Answer:
B) Sales discount
Explanation:
For example, company A sells $100 in merchandise to company B on account under the following terms 2/10, n/30. The journal entry to record the initial transaction is:
Dr Accounts receivable 100
Cr Sales revenue 100
If the buyer pays within the discount period, the journal entry should be:
Dr Cash 98
Dr Sales discount 2
Cr Accounts receivable 100
Sales discount is a contra revenue account that lowers sales revenue.
Answer:
b.
Explanation:
Number of components per completed unit.
He should go with his checking account because his savings is way more valuable
Answer:
45.75%
Explanation:
When asking for the utilization of the plant, the question is basically referring to how much of its full potential is the plant currently operating at. Therefore this can be calculated by dividing its current output (4,575) by its maximum output (10,000) like so...
4,575 / 10,000 = 0.4575
Now we multiply that by 100 in order to get the percentage.
0.4575 * 100 = 45.75%
Therefore the current utilization of the plant is 45.75%
Answer and Explanation:
The journal entries are shown below:
On April 8
Cash $9,120
Credit card expense $380 ($9,500 × 0.04)
To Sales $9,500
(Being sale is recorded)
Costs of goods sold $7,021
To Merchandise inventory $7,021
(Being the cost of goods sold is recorded)
On April 12
Cash $7,215
Credit card expense $185 ($7,400 × 2.5%)
To Sales $7,400
(Being sale is recorded)
Costs of goods sold $4,795
To Merchandise inventory $4,795
(Being the cost of goods sold is recorded)
