On September 5 , Zhu Company buys merchandise on account from Gao Company. The selling price of the goods is \( ¥ 15,000 \), and the cost to Gao Company was \( ¥ 8,000 \). On September 8 , Zhu returns defective goods with a selling price of \( ¥ 2,000 \) and the fair value of \( ¥ 300 \). Record the transactions on the books of Gao Company. Sept. 5 Sept. 5

Record estimated bad debts assuming that Allowance for Doubtful Accounts has a \$1,600 credit balance.

than is looking to take out a mortgage or \( \$ 620,000 \) from a bank offering an nnual interest rate of \( 4.5 \% \), ompounded monthly. Using the formula elow, determine his monthly payment, o the nearest dollar, if the loan is taken ver 25 years. \[ M=\frac{P r}{1-(1+r)^{-n}} \]

Find the missing value. \[ P=\operatorname{Php} 12,000 ; r=5 \% ; t=\text { ? } \] years; \( \quad=6,000 \) Your answer

After 2 years Maggie paid \( \$ 75 \) interest on a loan that had a \( 6 \% \) simple interest rate. How much did she borrow?

\( \$ 5000 \) are invested in a bank account at an interest rate of 5 percent per year. Find the amount in the bank after 13 years if interest is compounded annually. Find the amount in the bank after 13 years if interest is compounded quarterly. Find the amount in the bank after 13 years if interest is compounded monthly. Finally, find the amount in the bank after 13 years if interest is compounded continuously.