Santana Rey has consulted with her local banker and is considering financing an expansion of her business by obtaining a long-term bank loan. Selected account balances at March 31, 2022, for Business Solutions follow.   Total assets $121,568 Total liabilities $862 Total equity $120,706 Required: 1. The bank has offered a long-term secured note to Business Solutions. The bank’s loan procedures require that a client’s debt-to-equity ratio not exceed 0.77. As of March 31, 2022, what is the maximum amount that Business Solutions could borrow from this bank? (Round your intermediate calculations to the nearest dollar amount.) 2. Assume Business Solutions borrows the maximum amount allowed from the bank. (Round your intermediate dollar values to the nearest whole number and final answers to 1 decimal place.) (a) What percentage of assets would be financed by debt? (b) What percentage of assets would be financed by equity?

"We have a contract with our partner bank that they pay us a monthly rebate that is calculated as a portion of the total interchange revenue they receive for each transaction that is run through our platform. As part of our contract/application with our customers we offer cash back rewards that is calculated as a percentage of the revenue that we receive from the bank for each of their transactions."Q: How do other credit card companies treat cash back rewards?

Good morning tutor. Can you help me with these problem? The subject is Financial Accounting and Reporting. Instruction: Read and Answer the following questions, provide also the solution and detailed explanation on how you come up with the answer.   Joseph Company assigned an accounts receivable to a bank in the amount of P1,000,000 on October 1, 20x1, as security for a loan of P800,000. The bank charged a 3% commission on the accounts. The interest rate on the note is 12%. Joseph collected P300,000 on assigned accounts after deducting P50,000 of discounts during the month. Moreover, Joseph wrote off a P53,000 assigned account. Joseph paid to the bank the amount collected plus one (1) month's interest on the note. On October 31, 20x1, Joseph estimated that 8% of the assigned accounts were doubtful in collection.   Questions: How much is the doubtful expense to be recognized by Joseph Company for the above transaction? What is Joseph Company’s accounts receivable balance on October 31,…

If a company accepts credit cards, they must record the expense on their books. Please prepare the journal entries for the following scenario:  Company A sells $480,000 on credit card sales.  The credit card charges a 4.5% fee for the use of the card.  The card company also deposits the cash into the company’s bank account the same night as the credit cards are accepted.