Answer: $1,700
Explanation:
The expected winning bid is the weighted average of the 2 different bids.
Half of the bids are for $1,500 so weight of $1,500 is 0.5.
Half of the bids are for $1,900 so weight of $1,900 is 0.5.
Expected Winning bid = (1,500 * 0.5) + ( 1,900 * 0.5)
= 750 + 950
= $1,700
A trend in buisness is to invest
Answer:
We give our friend 437.5 dollars
Explanation:
We have to discount from 500 dollar the interest over time, as the 500 is the value our friend will return in 4 weeks ( a month) not the amount received Hence:
nominal x discount rate x time = discount
being rate and time in the same metric
rate is annual so we express time in portion of a year
500 x -1.5 x 1/12 = -62,5
We have to discount 62.5 dollar from the nominal
nominal less discount = present value
500 - 62.5 = 437.5
On November 21, Civic Company received $550 from customers in payment of their accounts. The journal entry to record this transaction will include a credit to accounts receivable.
<h3>What is meant by account receivable?</h3>
- The money clients owe your business for goods or services for which invoices have been issued is known as accounts receivable. On the balance sheet, current assets are listed as the total amount of all accounts receivable, including bills from clients for goods or services on credit.
- A person who works in accounts payable must ensure that their company receives payments for the goods and services it provides and record these transactions appropriately.
- Trade accounts receivable notes receivable and other receivables are the three categories into which receivables are typically broken down.
On November 21, Civic Company received $550 from customers in payment of their accounts. The journal entry to record this transaction will include a credit to accounts receivable.
To learn more about accounts receivable, refer to:
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