1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Viktor [21]
4 years ago
7

Blair Automotive performed mechanic services for two customers. The first customer owed $5,280 for services, so Blair Automotive

made them sign a written promise to pay in full after six months with an annual interest rate of 3.5%. The second customer owed $326 for services, so Blair Automotive plans to send them a bill within the next two weeks, due within 30 days of receipt of the bill. What is the difference between these two transactions
Business
1 answer:
Fiesta28 [93]4 years ago
8 0

Answer:

The first transaction will be recorded as a note receivable, whereas the second transaction will be recorded as an account receivable.

Explanation:

The first transaction is a note recievable which is a credit instrument that requires the debtor to pay interest. The period for repayment bis usually above 30 days. Blair Automotive made the first customer sign a written promise to pay in full after six months with an annual interest rate of 3.5%.

The second transaction is an account recievable which are claims for payment that is raised by a business for delivery of products and services, it is payable within an agreed time frame. Accounts receivable does not attract interest payment. Blair Automotive sends the second customer a bill within the next two weeks, due within 30 days of receipt of the bill.

You might be interested in
A decrease in the availability of an important major resource such as oil shifts can cause
marissa [1.9K]

Answer:

It will bring about a decrease in aggregate supply which is caused by the increase in input prices and it is represented by a shift to the left of the SAS curve because the SAS curve is drawn under the belief that input prices remain constant.

6 0
4 years ago
Mike's Café in June has revenue receipts of $75,000.00. His cost of goods
anzhelika [568]

Answer: <em>30.3%</em>

<em />

<em>This is a simple division problem</em>

<em>First let's take our given value of  </em><em>$75,000</em>

<em>and our other value of </em><em>$22,753</em>

<em>Now we must divide the </em><em>$22,753 </em><em>by </em><em>$75000</em>

<em>22,753/75,000</em>

<em>=</em><em>0.30337</em>

<em>Convert the decimal into a percentage </em>

<em>30.3%</em>

5 0
3 years ago
The following jobs are waiting to be processed at the same machine center. Jobs are logged as they arrive:
Anvisha [2.4K]

Answer:

The average job lateness for the sequence developed is 328 days

Explanation:

Given that the initial work day is base on day 275, the following is going to be the new sequence of the given jobs:

Job Due Date

A 318 5

B 317 3

C 320 8

D 327 16

E 364 40

Therefore, the average job lateness is calculated as follows:

(318+317+320+327+364)/5=328 Days

3 0
3 years ago
The general ledger journal entry in the General Fund to record actual expenditures and reversal of the associated encumbrance wo
HACTEHA [7]

Answer:

A credit to Encumbrance Control

Explanation:

In the case when the journal entry is the general fund is recorded and when we have to record the actual expenditure and the reversal of the attached encumbrance so here the encumbrance control should be credited as we have to record the actual expenditure that have incurred also the reversal of attached encumbrance so this account should be credited

8 0
3 years ago
An HR department at a manufacturing firm wants to ensure that applicants for production jobs provide complete information about
givi [52]

Answer: False

Explanation:

While a review of resumé would give some information about the job a physical interview would give a proper insight on the capabilities of the pool of applicants for the job.

So also verbal communication would help you access their strengths and properly allocate them to departments where they would be most efficient if selected.

A resumé wouldn’t give you such opportunities.

5 0
3 years ago
Read 2 more answers
Other questions:
  • Which activity involved in the distribution function of a business concerns the supply of products from the manufacturer to the
    13·1 answer
  • A company uses income from continuing operations to determine whether potentialcommon stock is dilutive or antidilutive, and thi
    8·1 answer
  • Do higher prices lead to increased revenues for a company?a. alwaysb. sometimesc. neverd. only when demand is elastic
    11·1 answer
  • Economists use the word "money" to refer to
    7·1 answer
  • Joe Baker, the runner for a small coffee shop, had a bad habit of helping himself to cash from the deposit on the way to the ban
    10·1 answer
  • According to the cdc the price elasticity of demand for cigarettes is
    7·1 answer
  • If Anna originally invested $5,000 and Caleb invested $1,000 in the business, and the business made a profit of $60,000, how wou
    8·1 answer
  • Who's good a economics?
    11·1 answer
  • Calista works as an IT manager for an engineering firm. When it comes time to replace the company's computers, the firm's presid
    5·1 answer
  • Mark and Riley live in Orlando and decide to open a souvenir shop. They incorporate their shop, Sunshine Gifts, Inc., in the sta
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!