Answer:
The issue is whether Joe is liable to pay for Bob to Avarice Bank or not.
Joe should prevail.
Explanation:
The original contract is between bank and Bob and in that contract Joe is not involved. Secondly payment on someone' behalf always has to be a written contract.
According to UCC, suretyships have to be written for them to be enforceable. This is mentioned in Statute of Frauds. It clearly states that any gurantee by thrid party for payment of debts has to be in writing.
if a merchandiser records a debit to accounts receivable and a credit to sales revenue, they have most likely Credit sales recorded.
We have accounts receivable as an asset account and the sales have already been made. Sales revenue has been generated and will be credited to accounts receivable. Sales revenue is a source of income, and accounts receivable are sources of assets.
Some credit sales have clauses, such as interest income clauses, that state that if a payment is not made, an amount will be received after a certain amount of time has passed.
Credit sales are transactions in which the outstanding balance will be paid at a later time. In other words, credit sales refer to transactions in which customers make purchases but do not pay in full, in cash, at the time of the transaction.
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Answer: net exports
Explanation:
Balance of payment simply shows the estimation of the inflows and outflow of a nation's money for a certain year. It should be noted that current account of the balance of payment consists of three main components which are the trade in Goods, the trade in services, and the transfer payments.
The trade in goods is segregated into imports and export. This therefore makes the net exports volatile and vital because it has higher share in a current account.
Answer:
B. $10,000 is recorded as an expense.
Explanation:
When bonds are issued, the costs associated with it should be treated as a one-time expense, thus, for government-wide financial statements, debt issuance costs should be recorded as a $10,000 expense in the first year instead of being broken into parts to be paid every year.
Answer:
$9.75
Explanation:
the contribution margin of product J = $23.70 - $15.65 = $8.05
the contribution margin of product D = $43.65 - ($9.75 + $15.65) = $18.25
the differential cost of producing product D is equal to the additional cost incurred by further processing product J = $9.75
differential costs or expenses are the difference in costs resulting from choosing one activity over another, or like in this case, further processing one product into another.