1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
LenKa [72]
3 years ago
15

When a purchase on account is made the invoice becomes a debit memo?

Business
1 answer:
I am Lyosha [343]3 years ago
6 0
When a purchase on account is made, the invoice becomes a debit memo. The account receivable is normally documented through invoice which is issued to the customer who is buying on credit. When purchasing on an account, the balance of the invoice becomes a payable, that is, a debt. 
You might be interested in
Stephanie was injured in a car accident was rushed to the emergency room. She received stitches for a facial wound and treatment
vichka [17]

Answer:

Hence,

the amount paid by the Stephanie = $410

The amount covered by PPO = $440

Explanation:

Given:

Percent covered by the insurance = 80%

Annual deductible = $300

Total emergency room bill = $850

Now,

The Coinsurance expenses = Total expenses − Annual deductible

or

The Coinsurance expenses = $850 - $300 = $550

The amount covered by PPO

= Percent covered × Coinsurance expenses

= 0.80 × $550 = $440

Therefore,

the amount paid by the Stephanie

= Annual deductible + (Coinsurance expenses - amount covered by PPO)

= $300 + $550 - $440 = $410

Hence,

the amount paid by the Stephanie = $410

The amount covered by PPO = $440

3 0
3 years ago
Read 2 more answers
If the credit balance of the Allowance for Doubtful Accounts account exceeds the amount of a bad debt being written off, the ent
Firlakuza [10]

Answer:

d.No effect on the expenses of the current period.

Explanation:

In the case when the credit balance of the allowance for doubtful debt more than the bad debt amount i.e. written off

So the entry for writing off against the allowance would result in no effect on the expense for the present period

As the bad debt expense is debited and the allowance for doubtful debt would be credited therefore the option d is correct

4 0
3 years ago
Ground-fault circuit interrupters must be used for all of the following except?
gtnhenbr [62]

Ground-fault circuit interrupters must be used for all of the following except?

A-rooftop

<u>B-any outdoor area </u>

C- where temporary wire is being used

7 0
3 years ago
Is Informative listening a type of casual listening
Vlada [557]

Answer:

Yes.

Explanation:

<em>You are listening to gather intel on a particular individual or set of individuals.</em>

4 0
3 years ago
Career question easy below
Sever21 [200]

Answer:

C is the answer

Explanation:C

8 0
2 years ago
Other questions:
  • LO 4.2Which document lists the inventory that will be removed from the raw materials inventory?
    5·1 answer
  • Darrin’s Auto Northern Division is currently purchasing a part from an outside supplier. The company's Southern Division, which
    11·1 answer
  • Triad Children's Center (TCC), a non-profit organization, uses relevant cost analysis to determine whether new services are desi
    11·1 answer
  • Free market economies distribute goods and services than command economies.
    11·1 answer
  • _____ is an important part of the interview process. It allows you to consider how you did in the interview, examining your stro
    11·2 answers
  • The expected return on a riskless asset is greater than zero due to A. an expected return for delaying consumption. B. irrationa
    12·1 answer
  • On January 1, 2021, Ivanhoe Corporation signed a 10-year noncancelable lease for certain machinery. The terms of the lease calle
    10·1 answer
  • The Federal Deposit Insurance Corporation (FDIC) insure account holder’s accounts for up to ___.
    15·1 answer
  • An investor is in the 28 percent federal tax bracket and pays a 9 percent state tax rate and 4 percent in local income taxes. Fo
    6·1 answer
  • 73 points I will give if you like and comment 73 points
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!