Answer:
The cash collection on September 9 is records by the entry:
Debit Cash $5,300
Credit Accounts Receivable $5,300
Explanation:
Barnes Books allows for possible bad debts. On May 7, the company writes off a customer account. The journal entry:
Debit Allowance for Doubtful Accounts $5,300
Credit Accounts Receivable $5,300
On September 9, the customer unexpectedly pays the $5,300 balance. The journal entries:
1. Debit Accounts Receivable $5,300
Credit Allowance for Doubtful Accounts $5,300
2. Debit Cash $5,300
Credit Accounts Receivable $5,300
Answer:
The value of GDP in dollars = $74600
Explanation:
Given the GDP (gross domestic product) of Australia = 100000 AUD
Given the exchange rate, 1.34 AUD = $1.
Since we have given the total amount of GDP for Australia and exchange rate. Now we have to calculate the value of Australian GDP in the dollars. We can find this by dividing the total GDP with 1.34 AUD.
The value of GDP in dollars = 100000 / 1.34 = $74626.86 or $74600.
If the aggregate demand is increasing while the price level remains constant, it means that the spending and consumption in a macroeconomic setting is increasing. Given the constant range prices, consumers are now able to spend more therefore pushing the demand higher.
Answer:
Dr. Cr.
February 2, 2012
Inventory $30,000
Account Payable $30,000
February 10, 2012
Account Payable $30,000
Discount received $600
Cash $29,400
Explanation:
Term 2/10, n/30 means there is a cash settlement discount of 2% is available if the payment is made within 10 days after the purchase of goods. Net credit period is 30 days. Purchases were made on February 2 and Payment was made on February 10 within the discount period, so Shankar Company is entitled to claim the discount of 2%. Cash will be paid net of discount.
Discount = $30,000 x 2% = $600
Cash Payment = $30,000 - $600 = $29,400
The answer is b a district court judge
