A cash payment received from a customer for a product purchased on account would be recorded as DEBIT TO CASH AND CREDIT TO ACCOUNT RECEIVABLE. Cash is debited because cash has been received by the company and it has to be debited to the asset account of cash. The account receivable is credited to record the fact that money has been received.
Answer:
Yes. It is true. the shifting from manufacture to services is the idea implicit in the term "service economy"
Explanation:
The constant grow of services in the industrialization process lead to the creation of this economy.
The amount of lottery winnings that should be included in Emil's Year 8 taxable income is: $5,000.
<h3>What is taxable income?</h3>
Taxable income can be defined as the income that are reduce by tax or other deduction.
Since we were told that the amount of $5,000 was won in the state lottery, which means that the amount of lottery winnings that should be included in Year 8 taxable income is will be the total or the whole amount of the gambling winnings which is $5,000.
Learn more about Taxable income here:brainly.com/question/26316390
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Answer Including your stepparent's information on the FAFSA form helps create an accurate picture of your family's total financial strength
Answer:
This situation brings up a potential conflict of interest for you.
Explanation:
"A conflict of interest occurs when an entity or individual becomes unreliable because of a clash between personal (or self-serving) interests and professional duties or responsibilities. Such a conflict occurs when a company or person has a vested interest, such as money, status, knowledge, relationships, or reputation, which puts into question whether their actions, judgment, and/or decision-making can be unbiased. When such a situation arises, the party is usually asked to remove themselves, and it is often legally required of them."
Then you should ask to remove yourself from the new landscaping company decision making if your son's company is an option among them.
Reference: Segal, Troy. “How to Tell When's There's a Conflict of Interest.” Investopedia, Investopedia, 29 Apr. 2019
