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kkurt [141]
3 years ago
9

A buyer uses a periodic inventory system, and on December 5, it purchases $4,000 of merchandise on credit terms of 2/10, n/30. C

omplete the journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
Aloiza [94]3 years ago
4 0

Answer:

The journal entry is shown below:

Explanation:

The journal entry for the following will be as:

Accounts Payable A/c.......................Dr   $4,000

       Merchandise Inventory A/c..........Cr   $80

       Cash A/c..............................................Cr  $3,920

As the buyer purchases merchandise worth $4,000, so the accounts payable account is debited and the buyer will be applied a discount of 2%, so merchandise inventory is credited and against the cash is paid, so the cash account is credited.

Working Note:

Discount = Amount × 2%

= $4,000  × 2%

= $80

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Using the aging method of accounts receivable method, $5,800 of the company’s Accounts Receivable are estimated to be uncollecti
djverab [1.8K]

Answer:

$5,140

Explanation:

Data provided in the question:

Uncollectible Accounts receivable = $5,800

Balance of Accounts Receivable = $108,000

Allowance for Doubtful Accounts = $660

Credit sales during the year = $166,000

Now,

Bad debt expense = Uncollectible Receivables - Allowance of doubtful debts

or

Bad debt expense = $5,800 - $660

or

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6 0
3 years ago
Dog owners do not bear the full cost of the noise their barking dogs create and often take too few precautions to prevent their
Reil [10]

Answer:

making it illegal to "disturb the peace."

Explanation:

The local government addresses this problem by making it illegal to "disturb the peace." This means that any form of unruly public behavior, such as fighting or causing excessively loud noise is considered a criminal offense misdemeanor. Individuals charged with this crime may face some jail time, fines, or alternative sentences such as community service depending on the laws in that jurisdiction.

6 0
4 years ago
"Which statements are TRUE about IO tranches? I When interest rates rise, the price of the tranche falls II When interest rates
horrorfan [7]

The available options are:

A. I and III

B. I and IV

C. II and III

D. II and IV

Answer:

C. II and III

Explanation:

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Hence the true statements are:

II When interest rates rise, the price of the tranche rises

III When interest rates fall, the price of the tranche falls

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3 years ago
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The answer to this question is "Fixed Cost." this is because it doesn't change so it's fixed on one price!
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Answer:

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