Answer:
Dr. Right of use asset $58,000; Cr. Lease liability $58,000
Explanation:
Journal entry
Date General Journal Debit Credit
Right of use of asset $58,000
Lease Liability $58,000
(Entry to record the initial transaction)
Answer: $90,411
Explanation:
Average Accounts payable = Net Purchases * Average collection period / 365
Average collection period is 60 days
Net Purchases as stated is $550,000
Average accounts payable = 550,000 * 60 / 365
= 90,410.9589
= $90,411
A U.S. producer that exports merchandise made at its U.S. plants for shipment to outside markets becomes more focused in remote markets or in foreign markets when the U.S. dollar decreases in values against the currencies or money of the other nations or countries to which it is trading.
