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Leokris [45]
3 years ago
7

Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offe

red a 15% price reduction. Gershwin would record this reduction by crediting accounts receivable and debiting:
A) Inventory.
B) Sales discounts.
C) Sales.
D) Cost of goods sold
E) None of the above.
Business
1 answer:
ratelena [41]3 years ago
4 0

Answer:

B) Sales discounts.

Explanation:

Sales Discount is a contra revenue account which is adjusted in the sales to calculate the net sales value.

As the following transaction is already been recorded at the time of sale

Dr. Account receivable  xxxx

Cr. Sales                         xxxx

Sales account will not be debited to adjust the transaction. we will record this transaction in sales discount account which will ultimately adjusted.

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Today, you borrowed $3,200 on a credit card that charges an interest rate of 12.9 percent, compounded monthly. How long will it
miskamm [114]

Answer:

<em>It will take me </em>= <em>30.99 years</em> to pay-off the borrowed amount paying $60.00 every month

Explanation:

SOLUTION:

Using the Formula: A = P(1+r/n){nt}

Where:

A= $60.00;

P = $3,200.00;

r = 12.9%;

n = 12

t =?

Substituting the values into the Formula =

$60 = $3,200(1 + 12.9%/12){12t}

= $60 = $3,200(1 + 12.9%/12){12t}

= $60.00 = $3,200.00 (1 + 0.129/12){12t}

= $60.00 = $3,200.00 (1 + 0.01075 ){12t}

= $60.00 = $3,200.00 (1.01075 ){12t}

= $60.00/$3,200.00 = $3,200.00 (1.01075 ){12t}/$3200.00

= 0.01875 = (1.01075)12t

= Using the law of logarithm

= logA^{N} = Nlog A

=12tlog(1.01075) = log0.01875

= 12log(1.01075)/(1.01075) = log0.01875/log(1.01075)

=  12t = log(0.01875)/log1.01075

= 12t = 1.7270/0.04644

Divide 12 by both sides

=12t/12 = 371.88774/12

t= 30.9898

<em>∴ 30.99 years</em>

<em>It will take me </em>= 30.99 years to pay-off the borrowed amount paying $60.00 every month

3 0
3 years ago
The receptionist at the information desk of a hospital represents the ______ to the service operation system.
vagabundo [1.1K]
The answer is information as the receptionist are the ones responsible for directing people and having to give out informations in regards of what they don't know and what they should do in the hospital. And it represents as a service operation system.
4 0
3 years ago
When the market interest rate rises above the coupon rate for a particular quality of bond, the "current yield": will be below t
meriva

Answer: will be above the coupon rate

Explanation:

The Coupon rate is a fixed rate that a bond issuer pays to it's bond holders. The <em>Current Yield</em> however is calculated by dividing the Coupon payment by the Price of the bond.

When Market interest rises above the Coupon Rate, the price of the bond decreases in the market and vice versa.

Because the price of the bond is now less and it is the divisor of the Coupon rate to get the Yield, it will give a higher percentage which will be more than the Coupon rate.

4 0
2 years ago
A restaurant worker earns a set amount per hour from their employer. They also receive tips from customers. Their earnings most
icang [17]

The restaurant worker's earnings closely resemble that of an employee working on commission plus salary.

<h3>What is commission?</h3>

Commission is additional compensation that's earned based on job performance.

It is an extra payment that is accrued during the course of work and are paid in addition to a base salary.

Hence, the restaurant worker's earnings closely resemble that of an employee working on commission plus salary.

Therefore, option D is the correct answer.

Learn more about commission here: brainly.com/question/26111961

4 0
2 years ago
During 2021, Jasmine, a self-employed individual, paid the following amounts: State income tax $2,400 State sales taxes 2,950 St
dsp73

Answer:

3350

Explanation:

Since state sales tax is larger than state income you will lose that and add your personal property tax of 400 to your deduction.

2950+400= 3350

8 0
2 years ago
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