Answer:
True
Explanation:
Without the marketing department the business is demolished
Answer:
The journal entry for recording the transaction of transfer is shown below:
Explanation:
The journal entry for recording the transaction of transfer is as follows:
Accounts Payable A/c..............................................Dr $12,000
Purchases Returns and Allowances A/c..................Cr $12,000
Being record the transfer of goods which were purchased earlier
When the purchase was made, this would be passed or recorded as:
Purchase A/c.................................................Dr XXXX
Accounts Payable A/c..............................Cr XXXX
Being purchase recorded
So, when some of the purchase is returned, then the accounts payable account is debited against the account of Purchases Returns and Allowances with the amount of purchase return.
Low financial literacy, because if he had a higher understanding of how choices work he would put a bit more effort into finding a lower-priced one, spending a bit more time as a trade-off for being able to spend more of his money later.