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Mkey [24]
2 years ago
10

Secret Trails received payment in full within the credit period for horse boarding for $1,300 plus 4% sales tax. Terms of the sa

le were 3/10, n/30. Which entry is required to record this
Business
1 answer:
riadik2000 [5.3K]2 years ago
7 0

The appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

<h3>Journal entry</h3>

Based on the information given the correct entry to record this transaction is:

Debit Cash $1313

{$1300+[($1300×4%)-($1300×3%)]}

[$1300+($52-$39)]

Debit Sales Discount $39

($1300×3%)

Credit Accounts Receivable $1352

[$1300 + ($1300×4%)]

Inconclusion the appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

Learn more about journal entry here:brainly.com/question/9701045

You might be interested in
A leveraged buyout refers to:
GarryVolchara [31]

Answer:

B. A firm goes heavily into debt in order to obtain funds to purchase the shares of the public.

Explanation:

A leverage buyout refers to when any company purchases any other company by using entirely debt and secure that debt with the assets of the same company they are purchasing.

Hope this helps,

Thank You.

3 0
3 years ago
Hailey Corporation pays a constant $9.45 dividend on its stock. The company will maintain this dividend for the next 13 years an
svet-max [94.6K]

Answer: $64.76

Explanation:

The current share price in this case will be the present value of the dividends,

As the dividends are constant, they can be treated as annuities.

Present value of annuity = Annuity * ( 1 - (1 + rate)^-number of periods) / rate

= 9.45 * ( 1 - (1 + 10.7%)⁻¹³) / 10.7%

= 9.45 * 6.8529386295

= $64.76

5 0
3 years ago
A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks
adell [148]

Answer:

a. 41.6 million

b. 42.28 million

Explanation:

The computations are shown below:

a. For the forecast for July month:

= Number of checks received in June × smoothing constant + (1 - smoothing constant) × forecast in June

= 40 million × 0.2 + (1 - 0.2) × 42 million

= 8 million + 33.6 million

= 41.6 million

b. For the forecast for August month:

= Number of checks received in  July × smoothing constant + (1 - smoothing constant) × forecast in July

= 45 million × 0.2 + (1 - 0.2) × 41.6 million

= 9 million + 33.28 million

= 42.28 million

c. In this, the exponential method is used. But in the given situation we use linear forecasting method

8 0
3 years ago
What skills will you need to work effectively in (a) a learning organization, and (b) a high-involvement organization? Be specif
Zigmanuir [339]

Answer:

(a) systematic skill and problem solving skill

(b) problem-solving, team building skills and communication skills,

Explanation:

Yes I will definitely enjoy working in that kind of environment.

I will be able to learn, improve and build up my myself in such environment.

Getting equipped with all the necessary skills needed.

7 0
4 years ago
Write a two- to three-paragraph response discussing whether you think the patent system is useful and beneficial. Why do you thi
mihalych1998 [28]

Answer:

The answer is below

Explanation:

Patent is a term that describes a governmental grant or legal right to inventors of an intellectual property, to refrain or stop others from making, using, selling or importing their invention to and from other country.

Patent system is useful and beneficial because of the following reasons:

1. It allows an inventor the right to stop others from copying, manufacturing, selling or importing individual's invention without the person's permission. This will surely encourage invention from other people, which will lead to more technological advancement in the country.

2. It gives an inventor protection for a pre-determined period. This helps to refrain competitors from competing with the inventor, and in turn, leads to profit maximization for the inventor.

3. It also allows the inventor to license patent for others to use it or can sell. This can be considered as a great source of revenue for inventor's business, by collecting royalties from a patent they have licensed, often in a combination with a registered design and trade mark.

7 0
3 years ago
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