Ahah relatable but anyways u good?
The advantages of primarily cash pay are the following:
1. It motivates the owner to expand the business.
2. The desirable increase in the level of services.
The disadvantages are the following:
1. There was a little incentive to the owner.
2. There was potential to lose sight to the customers.
Answer: the correct answer is $169,000
Explanation: the warranty expenditures during the year is $195,000 minus the increment in the liability account $26,000 equals $169,000.
Answer:
Explanation:
journal entries in the books of AXE
jan 6 purchased goods from Green worth $1200 term 2/10 , n/30
Inventory a/c $1200
Accounts Payable - green $1200
jan 6 purchased goods from munoz worth $900
inventory a/c$900
Accounts Payable - munoz $900
jan 14 Payment being made to green. Since payment is made within 8 days so discount will be recieved by Axe( note term 2/10 means if payment is made within 10 days axe will recieve discount @2%)
Accounts payable - green $1200
Cash $1,176
discount recieved $ 24
( being discount recieved [email protected]% = $24)
Feb 2 payment made to munoz , since it is paid after 10 days no discount will be recieved
Accounts payable- munoz $900
Cash $900
feb 28 purchased goods worth $350 from reynold
Inventory $350
Accounts payable - reynold $350
