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choli [55]
3 years ago
8

During January 2016, Wells Corporation purchased $200,000 of inventory; they paid one-fourth in cash, and signed a note for the

remaining balance. This transaction will be recorded as:
Business
1 answer:
ivanzaharov [21]3 years ago
3 0

Answer:

Inventory                        $200,000    

Cash                                                      $50,000

Notes payable                                      $150,000

Explanation:

Data provided in the question:

Cost of the inventory purchased = $200,000

Amount paid in cash =  one-fourth

= one-fourth of $200,000

= $50,000

For the remaining balance signed a note i.e = $200,000 - $50,000

= $150,000

Now,

This transaction will be recorded as:

Inventory                        $200,000    

Cash                                                      $50,000

Notes payable                                      $150,000

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Suppose you were assigned the task of choosing a price that maximized economic surplus. What price would you​ choose? ​ Why? A.
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On December 31, 2018, the balance in Megan's Products Accounts Receivable was $680,000 and net credit sales amounted to $3,800,0
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