The accounting entries for Rippen Corporation is recorded as follows:
December 3,
DR Accounts Receivable (Burnen Corp.) $480,000
CR Sales $480,000
DR Cost of Goods Sold $320,000
CR Inventory $320,000
December 8,
DR Sales Return $30,000
CR Accounts Receivable $30,000
DR Inventory $20,000
CR Cost of Goods Sold $20,000
December 12,
DR Cash $441,000
DR Credit Discount $9,000
CR Accounts Receivable $450,000
<h3>What is Journal Entry?</h3>
A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.
The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.
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The 4 P's:
Price - cost of the product
Product - the type of good being sold
Place - how the product will get to the consumer (store, internet, etc)
Promotion - what marketing activities will be used to communicate the product (advertising, sales, etc)
Answer:
Duress/Coercion/Compulsion
Explanation:
Duress or Coercion or Compulsion: This type of defense involves someone else threatening to use force or violence to get you to do something against your better judgment. Essentially, it means you were forced to commit a crime. In this case, Reuben want to entangle the elderly lady into the crime of bank heist by threatening to shoot her husband.
For a defense of Duress/Coercion/Compulsion: the person must be forced to commit the offence. The person under duress (illegal coercion usually through being threatened or the use of violence) must be present when the offence is committed. The person must believe that the threat will be carried out.
Answer:
B. product line
Explanation:
The large variety of toothpastes under the Crest brand is an example of a product line
Answer: Sold at a discount because the market interest rate was higher than the stated rate. S
Explanation:
the bonds was Sold at a discount because the market interest rate was higher than the stated rate. This is as a result of the bonds issued which were at a discount having its market price way lower than its face value. Bonds tends to be sold at a discount when the market interest rate has exceeded the stated rate of the said bond.
