Answer:
A. Debit Cash $1,000 and Debit Accounts Receivable $5,000 and Credit Fees Income $6,000
Explanation:
When revenue is earned and cash is paid, debit cash and credit revenue. However, when revenue is earned and cash is yet to be paid, debit accounts receivable and credit revenue.
Hence, given that Smart Services performed $6,000 of services. Their customer paid $1,000 of the amount right away but charged the remaining amount.
Entries required are
Debit Cash $1,000
Debit Accounts Receivable $5,000
Credit Fees Income $6,000
Answer:
Cash increases and Accounts Receivable decreases(D)
Explanation:
$1000 represents earned rental income that has been recognized as revenue in the previous month but yet to be paid by customer. Hence, this would have been debited to account receivable ledger.
Upon cash receipt in the current month, this will be debited to Cash Account(Increase) and credited to Account Receivables (to reduce receivable balance).
The effect of this transaction will only affect Statement of Financial Position under current assets by reducing receivables balance and increase cash balance.
Answer:
C) $1,455.08
Explanation:
Formula = M = [P (1 + r)^n * r] / [(1 + r)^n - 1]
Putting the figures in the formula =
$70 = P [(1 + 0.142/12)^24 * 0.142/12 ] / [(1 + 0.142/12)^24 - 1]
=> $70 = P (1.326209535) * 0.142/12 / 0.326209535
=> $70 = P * 0.0156934795 / 0.326209535
=> P = $1455.08
So, the maximum initial purchase that Carla can buy on credit = $1455.08
It is false that using customer value propositions is that they are complex and difficult to understand.
<h3>What is customer value proposition?</h3>
Customer value proposition is a type of business statement that entails detailed information why a customer need to buy a product or use a service. The main target of customer value proposition is their potential customers rather than other groups like employees, partners or suppliers.
Therefore, It is false that using customer value propositions is that they are complex and difficult to understand.
Learn more about customer value proposition below.
brainly.com/question/14838659
C. Your reader wants to see exactly what your product looks like.(APEX VERIFIED)