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
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.

You might be interested in
The growth-share matrix defines four types of sbus: __________ are low-growth, high-share businesses or products.
mafiozo [28]

The growth-share matrix defines four types of sbus: Cash cows are low-growth, high-share businesses or products.

Each of the four quadrants represents a particular combination of relative market share, and growth: Low Growth, High Share High Growth, High Share. Stars are high-growth, high –share businesses or products.

They often need heavy investments to finance their zoom. The market rate varies from industry to industry but usually shows a cut-off point of 10% – growth rates more than 10% are considered high, while growth rates below 10% are considered low.

Low market share business is a smaller amount than half the industry leader's share, and successful companies are those whose five-year average return on equity surpasses the industry median.

Growth-share business matrix may be a business tool, which uses relative market share and industry rate of growth factors to guage the potential of business brand portfolio and suggest further investment strategies.

The BCG matrix relies on Industry rate and relative market share. BCG matrix may be a framework created by Boston Consulting Group to guage the strategic position of the business brand portfolio and its potential.

learn more about share business: brainly.com/question/24448358

#SPJ4

8 0
2 years ago
True true or false increasing RAM, a computer's CPU can process more quickly
Airida [17]
This would be a true statement

5 0
3 years ago
Siblings are considered "family" under the stock attribution rules that apply to stock redemptions.
harina [27]

Answer:

false

there is no ownership atribution between siblings, cousins, or a mother-in-law and son-in-law

4 0
3 years ago
Assume the company is considering a reduction in the selling price by $10 per unit and an increase in advertising budget by $5,0
koban [17]

Answer:

Explanation:

New selling price = $110 - $10

                             = $100

New sales level = 1,000 units x 150%

                          = 1,500 units  

Net operating income = 1,500 units × Selling price of $100 per unit - 1,500 units × variable expense of $60 per unit - $30,000 + $5,000

                                    = $25,000

Therefore, the net operating income after the changes is $25,000.

7 0
3 years ago
3) Monopolists set prices A) At the minimum of the long-run average total cost curve. B) Without constraints since there is no c
olga nikolaevna [1]

Answer:

D At the output where marginal revenue equals marginal cost.

Explanation:

As we know that the monopolist have the market power so we can said that the prices can be set at the output level i.e. when the marginal revenue is equivalent to the marginal cost

So as per the given options, the option d is correct

And, the same should be considered and relevant

5 0
3 years ago
Other questions:
  • While playing with his toy truck on the couch, Nezzy points to the toy truck and says, "Truck go." His father responds to this b
    8·1 answer
  • The tasman company purchased land for $150,000. the cost to demolish the existing building and prepare the land for a new buildi
    7·1 answer
  • Donald operates an accounting firm and has an annual summer party for the employees and their families. He believes the party be
    7·2 answers
  • Sheffield Company had an investment which cost $250000 and had a salvage value at the end of its useful life of zero. If Mussina
    9·1 answer
  • Knowledge Check 01 On February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man
    5·1 answer
  • Because of vast differences between different regions, multinational corporations often use ______ departmentalization.
    12·1 answer
  • Ok but seriously don't click on the site in the comments...unless you want to
    9·2 answers
  • Suppose the downward sloping labor demand curve shifts rightward in a labor market with a single employer (monopsony). What happ
    12·1 answer
  • Provo, Inc., had revenues of $10 million, cash operating expenses of $5 million, and depreciation and amortization of $1 million
    11·1 answer
  • A measure of the burden of continual deficit financing over time is the ratio of:.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!