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xxTIMURxx [149]
1 year ago
7

if a merchandiser records a debit to accounts receivable and a credit to sales revenue, they have most likely

Business
1 answer:
Elden [556K]1 year ago
8 0

if a merchandiser records a debit to accounts receivable and a credit to sales revenue, they have most likely Credit sales recorded.

We have accounts receivable as an asset account and the sales have already been made. Sales revenue has been generated and will be credited to accounts receivable. Sales revenue is a source of income, and accounts receivable are sources of assets.

Some credit sales have clauses, such as interest income clauses, that state that if a payment is not made, an amount will be received after a certain amount of time has passed.

Credit sales are transactions in which the outstanding balance will be paid at a later time. In other words, credit sales refer to transactions in which customers make purchases but do not pay in full, in cash, at the time of the transaction.

learn more about sales revenue here

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Dave is a close-up magician who is famous for his card tricks. He creates and sells DVDs of his magic tricks. Lately he has been
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Answer:

inbound logistics.

Explanation:

Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.

The fundamental principle of supply chain management is the complete collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing producer), a wholesaler, and a retailer who typically sells the products to the customers or consumers.

Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.

In this scenario, Dave creates and sells DVDs of his magic tricks.

Lately, Dave has been having some trouble getting his DVDs produced in a timely manner. Thus, of the five (5) primary activities in the value chain, this problem of not producing goods (DVDs) as at when needed by the viewers (end users) is most likely to occur in inbound logistics.

An inbound logistics can be defined as a supply process which relates with receiving, storing or warehousing of raw materials and the distribution of inventory internally.

5 0
3 years ago
Jack’s Snow Removal Company received a cash advance of $14,700 on December 1, Year 1 to provide services during the months of De
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Answer:

d. increase equity by $4,900

Explanation:

Jack Snow received $14,700 on December 1 for services to be rendered in December, January and February. It will not be recorded as income because it hasn't been earned.

Adjusting entries will be passed at the end of each month to recognise amount earned.

Since it is for 3 months, monthly amount earned = 14,700/3= $4,900

At December 31 Retained earnings will be credited for $4,900.

Retained earnings is part of owner's equity.

So equity will increase by $4,900

8 0
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In the given case, Caroline is researching and recommending the actions that should be taken for maximizing the profit.

Hence from the above we can conclude that Caroline is performing prescriptive role.

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