Explanation:
The journal entry is as follows
Notes receivable A/c Dr $11,100
To Sales A/c $11,100
(Being the sales is recorded)
Since the merchandise transaction is done through note receivable so we debited the note receivable account and the transaction is of sale type so the sales account is credited. Both the transactions are recorded at $11,100
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Since this pertains to ethnicities, race and lifestyles, these companies must have targeted the diversity in the U.S population. The diversity is a result of modern technology and modern views of the social norms. Because of this, lifestyles and personalities vary from one person to each other. To a businessman, he must cater to everyone's taste if he wants more profit.
The days in inventory for valley markets is 114
<h3>How to calculate the days in inventory for valley markets ?</h3>
Valley markets has an inventory turnover of 3.2
The capital intensity ratio is 1.9
There are 365 days in a year, the days in inventory for valley markets can be calculated as follows
= 366/3.2
= 114
Hence the days in inventory for valley markets is 114
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