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taurus [48]
3 years ago
10

MacKenzie Company sold $180 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4% servic

e charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be:
a. Debit Cash of $180 and credit Sales $180.
b. Debit Cash of $180 and credit Accounts Receivable-Regional $180.
c. Debit Accounts Receivable-Regional S172.80; debit Credit Card Expense $7.20 and credit Sales $180.
d. Debit Cash $172.80; debit Credit Card Expense $7.20 and credit Sales $180.
e. Debit Cash $172.80 and credit Sales $172.80.
Business
1 answer:
Zigmanuir [339]3 years ago
7 0

Answer:

d. Debit Cash $172.80; debit Credit Card Expense $7.20 and credit Sales $180.

Explanation:

Credit card expense = 180*4% = $7.20

Debit Accounts Receivable—Regional $172.80; debit Credit Card Expense $7.20 and credit Sales $180.

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IgorLugansk [536]
False

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6 0
4 years ago
Weiland Co. shows the following information on its 2016 income statement: sales = $162,500; costs = $80,000; other expenses = $3
wel

Answer:

The 2016 operating cash flow is $56,905

Explanation:

The computation of the operating cash flow is shown below:

Operating cash flow = Sales - costs - other expenses - depreciation expenses  - taxes + depreciation expense

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7 0
3 years ago
The _____________ defines the resources the solution will need to operate satisfactorily.
Aneli [31]

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4 0
4 years ago
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forsale [732]

Answer:

(d) debt; opposite direction

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Bonds could be of various forms such as zero coupon bonds, deep discount bonds, face value bonds etc

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There is an inverse relationship between bond prices and market interest rates.

Reason : This is because if a higher interest rate prevails in the market than the coupon rate offered by the issuer, the issuer will have to reduce the price of it's bonds so as to make them attractive else investors would rather invest in other bonds in the market offering a higher rate of return.

7 0
3 years ago
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3 years ago
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