Answer:
Betty Incorporated
Journal Entries:
June 3:
DR Inventory $7,100
CR Accounts Payable (North Inc.) $7,100
To record the purchase of goods on account with terms 2/10, n/30.
June 5:
DR Accounts Payable (North Inc.) $2,600
CR Inventory $2,600
To record the return of goods on account.
June 6:
DR Inventory $2,500
CR Accounts Payable (South Corp.) $2,500
To record the purchase of goods on account with terms 2/10, n/30.
June 11:
DR Accounts Payable (North Inc.) $4,500
CR Cash Account $4,410
CR Cash Discount $90
To record the payment of balance owed to North Inc.
June 22:
DR Accounts Payable (South Corp.) $2,500
CR Cash Account $2,500
To record the payment of balance owed to South Corp.
Explanation:
The trade terms 2/10, n/30 mean that both North Inc. and South Corp. offered 2% cash discounts on amount paid by Betty Incorporated if it could settle its bills within 10 days. The net allowed credit days are 30 days, after which Betty Incorporated could be charged interest for late payment. It did not utilize the discount offered by South Corp. as it paid its bills after 16 days instead of within 10 days as stated in the trade terms.
Answer:
Sacagawea Dollar
Explanation:
The famous coin was known as Sacagawea
Answer:
A
Explanation:
In this case the rate that allows you to bring annual disbursements to a single value is the IRR (internal return), in this case 22.64%
Answer:
Dr Treasury Stock 3,800
Cr Cash 3,800
Explanation:
Preparation of the journal entry to Record the purchase of treasury stock.
Based on the information given we were told that the Clothing Company issues 1,000 shares which means that if the company made decision to purchase 100 shares at the amount of $38 per share later in the year the journal entry to Record the purchase of treasury stock will be :
Dr Treasury Stock 3,800
Cr Cash 3,800
(100 Shares x $38.00 per share)
(Being to record the purchase of treasury stock)
Advertising wearout is a term used to describe the wear of an advertising campaign that can even irritate consumers.
<h3>What is advertising wearout?</h3>
It is the loss of effectiveness in the memory of the message or the feeling of irritability before an advertisement by increasing the level of exposure.
It is a consequence of the constant maintenance of the advertisement in the medium that consumers become saturated of seeing the same commercial repeatedly.
Therefore, we can conclude that advertising wearout is a term used to describe the wear of an advertising campaign that can even irritate consumers.
Learn more about advertising here: brainly.com/question/13069627
