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Advocard [28]
1 year ago
12

A company receives $371, of which $21 is for sales tax. the journal entry to record the sale would include a:________

Business
1 answer:
Phoenix [80]1 year ago
8 0

A company receives $371, of which $21 is for sales tax. the journal entry to record the sale would include a debit to Cash for $371.

Claim means a reservation against payment made or unpaid. Debit entries are typically created to the left of accounts. So, when a transaction is made in a double-entry bookkeeping system, one account is debited and the other is credited.

A direct debit is a record of money taken from a bank account. For example, when writing a check. The total debits must balance the total credits. Synonyms: Payment, Liability, Payment, Obligation Other synonyms for direct debit.

Debit is a formal bookkeeping and accounting term, derived from the Latin word debate, meaning "borrow". Charges are categorized on the positive side of balance sheet accounts and on the negative side of resulting items.

Learn more about Debit here: brainly.com/question/14279491

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A corporation is a separate entity apart from that of the owners. A corporation is not responsible for its debts if it fails. A corporation is much larger than other kinds of businesses.

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Which of the following is not allowed as an itemized deduction?
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Casassa, a merchant in San Francisco, under the terms of a nonshipment contract, agrees to sell 50 cases of packaged macaroni to
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Fresno

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A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.

The uniform commercial code (UCC) is a set of standardized business laws which are put in place for the regulation of financial contracts and commercial transactions used across different states in the United States of America. There are special rules known as the special business standards that are set up by UCC governing merchants and the sales of goods in Article 2 of the Uniform Commercial Code.

Under Article 2 of the Uniform Commercial Code, a shipment contract between two parties (buyer and seller) states that a buyer bears the risk of loss and is typically responsible for the costs of goods in the event of any damage or loss incurred during transportation and prior to receiving the goods.

In this scenario, the transaction is a nonshipment contract and the place for delivery is not specified in the agreement.

However, on the basis of the facts that both parties are aware that the 50 cases of packaged macaroni are in a warehouse in Fresno, the place for delivery is Fresno.

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