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julia-pushkina [17]
4 years ago
12

Merriweather Post Pavillion received a $820 check from a customer for the balance of accounts due. The transaction was erroneous

ly recorded as a debit to Cash 5280 and a credit to Service Revenue $280. The correcting entry is A. debit Cash, $820, credit Accounts Receivable, $820B. debit Cash $540 and Accounts Receivable, $280, credit Service Revenue, $820C. debit Cash $540 and Service Revenue, $280, credit Accounts Receivable, $820 D. debit Accounts Receivable, $820, credit Cash, S$540 and Service Revenue, $280
Business
1 answer:
Andru [333]4 years ago
7 0

Answer:

C) debit Cash $540 and Service Revenue, $280, credit Accounts Receivable, $820

Explanation:

The correct journal entry should have been:

Dr Cash 820

    Cr Accounts receivable 820

But since the transaction was erroneously recorded as:

Dr Cash 280

    Cr Sales revenue 280

an adjusting entry is necessary for the difference:

Dr Cash 540

Dr Sales revenue 280

    Cr Accounts receivable 820

This way cash account will have increased by $280 + $540 = $820, sales revenue will remain unchanged $280 - $280 = $0, and accounts receivable will decrease by $820.

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When he became the president of Jem Incorporated, John Smith changed the date of the weekly payday from the end of the day on Mo
vladimir2022 [97]

Answer: $1.3 million

Explanation:

Based on the information given in the question, if this change delayed check clearing by 1 week, then the annual savings that were realized will be:

= Weekly payroll × Cost of short term funds

= $10 million × 13%

= $10 million × 0.13

= $1.3 million

Annual savings realized is $1.3 million.

6 0
3 years ago
Which layer communicates with the physical hardware and is responsible for the delivery of signals from the source to the destin
otez555 [7]
<span>The physical hardware and is responsible for the delivery of signals from the source to the destination over a physical communication platform is the data link. The data link allows the layer to communicate in a way that helps everything fall into place.</span>
5 0
3 years ago
A _____ is a business structure of interdependent organizations that reaches from the point of product origin to the consumer, w
Oksi-84 [34.3K]

Answer:

C) marketing channel or channel of distribution

Explanation:

The distribution channel (or marketing channel or downstream supply chain) refers to the chain of businesses that act as intermediaries through which a product or service passes. The distribution channel starts at the producer of the product or service and ends in the final customer.

4 0
3 years ago
Which of the following approaches would be best for gaining more insight into the problem? a. Call managers at other Kroger stor
IgorC [24]

Answer:

(c) Interview customers to get their opinion about the checkout process  

Explanation:

Customers are those who buy goods or receive services from a business owner. Customers may sometimes not be the consumers because the customers may buy from the company and sell to other people to consume. The customers may also be the consumers at times when they consume what they bought. If customers do not buy from the business owners, they won't be consumers, thou consumers are gods in today's market and life wire of any business.Once customers are satisfied with the products and services provided to them by the company, they will continue to patronize the company and never substitute it for another company.Most companies start having problems or loose customers due to  nonsatisfaction of goods and services render by the company. Therefore, interviewing the customers to get their opinion about the checkout process is the best approach for gaining more insight into the problem because they are in the best position to state why they are not patronising the company's product again.

3 0
3 years ago
Imagine that millions of refugees move out of country A and into country X. This would cause the demand for housing in country A
Burka [1]

Answer:

Decrease

Increase

Explanation:

If millions are moving out of a country, the number of people living in the country would fall and the demand for houses would fall. While the demand for houses where the people are immigrating to would increase as population would increase and they would need where to live.

I hope my answer helps you.

4 0
3 years ago
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