Answer:
A- Gill, a credit customer
Explanation:
A journal entry involves the process of keeping the records of business transactions made by an organization.
Journal entries are mainly used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.
A sales ledger can be defined as an accounting book that comprises of the individual account of each customer of a business firm and records the money received for goods or services purchased, whether the payment has been received or not.
Simply stated, a sales ledger sequentially records all sales that have taken place in a business, whether or not payment have been received.
This ultimately implies that, a sales ledger contains accounting information on all sales transaction made by a company including, money received for its goods and services and money owed by its customers.
Hence, the account which will appear in the sales ledger is that of Gill, a credit customer.
Answer:
Gross Profit for May 798
Explanation:
<u>under FIFO </u>
We need to use units from the beginning of the month first.
May 10th sale 12 x $16 = 192
May 20th sale 15 x $16 = 240
May 23th
2 x $16 = 32
8x 1$8 =144
Total COGS
608
Sales Revenue 37 x 38 = 1,406
Cost of Good Sold (608)
Gross Profit for May 798
Answer:
the line item veto
Explanation:
The line item veto allows the Texas governor to veto specific items in an appropriation bill without killing the entire bill. The state budget is an appropriation bill, so the governor can veto specific budget items.
The bill itself is submitted by the governor, but the state legislature must approve it, and it can also change it.
