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Mashcka [7]
3 years ago
5

Michael's Yoga Studio have been entering bills for their purchases as they come in. They pay multiple bills once a week. They us

e Bank Feeds to record these transactions, posting to Cost of Goods Sold. They are an accrual-based company. What is best practice to remedy this with a minimum amount of work
Business
2 answers:
Tasya [4]3 years ago
4 0

Answer: They could either use the Income and expenditure  or purchases  journal too.

Explanation:  Because its a Yoga Studio,  lots of expenses will be made  and appropriate postings are to be entered on time.

Tom [10]3 years ago
3 0

Answer:

By using the purchase journal.

Explanation:

A purchase journal is an accounting journal used to keep record of items ordered through the use of account payable. Simply put, a purchase journal is the primary entry book used in recording credit transactions.

A purchases journal is the record of every acquisition made on credit at a particular period. It is a journal used for tracking the requests placed using accounts payable or vendor credit including the current balance indebted each vendor.

A purchase journal has different columns for recording the date, vendor's name, invoice number, invoice date, particulars, vendor's account, credit terms, and total.

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Maintaining ___________ involves producing what the customer wants while reducing errors before and after delivery to the custom
earnstyle [38]

Answer:

Quality

Explanation:

In business terms the quality is the level of service or product meets the customer's expectation. Customer want a good quality product or service in a competitive price. Some customers can compromise on the price factor but they require high quality without any error or defect. So, producing what customer wants is called Quality.

5 0
3 years ago
Read 2 more answers
What is a sole proprietorship? A partnership? (essential elements) How is each entity taxed? What is a franchise? What is the "c
natita [175]

Answer:

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Explanation:

6 0
3 years ago
Buffalo Corporation purchased warehouse shelving for $96,000, terms 1/10, n/30. At the purchase date, Buffalo intended to take t
Murrr4er [49]

Answer:

Office Equipment (Debit)                  96,000

Accounts Payable (Credit)                96,000

Explanation:

Buffalo Corporation should have made the above stated entry. As the equipment is supposed to start depreciation from the date of purchase (when the asset is available for use as intended by management). Since the corporation intended to take the discount by paying early within the number of days allowed so upon payment the following entry should be made.

Accounts Payable (Debit)                             96,000

Purchase Discount Income (Credit)                9,600

Cash (Credit)                                                  86,400

4 0
2 years ago
quizlet When a borrower defaults on a mortgage, which one of the following statements does NOT apply? The property will be sold
ohaa [14]

power of sale clause

What is borrower defaults?

Any default under or breach of any such agreement or instrument is referred to as a borrower default. This includes any default or event of default as defined in any agreement or instrument evidencing, governing, or issued in connection with lender Indebtedness, including but not limited to the Credit Agreement. Any situation or event that, upon giving notice, passing of time, or both, would, unless corrected or waived, become a borrower event of default is referred to as a borrower default. If the borrower fails to pay back any advances when they are due or if legal action is taken to appoint a receiver, trustee, liquidator, or custodian of the borrower or of all or a major portion of it, a borrower default is said to have taken place.

Learn more about borrower defaults with the help of given link:-

brainly.com/question/25662015

#SPJ4

8 0
2 years ago
Sheridan Company has several outdated computers that cost a total of $18200 and could be sold as scrap for $6200. They could be
sveticcg [70]

Answer:

$18200

Explanation:

Sunk cost is cost that has already been incurred and cannot be recovered. It should not be considered when making future decisions.

The computers costs $18200. This amount has already been incurred and it cannot be recovered.

8 0
2 years ago
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