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lesya692 [45]
3 years ago
8

A lawyer collected $720 of legal fees in advance. He erroneously debited Cash for $270 and credited Service Revenue for $270. Th

e correcting entry is A. Cash 450 Service Revenue 270 Unearned Service Revenue 720 B. Cash 720 Service Revenue 720 C. Cash 450 Accounts Receivable 270 Unearned Service Revenue 720 D. Cash 450 Accounts Receivable 450
Business
1 answer:
IRISSAK [1]3 years ago
4 0

Answer:

Option C is correct.

The correcting entry is <u>Cash 450 Accounts Receivable 270 Unearned Service Revenue 720</u>

Explanation:

1. Cash received is $ 720 and the amount booked is $ 270,

Hence, Cash Balance of $ 720 - $ 270 which is $ 450 is recorded.

2. Accounts Receivable Account was wrongly credited and hence is debited to reverse the effect.

3. Unearned Service revenue account was not recorded and hence is now recorded.

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Hedge fund is the right answer
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3 years ago
When a US company purchases and imports wood from Brazil to use to build new houses, within the United States, this purchase inc
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Answer:

The correct answer is 2. No overall change.

Explanation:

The aggregate demand is the total goods and services demanded by a country, at a certain price level, in a certain period of time.

The aggregate demand that can be accounted for measures exactly the same as GDP. So they are often used as synonyms.

To calculate aggregate demand, the same methods as for calculating GDP can be used, however, aggregate demand is associated with expenditure, so it is calculated by the product method, that is, from the point of view of what society has spent. This calculation takes into account the expenditure of families (private individuals), what has been spent on investment, the cost of public administrations, and finally, net exports, which is the difference between imports and exports In this way, the Aggregate Demand formula would look like this:

DA = C + I + G + (X-M)

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3 years ago
What statement below best defines "exporting pollution"? When a country decreases its exports, resulting in a lower level of dom
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Answer:

"Exporting pollution" occurs when a country reduces its domestic pollution, but increases imports that cause pollution in other countries.

Explanation:

Exporting pollution is a commercial and environmental process through which the most developed countries send their most polluting companies to produce their goods to underdeveloped countries. These companies, generally industrial, transfer their production of carbon dioxide and other polluting gases to these countries, which receive large employers and economic benefits but in turn accept higher rates of contamination in their territories.

4 0
3 years ago
You are considering purchasing a new automobile that will cost you $28,000. The dealer offers you 4.9% APR financing for 60 mont
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Answer:

so correct option is B) $527

Explanation:

given data

cost = $28,000

offer APR = 4.9 % = \frac{4.9}{12} = 0.0041

time = 60 months

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solution

we will apply here formula for calculate monthly payment  that is

= \frac{r(1+r)^t}{(1+r)^t -1}    ...........1

here r is rate that is 0.0041 and t is time that is 60 put here value we get

=  \frac{0.0041(1+0.0041)^{60}}{(1+0.0041)^{60} -1}

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6 0
3 years ago
Read 2 more answers
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Answer: c) $7,535

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The Average amount is calculated thus;

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6 0
2 years ago
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