Answer : you can use google for this question
Answer: See explanation
Explanation:
Rhe journal entry will be recorded as:
a. March 2:
Debit: Accounts Receivable = 928800
Credit: Sales = 928800
Debit: Cost of Goods Sold = 511500
Credit: Merchandise Inventory = 511500
b. March 6:
Debit: Sales Returns and Allowances = 108400
Credit: Accounts Receivable = 108400
Debit: Merchandise Inventory = 60800
Credit: Cost of Goods Sold = 60800
c. March 12:
Debit: Cash = 803992
Debit: Sales discount = 820400 × 2% = 16408
Credit: Account receivable = 820400
A thank-you note with a business
card enclosed or an e-mail saying how glad you were to meet someone are
examples of contact follow - up. The answer is letter B. It is another way of
saying that the person is interested to the giver of contact.
Answer:
<h2>
Hennigan Rentals:</h2>
Hennigan is owed $175 from its customers on December 31.
Explanation:
Accounts Receivable
Date Description Debit Credit Balance
Dec. 8 Cash $75 ($75)
Dec. 20 Earned Rentals $750 $675
Dec. 31 Cash $500 $175
When a rental company accepts payment in advance of its service, it increases the cash balance and reduces the Accounts Receivable. In the same way, when cash is received for services already rendered and invoiced, the cash balance is increased and the Accounts Receivable reduced by the same amount.
Accounts Receivable represents the total amount owed to a company resulting from the provision of goods and services on credit. The balance forms part of the current assets in the company's balance sheet.
A journal entry for a sale on account debits account receivable and credits revenue account. When the customer pays on account, cash is debited while the accounts receivable is credited. At the end of the period, the account is balanced.
Answer:
$110,692
Explanation:
To determine the cost of the equipment that Starcents purchased, we must find the present value of its cash flows:
- Cash flow year 1 $10,000
- Cash flow year 2 $10,000
- Cash flow year 3 $10,000 + $100,000 = $110,000
the discount rate is 6%
equipment purchase cost = ($10,000 / 1.06) + ($10,000 / 1.06²) + ($110,000 / 1.06³) = $9,434 + $8.900 + $92,358 = $110,692