Answer:
Explanation:
The journal entries are shown below:
On 1 June 2020
Accounts receivable A/c Dr $50,925
To Sales revenue $50,925
(Being goods are sold on credit)
On July 12 2020
Cash A/c Dr $50,925
To Accounts receivable A/c $50,925
(Being cash received is recorded)
The computation is shown below:
= Sales amount - discount
= $52,500 - $1,575
= $50,925
And, The discount = Sales amount × discount rate
= $52,500 × 3%
= $1,575
Answer:
money damages awarded to punish the defendant for gross and wanton negligence and to deter future wrongdoing.
Explanation:
Punitive damages are money damages awarded to punish the defendant for gross and wanton negligence and to deter future wrongdoing.
In litigations, the amount of money awarded by a court of competent jurisdiction to punish a defendant for a crime committed or such wrongdoings (gross and wanton negligence) and by extension serves as a deterrence to others is known as a punitive damage.
The right answer for the question that is being asked and shown above is that: "TRUE." <span>The value of a cash budget is that it helps you predict and supply your future cash needs. This statement is true as far as the value of a cash is concerned.</span>
Answer:
1. d. Both a and c.
2. True.
Explanation:
Marsha and Shelby both are U.S. citizen. Marsha can claim Income credit once she is 25 years older up to 65 years of age. The individual below 25 years of age cannot claim income credit according to the tax law prevailing in U.S.
Answer:
<u>The entire $100,000 sales price can be currently recognized since most of the conditions have been met.</u>
<em>Explanation:</em>
Remember, it was mentioned that Silverstone accepted the terms of the sales contract that states "SilverStone takes back all unused emission systems." But a new point was mentioned that four out of the five conditions were met by Silverstone which could grant them 95% percent of sales.
Thus, they can recognize the sales since most conditions were met.
