That city has <span>purchase money security interest.
</span><span>purchase money security interest refers to a type of claiming rights that enables lender to make acquistion towards a certain asset in higher priority than other creditors. This type of rights is really important to secure the lender's profit in case the borrowers fail to return the credit (or went bankrupt)</span>
Answer:
increase total assets by $1,300.
Explanation:
The net effect is shown below
The first entry is
Cost of goods sold Dr $2,300
To Merchandise Inventory $2,300
(Being the cost of inventory is recorded)
Now the second entry is
Account receivable Dr 3,600
To Sales revenue 3,600
(Being the sales is recorded)
Now the net effect is
= 3,600 - 2,300
= 1,300
This 1,300 reflect the increase in the total assets
Days of sales outstanding = 40.29 days
365 x Account receivable/Net sales
= 365 × 3400/30800 = 40.29 days
Net sales is the sum of a company's gross sales minus returns, rebates, and rebates. Calculating net sales is not always transparent to the outside world.
Gross sales do not include deductions, but net sales include all expenses incurred during the sales process.
In business and accounting, net income is a company's income less the cost of sales, expenses, depreciation, interest, and taxes for the accounting period.
Learn more about Net sales here: brainly.com/question/25623677
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Answer:
False
Explanation:
This statement is false because operation strategy is ever changing, continually revised, reviewed and coordinated with new and latest evolving corporate strategies which will ensure efficiency and productivity remains at it peak.
