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andre [41]
3 years ago
11

Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit card in charging purchases. Z-Mar

t assesses a per-month interest fee for any unpaid balance on its store credit card at each month-end. Apr. 30 Z-Mart sold merchandise for $1,000 (that had cost $650) and accepted the customer’s Z-Mart store credit card. May 31 Z-Mart recorded $4 of interest earned from its store credit card as of this month-end. Prepare journal entries to record the above selected credit card transactions of Z-Mart.
Business
1 answer:
Nataly_w [17]3 years ago
7 0

Answer:

Following are the journal entries

Explanation:

Z-mart uses perpetual inventory system. To enter the selected credit card transactions, the journal entries are;

No Date General Journal       Debit                    Credit

1 Apr 30 Accounts receivable 1000  

                  Sales                                        1000

   

2 Apr 30     Cost of goods sold    650  

              Merchandise inventory                 650

   

3 May 31       Accounts receivable 4  

                Interest revenue                           4

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Answer:

The answer is D. Puffery.

Explanation: When an advertisement is being made, certain boastful and exaggerated claims can be made by a company about the superiority and uniqueness of their product.

This claim is termed as Puffery.

Puffery is defined as advertising or promotional content that makes exaggerated or boastful statements about a product or service that are based on opinion rather than something that can be measured.

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3 years ago
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When does allocative efficiency​ occur?
kobusy [5.1K]

Answer:

D. Allocative efficiency occurs when production is in accordance with consumer preferences.

Explanation:

Allocative efficiency occurs where price equals marginal cost. Price equals the amount consumers willingly pay for a product, so allocative efficiency occurs where marginal utility = marginal cost

3 0
3 years ago
Those who are working are defined as_____ (one word) and those who are not working but actively seeking work are defined as____
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Those who're running are described as hired and people who aren't running however actively in search of paintings are described as unemployed.

The required details for Unemployment in given paragraph

Unemployment, in keeping with the OECD now no longer being in paid employment or self-employment however presently to be had for paintings all through the reference period. Unemployment is measured through the unemployment rate, that's the range of those who are unemployed as a percent of the hard work force (the overall range of humans hired introduced to the ones unemployed). Unemployment and the fame of the financial system may be stimulated through a rustic thru, for example, financial policy. Furthermore, the financial authority of a rustic, along with the relevant bank, can have an impact on the supply and price for cash thru its financial policy. In addition to theories of unemployment, some categorizations of unemployment are used for extra precisely modelling the consequences of unemployment within side the financial system. Some of the principle styles of unemployment include structural unemployment, frictional unemployment, cyclical unemployment, involuntary unemployment and classical unemployment.

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8 0
1 year ago
Keys Corporation's 5-year bonds yield 5.10% and 5-year T-bonds yield 4.40%. The real risk-
alexdok [17]

Answer:

.20

Explanation:

=> r(corp) = rf + ip + Ip + drp + mrp , so 5.10% = 2.50% + 1.50% + 0.50% + drp + [(5-1) * 0.1]%, now solving the equation for drp, we get = 5.10 - 2.50 -1.50 -0.50 - 0.4 = 0.20%

4 0
3 years ago
Two people apply for loans of the same amount. Due to differences in their credit scores, their payments differ by $72 per month
Vlada [557]

Answer:

$2592

Explanation:

Let the amount of loan applied for by both person be $x and $y respectively. If their loan differs by $72 each month, the second person would have applied for $(x+72) each month.

Amount applied by first person will be $x at the end of first month

Amount applied by second person will be $(x+72) at the end of first month

At the end of 36 months, the amount applied for by the first man will be $36x

At the end of 36 months, the amount applied for by the second man will be $36(x+72)

First person 'x' =$36x

Second person 'y' = $36(x+72)

If x pays $36x

y will pay $(36x+2592)

Their difference will become

$36x+$2592-$36x

= $2592

The person with the lower credit score will pay $2592 at the end of the 36-month loan

5 0
4 years ago
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