer Axel Premium Metal as terms of a merchandise sale. The merchandise's cost to Noreen is $760,430. Note contract terms included a 36-month maturity date, and a 3.8% annual interest rate. Dec. 31, 2018 Noreen Turbines records interest accumulated for 2018. Dec. 31, 2019 Noreen Turbines records interest accumulated for 2019. Dec. 31, 2020 Axel Premium Metal honors the note and pays in full with cash.

1. In March of year one, Darcie sold land for $500,000. Her basis was $340,000. Accepting a down payment of $90,000, she took back an installment note of $410,000. She agreed to ten payments of $41,000 each, with the first one three months after the escrow closes and subsequent payments due on June 15th of each year until paid. Darcie collected the first four payments before she died. Her executor collected one payment before distributing the note to the three children, Arnold, Bobbie, and Charles, as tenants in common. They collected the final five payments. a. What is the note's gain recognition percentage and the note's basis percentage? b. Construct a table that shows by year (rows) the following (columns): recipient, principal received, gain recognized, note balance (after the payment), basis in the note. c. State how much gain was recognized by Darcie, by the estate, and by each of her three children. Does the total gain recognized square with the $160,000 that should be…

If $4,000 is borrowed today and $8,955 is paid back in 10 years, what interest rate compounded annually has been earned? % Round entry to one decimal place. Tolerance is ±0.2.

For this question, assume that the expected rate of inflation is a function of past year's inflation. Also assume that the unemployment rate has been greater than the natural rate of unemployment for a number of years. Given this information, we know that the inflation rate will be approximately equal to the natural rate of unemployment. А. the rate of inflation will approximately be equal to zero. В. C. the rate of inflation should steadily decrease. Op the rate of inflation should steadily increase over time. the rate of inflation should neither increase nor decrease. Е.