Answer:
C. credit to Customer Refunds Payable, $900
Explanation:
Global Company sold merchandise to Montana Industries for cash, $3,450. The cost of merchandise sold was $1,850.
Global Company refunded Montana Industries $900 for returned merchandise. The cost of merchandise sold was $600.
The entry that will be recorded by Global Company in the journal entry for the refund from the sale a credit to Customer Refunds Payable, $900
<u>This amount of $900 will eventually be netted off against the accounts receivable amount for the total sales of $3,450, reducing the amount payable by the customer to $2550</u>
Answer:
Examples are such like loyalty programs, subsidized delivery, unique selling points, brand recognition, ethical and/or charitable concerns, after-sales service, positive feedback reviews, marketing campaigns and many more.
Explanation:
Answer:
Study objects, conduct tests, research written materials, and ask questions
Answer:
Cash payments + cash receipts = cash requirements
Explanation:
The cash budget is a budget which deals in a inflow and outflow of cash. The inflow of cash refers to the incoming of cash through receipts while the outflow of cash refers to the outgoing of cash through payments
It interprets the liquidity of the business organization whether organization has enough cash or it can be borrowed for running its organization
Therefore, the Cash payments + cash receipts = cash requirements is wrong as other equations that are given are right
Answer:
The aggregate budgeted selling expense for the month of February amounts to $20,900
Explanation:
Selling expense budget is the plan which estimate the selling expense which happen in that period or year or month. It is related to the marketing as well as selling the product to customers. And involve advertising expense, commission, delivery cost and signs.
The aggregate budgeted selling expense for the month of February is computed as:
Aggregate budgeted selling expense = Commission + Monthly Salary of Sales manager + Advertising expense
where
Commission is as:
Commission = Sales × 5%
= $318,000 × 5%
= $15,900
Monthly Salary of Sales manager is $3,700
Advertising expense is $1,300
So,
Aggregate budgeted selling expense = $15,900 + $3,700 + $1,300
Aggregate budgeted selling expense = $20,900