Explanation:
The Journal Entry for 3 May is as shown below:-
Allowance for Doubtful Accounts Dr, $2,000
To Accounts Receivable A. Hopkins $2,000
(Being the write off is recorded)
Therefore for passing the journal entry we simply debited allowance for doubtful account and credited the accounts receivable)
Hello there!
Staple and Impulse goods tend to be around places like the supermarket/stores/etc. Here are what they are:
Staple goods:
Goods that consumers buy on a regular basis, and consumed regularly.
Staple goods are very common in places like supermarkets. Staple goods are goods like milk, eggs, bread, sugar, etc. These items are what consumers usually go to the store for, and they usually put these specific items on their "to buy" list when they go shopping.
Impulse goods:
Goods that tend to not need planning in order for a consumer to buy. This is typically known as the "surprise lets buy that" type of goods.
Impulse goods are goods that people usually don't think of getting, but when they see it, they get it anyways. These would be known as things like snacks, candy, etc. People usually don't put those items on their "to buy" list, but when they see it, they buy it anyways. To sum it all up, these types of items do not need planning to buy, and could be an "out of nowhere" purchase.
Answer and Explanation:
The journal entries are shown below:
a. Account receivable Dr $25,000
To Sales revenue $25.000
(Being goods sold on account)
b. Sales returns & allowance Dr $2,500
To Account receivable $2,500
(being returned goods is recorded)
c. Cash Dr $21,825
Sales discount Dr ($22,500 × 3%) $675
To Account receivable ($25,000 - $2,500) $22,500
(being cash is recorded)
Answer:
A set of business plans has to be established for Craig not to be totally broke in December
Explanation:
Below are sets of plan to take on for an effective business plan to yield growth
- Establish a results-driven planning process with prompts and definition of specific business terms and procedures.
- Organize the distinct business ideas possessed into an attractive yet concise visual format.
- Develop and monitor forecasts and budgets to see if there is a potential of the business to yield money.
- Work on convincing targeted investors with a proven and strategic format that should impress them.
- Seek professional advice and real life examples while working on yours.
- Consistently monitor the business you started using a unique dashboard and see how progressive you have been, the hurdles being encountered, and facilitating ways to better improve the said business.
With strict adherence to the above outlined plans, Craig does stand a chance of making profits and not being broke at December
Answer:
all of them
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Explanation:
