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elena55 [62]
4 years ago
10

Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upon de

posit of customers' credit card sales receipts. The credit card company receives 3.5 percent of card sales as its fee. Messing has $4,000 in credit card sales on January 1. Prepare the January 1 journal entry for Messing Company by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns
Business
1 answer:
olasank [31]4 years ago
4 0

Answer:

Thee jounal entry for January 1 of Messing Company is done below.

Explanation:

3.5% * 4000 = 140

Date                Account Titles                                                Dr             Cr

Jan 1           Cash                                                                $3,860

                   Credit Card Expense                                        140

                          Sales Revenue                                                           4,000

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andreev551 [17]

Answer:

True

Explanation:

The process model is a model that represents the work flow for achieving the company goals and objectives

In the process model, the effectiveness of an organization would be portrayed by the conflict that occurs internally. It could be the situation when the flow of the information is in a horizontal way and in a vertical way and the functioning of the operations internally is quite smooth and works with trust towards individuals

Therefore the given statement is true

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3 years ago
If speech is merely for amusement, it is a(n) _____ form of speech.
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Answer:

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3 years ago
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On March 1, Retro Inc. reported a balance in Supplies onf $200. During March, the company purchased supplies for $950 and consum
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Answer:

stockholer's equity will be overstated by $800.

Explanation:

The adjustment required is to record $800 of supplies used as an expense, hence, by carrying out the adjustment, net income is overstated by $800 so also retained earnings and shareholders' equity.

In other words,the balance that would be left in supplies is opening balance of $200 plus purchase of supplies which is $950 minus the supplies used.

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Management moving production or other parts of the company's value chain to countries where wages are lower is an example of cost drivers.

<h3>What are cost drivers in business?</h3>

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Hence we can say that management moving production or other parts of the company's value chain to countries where wages are lower is an example of cost drivers.

Read more on cost drivers here: brainly.com/question/14904453

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