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Mrrafil [7]
3 years ago
10

Merchandise with a sales price of $5,000 is sold on account with terms 2/10, n/30. The journal entry to record the sale would in

clude a
Business
1 answer:
Savatey [412]3 years ago
8 0

Answer:

Debit to sales discounts for $100

Explanation:

Please see journal entry to record the sales below;

a. Dr accounts receivable $5,00

To sales revenue account $5,000

(Being merchandise that is sold on credit basis)

Suppose payment is made within 10 days, the journal entry will be;

Dr Cash account $4,900

Sales discount account $100

(5,000 × 2%)

To accounts receivable $5,000

(Being cash that is received)

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Soloha48 [4]

Answer:

$ 8500 paid by the university

Explanation:

The dormitory fees are recorded as part of his gross income because it is a payments given to his services rendered which was counseling freshman on campus living. The dormitory fees gotten can be taxed for this reason unlike the scholarships received for tuition, fees, books can be excluded from gross income as they are required for the student courses.

8 0
3 years ago
Suppose that marginal income tax rates are as follows:Income level Marginal tax rate $0–$10,000 10% $10,000–$50,000 20% Greater
Tatiana [17]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

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7 0
3 years ago
Exchange rate shifts that cause the Sing$ to be weaker versus than the Brazilian real:
Luden [163]

Answer:

make the export of footwear from Asia-Pacific plants to Latin America less competitive and give rise to negative/favorable exchange rate cost adjustments.

Explanation:

Exchange rate is defined as the rate at which one currency can be exchanged with another. It determines balance of trade, that is the amount of one countrie's goods that can be exchanged for another one's.

When exchange rate causes Sing$ to be weaker versus than the Brazilian real, it results in more of the Sing$ used to purchase one Brazilian Real.

Export of footwear from Asia-Pacific plants to Latin America will be more expensive, so it will be less competitive.

8 0
3 years ago
To be considered of high quality, a product must: Select one: a. meet high specifications b. meet customers' stated expectations
masha68 [24]

Answer:

D

Explanation:

meet safety standards

4 0
3 years ago
29. Fiona has initiated a project to establish a company website for interactive electronic commerce that encourages customers t
vichka [17]

Answer:

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Explanation:

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3 years ago
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