Sarazan Company issues a 4-year, 7.5% fixed-rate interest only, nonprepayable $1,000,000 note payable on December 31, 2019. It decides to change the interest rate from a fixed rate to variable rate and enters into a swap agreement with M&S Corp. The swap agreement specifies that Sarazan will receive a fixed rate at 7.5% and pay variable with settlement dates that match the interest payments on the debt. Assume that interest rates have declined during 2020 and that Sarazan received$13,000 as an adjustment to interest expense for the settlement at December 31, 2020. The loss related to the debt (due to interest rate changes) was $48,000. The value of the swap contract increased$48,000. Show Instructions a. Prepare the journal entry to record the payment of interest expense on December 31, 2020. b. Prepare the journal entry to record the receipt of the swap settlement on December 31, 2020. c. Prepare the journal entry to record the change in the fair value of the swap contract on December 31, 2020. d. Prepare the journal entry to record the change in the fair value of the debt on December 31, 2020. Recommended textbook solutions
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What is Wundt's work known for quizlet?Wilhelm Wundt (1832 - 1930) is known as the "Founder of Modern Psychology" and the "Father of Experimental Psychology". He established the first laboratory in the world that was dedicated to Experimental Psychology, particularly investigations on the senses and perceptions.
How did Wilhelm Wundt contribute to the study of psychology quizlet?How did Wilhelm Wundt contribute to the study of psychology? Wilhelm Wundt created the first experimental psychology lab in Leipzig, Germany in 1879. He trained his students to think and observe using objective introspection. He also founded structuralism; therefore, he is considered the Father of Psychology.
Which of the following is a contribution of Wilhelm Wundt?His greatest contribution was to show that psychology could be a valid experimental science. Therefore, one way Wundt contributed to the development of psychology was to do his research in carefully controlled conditions, i.e. experimental methods.
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Which of the following statements is true of Wilhelm Wundts early work in psychology quizlet?
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