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ira [324]
4 years ago
14

Return to Problem Navigation Morgan Company uses the perpetual inventory system and the gross method of recording sales discount

s. Morgan Company sold $60,000 of merchandise to Jameson Inc. on May 10, 20Y8, with credit terms of 2/10, n/30. The cost of the merchandise sold was 45,000. Assume Jameson pays within the discount period on May 19. When recording the journal entry to record the payment received, what amount is credited to Accounts Receivable
Business
1 answer:
Ghella [55]4 years ago
6 0

Amount to be recorded for accounts receivable would be $15000.

<u>Explanation:</u>

Accounts receivable are lawfully enforceable cases for installment held by a business for products provided as well as administrations rendered that clients/customers have requested yet not paid for. These are for the most part as solicitations raised by a business and conveyed to the client for installment inside a concurred time span.

Accounts receivable (AR) is the balance of money due to a firm for goods or services delivered or used but not yet paid for by  the customers till now. So they will go in the accounts to still be receivable.

You might be interested in
Describe the three levels of selectivity. Describe an example for each.
Oksi-84 [34.3K]

Hi, you've asked an unclear question. However, I assume you're referring to levels of college selectivity.

Three levels of selectivity (college selectivity) are:

Most selective

Extremely selective

Very selective

Most selective: Colleges with this level of selectivity are said to accept fewer than 15% of all applicants, examples include, Harvard University, Johns Hopkins University, Stanford University

, Massachusetts Institute of Technology.

Extremely selective: Colleges with this level of selectivity are said to accept fewer than 35% of all applicants. Institutions under this category include Boston University, New York University, Georgia Institute of Technology, etc.

Very selective: The Colleges under this category accept fewer than 50% of all applicants. Examples are George Washington University, Kenyon College, Lafayette College,

North Carolina State University, etc.

These are some of the selectivity levels, you could find more Information from other online resources.

4 0
3 years ago
For seasonal​ products, the service level should be set to equal A. overage cost​ / (overage cost​ + shortage​ cost). B. shortag
adoni [48]

Answer:

C. shortage cost​ / (overage cost​ + shortage​ cost).

Explanation:

For computing the service level for the seasonal products, we divide the shortage cost to the overage cost plus shortage cost.  

The overage cost is that cost which is incurred for ordering excess inventory which is not required for the present level of production level. It is a loss for the company.  

And, the shortage cost is that cost in which the company has no stock in their warehouse through which it impacts the business image and the goodwill. The company's customers will go to another company which results in the loss of the company customers.

For service level, we added the overage cost and shortage cost in the denominator side

So, the correct option is c.

4 0
3 years ago
According to a study done by a university​ student, the probability a randomly selected individual will not cover his or her mou
Nonamiya [84]

a.) The required probability is 0.1655.

b.) The required probability is 0.4752.

c.) The required probability is 0.9004.

Solution is attached.

5 0
3 years ago
Implementing and executing strategy successfully requires Implementing and executing strategy successfully requires:____________
dolphi86 [110]

Answer: C. . the efforts of a company's whole management team, not just a few senior managers

Explanation:

Planning, implementing and carrying out strategies requires a careful, collective and calculative decision to be made by all head of department and the board of an organization, because the decision taken will rub off through these departments for implementation. The decision or choice of decision should not be left to a few persons in the organization because when the ideas and plans are arranged the execution may fail as all the respective department were not involved by their heads.

5 0
3 years ago
A plumber who quits his job in Indianapolis and moves to Orlando where additional plumbers are needed is said to be ____________
harina [27]

Answer:

Frictionally unemployed

Explanation:

Frictional unemployment refers to a type of unemployment that occurs when people are in the process of moving from one job to another job.

Frictional unemployment is also known as search unemployment because it has to do with the time that is spent between jobs when a person is searching for a job, moving from one location to another in search of a job, or transferring from one job to another job.

Based on the explanation above, a plumber who quits his job in Indianapolis and moves to Orlando where additional plumbers are needed is said to be <u>frictionally</u> unemployed. The reason is that the plumber is moving from one job in Indianapolis to another job in Orlando.

4 0
3 years ago
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