The appropriate journal entry to record the transactions is: Debit Cash $7,840; Debit Sales discount $160; Credit Account receivable $8,000.
<h3 /><h3>Journal entry</h3>
The correct entry to record the transaction is:
November 17
Debit Cash $7,840
(98%×$8000)
Debit Sales discount $160
(2%×$8000)
Credit Account receivable $8,000
Therefore the appropriate journal entry to record the transactions is: Debit Cash $7,840; Debit Sales discount $160; Credit Account receivable $8,000.
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Explanation:
The adjusting entry is as follows
Accrued interest expense Dr $124
To Interest payable $124
(Being the accrued interest expense is recorded)
The computation is shown below:
= Borrowed amount × interest rate × given months ÷ total number of months in a year
= $6,200 × 12% × 2 months ÷ 12 months
= $124
Answer:
Reject Order Accept order Net Income
Increase (Decrease)
Revenues = $0 $105,000 $105,000
(3750 units x $28)
Costs-Manufacturing = $0 -$71,250 -$71,250
(3750 units x $19 (VC)
)
Shipping $0 -$3,750 -$3,750
(3750 units x $1)
Net Income $0 $30,000 $30,000
Pharoah Electronic would realize the net Income of $30,000 by accepting the special order. Hence, the special order should be accepted.
Answer:
O Speed.
Explanation:
An accountant is someone who keeps an account of the financial records of a person or a business. They are responsible for performing accounting functions such as analyzing accounts, auditing, and reporting the financial transactions of a person or a business.
Among the various skills needed to be an accountant, speed is not one of them. Communication, be it oral or written is one important aspect of the requirement while time management and critical thinking are also important aspects of an accountant.
Thus, the correct answer is the third option.
