Answer:
The Journal entries with their narration is given below:-
Explanation:
The Journal entry is shown below:-
1. Account receivables Dr, $22,200
To Sales $22,200
(Being sales is recorded)
2. Cash Dr, $6,048
Service charge expense Dr, $252
($6,300 × 4%)
To Sales $6,300
(Being credit card sales is recorded)
3. Cash Dr, $11,600
To accounts receivable $11,600
(Being cash is recorded)
4. Accounts receivable Dr, $364
($22,000 - $11,600) × 3.5%
To Interest revenue $364
(Being finance charges is recorded)
Out of sheer process of elimination , my best guess would be
A. machines allow the same number of workers to check more products
Answer:
A.
They ensure that people and businesses can buy what they need.
Explanation:
Borrowing involves requesting and receiving a huge sum of money in a lump sum. Households and firms borrow from lenders to finance business expansion or domestic consumption.
In the economy, borrowing is significant as it facilitates the acquisition of start-up capital, capital goods, and household developments. Without borrowing and lending, these investments and consumption would not be possible as they require large sums of money to initialize. If firms and households depended on savings for capital and consumption expenditure, the rate of economic growth would be very slow. It would take many years to achieve the substantial amount needed for expansion and development projects.
