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Lady bird [3.3K]
3 years ago
7

On March 15, Viking Office Supply agrees to accept $1,200 in cash along with a $2,800, 60-day, 15 percent note from one of its c

ustomers to settle his $4,000 past-due account. Prepare the March 15 entry for Viking Office Supply by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
Rzqust [24]3 years ago
6 0

Answer:

Cash debit 1,200

Note Receivable debit 2,800

Account Receivable credit 4,000

Explanation:

The accounting will reflect the receipt of cash and the note at their principal.

The interest of the note will ge accrued with the past of time. Currently no interest was earned, so we don't have to post anything related to the interest of the note.

We just write-off the account receivable of the customer and declare how we settle.

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Jason has a Visa credit card and the Annual Percentage Rate is 18%, what is the rate he will be charged interest on per month?
Keith_Richards [23]

Answer:

a. 1.5%

Explanation:

18% for 12 mo

18%/12 mo

1.5%/mo

5 0
3 years ago
what should you do if you do not have or do not believe that you have the proper materials to safely perform your job?
8090 [49]

Request the necessary equipment/materials from your VA supervising practitioner or the unit supervisor in your area when do not believe that you have the proper materials to safely perform your job.

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5 0
1 year ago
The journal entry to record the receipt of a payment within the discount period on a sale of $900 with terms of 2/10, n/30 will
Triss [41]

Answer and Explanation:

Given that

The Sale is made for $900

Terms 2/10, n/30 that means if the payment is made within 10 days than 2% discount is eligible and the total credit period allowed is 30 days

Now the journal entry to record the receipts of a payment within discount period is

Cash Dr $882

Sales discount $18

            To Account receivable $900

(Being the cash received)

3 0
3 years ago
When was the word integer introduced?
svet-max [94.6K]
<span>The origin of the word integer dates back to the early 16th century. Back then, the word was used as an adjective meaning 'entire' or 'whole'. However, the word is composed of two Latin words 'in-' (expressing negation) and the root of 'tangere' (to touch) which were used separately ages before it came together we know it today.</span>
8 0
3 years ago
The office supplies account had a $240 debit balance on december 31, 2016. during 2017, $5,200 of office supplies are purchased.
Trava [24]
If you are looking for the adjusting entry at the end of the year, it would be:

 Office Supplies Expense 5000                Office Supplies 5000

The amount to be recorded is 5000 because:

Beginning supplies is $240

Then there is an additional supplies $5,200

So there is a total of 5,440 supplies.

But the ending inventory is $440.

Deduct the $440 from the $5440 which will give us $5,000. This is to make sure that the amount in the journal entry at the end of the year will be same with the physical count of the supplies.
4 0
3 years ago
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