The following statements more accurately describe the transactions:
- The first transaction records the sale of accounts receivable to a factor, whereas the second transaction records a sale that was paid using a national credit card.
- The journal entry for the sale of receivables to a factor requires a debit to Cash (asset), a debit to Service Charge Expense (stockholders' equity), and a credit to Accounts Receivable (asset). Therefore, it affects two asset accounts and one stockholders' equity account. In contrast, the journal entry for a sale paid with a national credit card requires a debit to Cash (asset), a debit to Service Charge Expense (stockholders' equity), and a credit to Sales Revenue (stockholders' equity). Therefore, it affects one asset account and two stockholders' equity accounts. A sale made with a store credit card does not dispose of accounts receivable; instead, it increases Accounts Receivable and increases Sales Revenue.
<u>Explanation</u>:
The assets owned by the company are recorded in the form of account known as <u>asset account</u>. Capital expenditures are debited to an asset account, and the expenditure is said to be capitalized. If the owner of the business increases the assets amount, the asset account will also be increased.
<u>Equity account</u> illustrates the financial representation of the ownership of a business. The payment made by the owner to the business or the earnings that are generated by the business are considered as equity. As the equity funds come from different sources, the equity is stored in multiple types of accounts.
Answer:
$1,150 worth of items
Explanation:
Given that,
Club offers membership = $115
Discount of all brand name purchase = 10%
Therefore, to cover the cost of membership,
You would have to purchase = 115 ÷ 0.10
= 1,150.
So, you have to buy items worth $1,150 to cover the cost of the membership.
Note that,
Discounts are a reduction in the original cost of a commodity, usually done in order to attract customers.
Answer:
Green marketing.
Explanation:
Green marketing is promotion and selling of products that are environmental friendly. The product should be produced in an envimentally friendly process and should be sustainable. As is seen in the example of Fresnas Inc, they are using recycling as a sustainable environment friendly process to produce goods, while making more profit.
<span>The economic cost to society of speeding-related crashes is estimated by the nhtsa to be $40.4 billion per year. Day by day these motor vehicle crashes are increasing. To reduce this care should be taken and everyone should follow the traffic signals properly.</span>
B) $70,880..........................
