I think your answer should be c. Hope this helps. :)
Answer and Explanation:
The journal entry is shown below;
Cash $656,600
Factoring charges (2% of $670,000) $13,400
To Trade Receivables $670,000
(Being recording these receivables)
Here cash and factory charges is debited as it increased the assets and expense while the trade receivable is credited as decreased the assets
Answer:
$1100
Explanation:
Compound Interest is a multiplying effect interest , in which interest for each successive period is calculated on (Principal + Interest) of each preceeding period .
Formula : A = P(1+r/n) power 'nt .
r = Interest rate , t = time , n = compound in time 't' , P = Principal
A = 1000 (1+10/1) power'(1X1) = 1000 X 11 power 1' = 1000 X 11 = 1100
Pay your balance each month and keep a limit
Answer: Equivalent units for conversion = 4870 units
Explanation:
Given that,
Beginning work in process inventory = 300 units
Beginning work in process inventory for conversion = 40% of 300 units
= 120 units
5,000 units were started in December.
Ending work in process = 500 units
Ending work in process inventory for conversion = 50% of 500 units
= 250 units
Units started and completed = 5000 - 500
= 4500 units
Equivalent units for conversion = 4870 units