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alexandr1967 [171]
3 years ago
13

MacKenzie Company sold $620 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 5.0% serv

ice charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be:
Business
1 answer:
amid [387]3 years ago
4 0

Answer:

DR Cash $589  

DR Credit Card expense $31

CR Sales  $620

<em>(To record sales via credit card)</em>

<u>Working</u>

Cash

= 620 * ( 1 - 5%)

= $589

Credit Card Expense

= 620 * 5%

= $31

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In a very strong economy, where the demand for qualified job applicants exceeds the supply, the environmental characteristic of
Nadya [2.5K]

Answer: (C) Resource scarcity

Explanation:

 The resource scarcity is one of the basic economical problem that cause decreasing in the various types of natural resources and various types of basic requirements.

According to the question, the resource scarcity is one of the environmental characteristics and it occur when the demand exceeds as compared to the basic supply and specific requirement. When the consumption are get increased to the basic usage of the requirement.      

 Therefore, Option (C) is correct.

7 0
4 years ago
What is principle of management?
Leona [35]

Answer:

principal of management is Techniques are procedures or methods, which involve a series of steps to be taken to accomplish the desired goals. Principles of management are broad and general guidelines for decision-making behaviour.

3 0
2 years ago
Which business model sells goods or services to buyers who then resell or use them for business purposes?
astra-53 [7]

Answer:

<u>wholesalers, distributors and manufacturers</u>.

Explanation:

The <u>wholesalers, distributors, and manufacturers</u> trade goods or services to consumers, which then resell or utilize them for trading persistence. Resellers purchase goods in a large amount from other companies such as wholesalers, distributors, and manufacturers. Later they trade the singular factors to purchasers, at a favorable cost. Thou won’t gain enough hype throughout reselling. That’s the conventional method of retailing, which we distinguish from most utmost huge mall storehouses autonomous independent online stores.

5 0
3 years ago
Some time ago, julie purchased eleven acres of land costing $36,900. today, that land is valued at $214,800. how long has she ow
KATRIN_1 [288]
The formula is
A=p (1+r)^t
A future value 214800
P current value 36900
R rate of increases 0.06
T time?
We need to solve for t
T=log (A/p)÷log (1+r)
T=log(214,800÷36,900)÷log(1+0.06)
T=30 years
5 0
4 years ago
The following data are for Lily Kay Company. Total sales revenue $250,000 Number of units sold 50,000 units Contribution margin
eduard

Answer:

b. 51,429 units

Explanation:

If x = Number of units

Net Income = Sales Revenue - Variable Cost - Fixed Cost

or

Net Income = Contribution Margin - Fixed Cost

where,

Net Income = $80,000

Contribution Margin per unit = $3.50

Fixed Cost = $100,000

Contribution Margin = Net Income + Fixed Cost

$3.50x = $80,000 + $100,000

$3.50x = $180,000

Dividing the above equation by $3.50 we get

x = $180,000 / $3.50

x = 51,429 units

Hence 51,429 number of units must be sold to generate the net income of $80,000.

3 0
3 years ago
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