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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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Answer:

B.

Explanation:

We are analizing events that are dependant. Cause and effect.

So let's analize the statements.

A. Not related at all. No cause and effect. Can happen together, but not related.

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C. Not related at all. No cause and effect. Can happen together, but not related.

D. Not related at all. No cause and effect. Can happen together, but not related.

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An estimated three-quarters of what product sold in naples originate in the black market?
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A ________ consists of selecting a segment of the market as the company's target market and designing the proper "mix" of produc
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3 years ago
You are bullish on Telecom stock. The current market price is $250 per share, and you have $20,000 of your own to invest. You bo
sergiy2304 [10]

Answer:

The rate of return on the investment if the price fall by 7% next year is -22% which is shown below.

The price of Telecom would have to fall by $71.43($250-$178.57), before a margin call could be placed.

Lastly,if the price fall immediately,the margin price would $178.57 as shown below

Explanation:

Total shares bought=$40000/$250=160 shares

Interest on amount borrowed=8%*$20000=$1600

When the price falls by 7% the new price =$250(1-0.07)=$232.50

Hence rate of return=(New price*number of shares-Interest-total investment)/initial investor's funds

=($232.50*160-$40000-$1600)/$20000=-22%

Initial margin=investor's money/total investment=$20000/$40000=50%

maintenance  margin=30%

Margin call price=Current price x (1- initial margin)/ (1- maintenance margin)

                           =$250*(1-0.5)/(1-0.3)

                           =$178.57

8 0
3 years ago
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