If You Had the same ABCD Answers as one Before, The Answer out of These:
A. Transportation
B. Medical Expenses
C. Housing
D. Food
The Answer would Be B) Medical Expenses.
I think it might be C, but i'm not sure
Answer:
d. $920 increase liabilities, increase expenses
Explanation:
The journal entry is given below:
On March 31
Interest Expense Dr. $920 ($92,000 × 4% × 3 ÷ 12)
To Interest Payable $920
(being interest expense is recorded)
Here interest expense is debited as it increased the expense and credited the liabilities as it also increased the liabilities
Therefore the option d is correct
Answer:
d. $1,470,000
Explanation:
The computation of the cash realizable value of the accounts receivable is shown below:
= Ending balance of accounts receivable - credit balance of uncollectible amount
= $1,600,000 - $1,30,000
= $1,470,000
For finding out the cash realizable value, we deduct the credit balance of uncollectible amount from the ending balance of accounts receivable
Chain stores are defined as follows: A chain store system consists of a number of retail stores, which sell similar products, are centrally owned and operated under one management. A chain store is one of the retail units in the chain store system.
