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dusya [7]
3 years ago
15

Joe needs display racks and cabinets to open his clothing store, but he doesn't have the money to pay for them right away. A sup

plier agrees to sell Joe the necessary equipment, lets him have them immediately, and allows Joe to pay for the goods over a six-month period. This is an example of_______________.
a. equity financing.
b. an initial public offering.
c. a mortgage.
d. venture capital.
e. a trade credit.
Business
1 answer:
zhuklara [117]3 years ago
5 0

Answer:

The correct answer is letter "E": a trade credit.

Explanation:

Trade credit implies a customer buying products from a seller that helps the purchaser to later pay for the goods. Essentially, the seller provides the buyer with a short-term loan. Typical terms of trade credit must be charged for <em>30 days</em>, but may also be <em>45, 60, 90, </em>or <em>180 days</em> in some situations.

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On January 1, 2022, Austin Company received a 12-month, $100,000 note with a stated rate of 7%. On April 30, 2022, Austin discou
Olin [163]

Answer:

$101,293

Explanation:

$100,000 face amount + $7,000 interest to maturity ($100,000 x 7%) = maturity value less the discount for the time remaining to maturity of $5,707 ($107,000 x 8% x 8/12) = $101,293

8 0
2 years ago
When iTunes sells a song or movie, it must record the transaction in accounts. Which accounts might iTunes use when it sells a s
Kay [80]

Since the actual process of the transaction is instantaneous, and its takes the money directly out of your account, the account they're dealing with is most likely Revenue.

Accounts Receivable is also another option that may come to mind, but remember that in this account, the seller is waiting for payment. Once the responsible party pays the seller, A/R is credited (decreased) and Revenue is debited (increased).

With iTunes (as stated previously), the transaction happens right then and there. We pay cash and iTunes gives us the song/movie/album/etc. Therefore, the only logical answer would be <u>Revenue</u>. In this case, <em>Sales Revenue</em> since we're dealing with a type of retailer and not a service.

7 0
3 years ago
Rina is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Rin
White raven [17]

Answer:

The answer is: B) People face trade-offs

Explanation:

A trade-off happens when you have to balance two (or three in this case) opposing situations.

Rina has to decide how to divide the time she can spend training. If she chooses to do one activity, she can´t do the other. So she has to balance the time spent on each activity, probably depending on which sport she needs to train the most.

8 0
3 years ago
Prepare Journal Entries in a Purchases Journal
kenny6666 [7]

Answer:

Explanation:

DATE Account AccountsPayable OfficeSupplies OtherAccounts

         Credited         credit                   debit                  debit

Apr. 4  Officemate    $620                 $610                 no entry

Apr. 9  Tek Village    $2,460                                       $2,460

Apr. 16Officemate     $170                   $170                  no entry

Apr. 19  Paper to Go $250                 $250                 no entry

Apr. 30 Total          $3,500                 $1050                $2,460

b. Total amount posted / credited to accounts payable=  $( 620+2,460 + $170 + 250) = $3500

Total amount from and debited from Office supplies = $(610 + 170+ 250) = $1050

What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?

$ __170____ ie $ 610 + 170 - 610( because invoice on April 4th was paid on April 27th.

8 0
3 years ago
Using mental math, the approximate tip to leave for a bill of $81. 79, if you tip 15% would be _____. A. $8. 20 b. $10. 30 c. $1
nordsb [41]

The approximate tip for a bill of $81.79 would be $12.30 when the tip is 15% of the bill amount.

<h3>How to calculate tip amount?</h3>

Tip is the extra amount paid over a bill for the services provided by the staff. The tip when calculated as a percentage over the bill, the percentage rate is to be multiplied by the bill amount.

Given:

\rm Bill\:amount = \$81.79\\\\Rate\:of\:tip = 15\%

The amount of tip will be calculated by calculating 15% of the bill amount.

\begin{aligned} \rm Amount \:of \:tip &= \$81.79 \times 15\%\\\\&= \$81.79 \times \dfrac{15}{100}\\\\&= \$12.2685 \end

The approximate value of tip will be $12.30.

Therefore, option c is correct.

Learn more about the topic here:

brainly.com/question/2153680

7 0
2 years ago
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