Answer:
Expense & revenue summary a/c (credit balance) = $3500
Explanation:
1. Dr Expense & revenue summary 52500
Cr Sales discount 1500
Cr Sales return & allowance 3000
Cr Depreciation expense 25000
Cr Salaries expense 23000
(Close expenses to expense & revenue summary a/c)
2. Dr Sales 56000
Cr Expense & revenue summary 56000
(Close sales to expense & revenue summary a/c)
3. Dr Expense & revenue summary a/c 3500
Cr Retained earning a/c 3500
(To close expense & revenue summary a/c)
4. Dr Retained earning 2000
Cr Expense & revenue summary 2000
(Close dividend to expense & revenue summary a/c)d
The Given Statement is TRUE. Banks helped international trade by allowing merchants access to money in different locations.
<h3>
What is International Trade?</h3>
International Trade is the exchange of goods and services across international borders. It usually comes with additional risks caused by changes in exchange rates, government policies, laws, judicial systems, and financial markets.
International trade drives a country’s growth. Import-export figures are one of the top contributors to a country’s gross domestic product. Thus, every country tries to strengthen its global trade relationships with world leaders.
<h3>What is the role of the banks in International Trade?</h3>
Banks facilitate international trade by providing financing and guarantees to importers and exporters. While access to external funds is important for domestic production, it is especially important for exporting firms.
<h3>What did a Merchant do?</h3>
Merchants were those who bought and sold goods, while landowners who sold their own produce were not classed as merchants.
Thus, we can conclude that the above statement is TRUE.
Learn more about International Trade on:
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Answer:
D
Explanation:
The aztecs were ancient/primitive
