Answer:
The Journal entry is as follows:
Cash A/c Dr. $2,27,500
Loss on sale of Receivables A/c Dr. $20,500
Due from Commercial Factor A/c Dr. $10,000
To Recourse liability $8,000
To Accounts Receivable $2,50,000
(To record the sale)
Working notes:
Cash received
:
= $250000 - Finance Charge - Amount retained (Due from factor)
= $250000 - 5% of 250000 - 4% of 250000 = 250000 - 12500 - 10000
= $2,27,000
Loss on sale of receivables
:
= ($250000 × 5%) + Recourse obligation (as the factoring is with recourse)
= $12500 + 8000
= $20,800
Quality Control is Essential
Get Prototypes Sorted First
Form Positive Working Relationships
Sorting the Premises
Bankrolling the Business
Understand the Legalities
Answer and Explanation:
The journal entries are shown below:
On Jan 1
Cash $400,000
To Bonds payable $400,000
(Being the bond is issued for cash)
For recording this we debited the cash as it increased the assets and at the same time it increased the liabilities so the bond payable is credited
On July 1
Interest expense $14,000
To Cash $14,000
(Being the payment of interest is recorded)
The computation is shown below:
= $400,000 × 7% × 6 months ÷ 12 months
= $14,000
For recording this we debited the expenses as it increased the expenses and at the same time it decreased the assets so the cash is credited
On Dec 31
Interest expense $14,000
To Interest payable $14,000
(Being the accrual of interest is recorded)
For recording this we debited the expenses as it increased the expenses and at the same time it increased the liabilities so the interest payable is credited
Answer:
product line
Explanation:
The variety of yougurts is an example of product line as yogurts are one of the products sold by the firm along with milk and coffee.
Answer:
<u>Different assessment and goals.</u>
Explanation:
In this issue there is resistance to change related to evaluation and different objectives, as the production manager has made a decision to change production processes in order to increase efficiency, and one of his employees does not believe the idea. This is because there are different perspectives among employees in an organization, resistance to change affects each individual differently and leads them not to support significant changes that will change the process that already exists in the organization. It is usually related to individual beliefs and insecurity to novelties. To break barriers to resistance to change, it is essential that the manager adopt clear and direct communication and present the benefits linked to change.
