Given :
Apr-02 :
Cash = 2700
Sales = 2500
Sales Tax Payable = 200
Apr-03 :
Sales returns and allowances = 250
Apr-04:
Accounts receivable = 1134
Apr-06:
Sales returns and allowances = 150
Answer:
The Journal entries are as follows:
(1)
Cash A/c Dr. $484,087
Discount on Bonds Payable A/c Dr. $15913
To Bonds Payable (a liability account) $500,000
(To record the first semiannual interest payment )
Workings:
Discount on bonds = 500,000 - 484,087
= 15,913
2.
Bonds payable A/c Dr. $200,000
To Cash 200,000
(To record the amortization of any bond discount)
It would be A, since they are practicing efficiency.
Answer:
Daphne must go th Gentry's store to take delivery of the watch.
Explanation:
The UCC represents Uniform Commercial Codes and it is a set of laws regulating how businesses are transacted. It especially affects the transactions of businesses across several states to ease the burden of having to engage with multiple state laws when companies do businesses across state lines.
It can also be called the framework that assists companies to follow a standardized set of laws to transact business irrespective of their different states and the UCC is fully functional across several states of the United States.
The UCC affects Nine areas of business transactions
- General Provisions
- Sales of goods aside from service contracts and real estate
- Negotiable Instruments such as drafts and checks
- Bank activities including collections as wellas deposits
- Credit Letters
- Auctions, asset liquidation and bulk sales
- Title documents such as bills of lading, warehouse receipts
- Investment Securities
- Transactions of consignments, security interests, promissory notes and agricultural liens.
Under the sales of goods UCC, where there is no stated agreement between a buyer and seller on the delivery of a good, then the buyer is obligated to take delivery at the seller's shop
