The entry to record the receipt of payment is $2,590 in accounts receivable.
What is Trade discount?
Trade discounts, also known as functional discounts, are payments made to distribution channel participants in exchange for completing a task. Storage and shelf stocking are two examples of these tasks. Trade discounts are sometimes bundled to cover a variety of services. For instance, 20/12/5 may stand for 20% off for storing the merchandise, 12% more off for shipping, and 5% more off for keeping the shelves filled.
Terms 2/10, n/30 state that payments must be made within 10 days of the date of purchase to receive a 2% discount, and payments must be made in full within 30 days to avoid a discount.
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Answer:
a Competency
Explanation:
Competency refer to set of capabilities an enterprise possesses relating to performance of a task in an efficient manner in a given specific situation.
Competencies are the sum total of skills, knowledge and capabilities. These are developed over time with application of skills and knowledge.
In the given case, Evergreen reaps benefits with respect to parking area for unwanted aircraft owing to space it possesses and the climate of the location which protects the aircraft from dust and rusting.
This represents a case of competency which has built up over time owing to a capability which has emerged out of application of skills, knowledge and environmental advantage.
Answer:
<em>under</em><em> </em><em>heal</em><em>th</em><em> </em><em>and</em><em> safety</em><em> </em><em>law</em>
Explanation:
The primary responsibility for this is down to employees workers have duty to take of their own health and safety.
The journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $90,000.
<h3>
What journal entries?</h3>
- A journal entry is an act of keeping or producing records of any economic or non-economic transaction.
- An accounting journal, which shows a company's debit and credit balances, records transactions.
- The journal entry can be made up of multiple records, each of which is either a debit or a credit.
- Otherwise, the journal entry is termed unbalanced if the sum of the debits does not equal the total of the credits.
So, the journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of cash invested, and the fair market value.
30,000 + 60,000 = $90,000
Therefore, the journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $90,000.
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The complete question:
T. Dole invests cash and land into an existing partnership. The cash invested is $30,000 and the land has a fair market value of $60,000. The journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $ ______.