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Answer:
The importer accepts this price, so his bank will <u>debit</u> the importer's account in the amount of <u>$500000</u>
Explanation:
Debiting an account removes money from the account. Crediting an account adds money to the account.
The bank will therefore <em>debit</em> his account because the money will be taken out and paid to the exporter.
The amount that the importer pays in dollars can easily be calculate as:
€512,100 / €1.0242 = $500000
Direct channel is typically used between a supplier and manufacturer of industrial products.
A supplier is a person, company, or entity that provides products or services to another entity. For example, a laptop manufacturer or a company that sells her PCBA to his OEM is an example of a supplier.
Supply In his chain, a provider or seller is a company that provides goods or services. Generally, supply chain providers manufacture inventory/stock items and sell them to the next link in the chain. Today, these terms refer to providers of goods or services.
In business, a supplier is a person or entity that sells quality services and goods at a reasonable cost from manufacturers to retailers or distributors.
Learn more about supplier here:brainly.com/question/26500183
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Answer:
A. Cash 960
Service Revenue 960
Explanation:
In the given transaction, the trade discount is not shown in the recording of the journal entry but the effect is to be seen in the journal entry.
Since the cash is paid for providing the service and give the patient a 20% discount.
So, the discount amount would be equal to
= Service cost × discount rate
= $1,200 × 20%
= $240
And, the journal entry would be shown below:
Cash A/c Dr $960
To Service Revenue $960
(Being service is provided for cash and discount is given)
