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larisa [96]
3 years ago
15

Android Products, Inc., agreed to accept a $1,000, one-year, 10 percent note from C. Mate. On its maturity date of December 16,

Mate honors the note by making a payment of $1,100. That payment consisted of the principal of $1,000 plus interest in the amount of $100 (computed as $1,000 × 10%).
Prepare the necessary December 16 entry for Android by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Date General Journal Debt Credit
Dec. 16
Business
1 answer:
arsen [322]3 years ago
3 0

Answer:

                      <em>Android Products, Inc</em><em>.</em>

<em>                             </em><em>Journal Entries</em>

Date         General Journal         Debit       Credit

Dec. 16     Cash                            $1,100

                 Notes Receivable                       $1,000

                Interest Revenue                         $100

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Donna entered bob's department store and went directly to the children's apparel department. therefore, the merchandise to be bo
Aloiza [94]

Donna entered bob's department store and went directly to the children's apparel department. therefore, the merchandise to be bought by donna in the children's department is referred to as  <u>Destination Merchandise.</u>

<u></u>

The noun merchandise refers to anything that can be bought or sold, such as the merchandise sold at your local record store or the merchandise sold by a street vendor in a big city. As you enter the store, you are surrounded by merchandise, including food, clothing, and books.

Merchandise is a term that describes any product that can be sold or purchased. All items sold are commodities. For example, groceries in a supermarket, clothing in a retail store, electronics on a website, or raw materials in a manufacturing warehouse.

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8 0
2 years ago
The cost of goods not yet sold is recorded in the ______ account, whereas the cost of goods that are sold to customers is record
gregori [183]

The answer is inventory account and Cost of goods sold account(COGS) respective to the order of the blanks.

Goods not yet sold means the stock we still have in our inventory. Therefore, the costs related to them will be shown in the inventory account as an asset. As we can recover the cost by selling the goods.

On the other hand, goods sold are included in the sales. Therefore, the costs related to these goods which are sold should be written off and adjusted with the sales account by recording them in the Cost of goods sold (COGS) account

Hence, The cost of goods not yet sold is recorded in the Inventory account, whereas the cost of goods that are sold to customers is recorded in the Cost of goods sold account.

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6 0
2 years ago
Alex bid $24 a share for 500 shares in a Dutch auction for ABC shares of stock. The other bids were $25 for 200 shares, $23 for
Gwar [14]

Answer:

$23

Explanation:

ABC will sell based the lowest bid starting from the highest bid until all the 1,000 shares are allotted downwards as follow:

Number shares to bid of $26 for 100 shares = 100 shares

Number shares to bid pf $25 for 200 shares = 200 shares

Number shares to Alex's bid of $24 for 500 shares = 500 shares

Number shares to bid of $23 for 600 shares = 200 shares

Under Dutch auction, the lowest bid price of all the allotted or successful  bidders will be paid by all the successful bidders.

Since the $23 is the lowest successful bid price,  Alex ad to pay $23 for each share he obtained

6 0
3 years ago
Dmitri loves watching Downton Abbey on his local public TV station, but he never sends any money to support the station during i
Marrrta [24]
B. The private marker can solve this problem by broadcasting Downton Abbey on cable TV, since then the good would excludable and thus no longer a public good.

This would solve the money problem, by making it so that people have to pay to watch, which will generate more income.
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The pecking order states how financing should be raised. In order to avoid asymmetric information problems and misinterpretation
Liula [17]

Answer:

among sus

Explanation:

5 0
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