A company bills customers for services provided. the company records this transaction with a Debit Accounts Receivable.
A customer is an individual or business that purchases goods or services from another business. Customers are important because they drive sales. Without them, companies cannot continue to exist.
The definition of a customer is a person who purchases products or services at a store, restaurant, or other retail establishment. An example of a customer is someone who goes to an electronics store and buys a television. (informal) A person, especially a person, who interacts with others in some way.
In sales, commerce, and business, customers (sometimes called customers, purchasers, or purchasers) receive goods, services, products, or ideas obtained from sellers, vendors, or suppliers through financial transactions. is a person. Transaction or exchange for money or other valuable consideration
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The answer for this question is True
Answer:
The answer is given below;
Explanation:
Preferred Stock Dr.$39,000,000
Common Stock Cr.$33,000,000
Paid in capital in excess of par-Common stock (39,000,000-33,000,000) Cr.$6,000,000
As the book value of preferred stock is greater than the price paid at the time of conversion into common stock,therefore excess amount is paid in capital in excess of par for common stocks.As the preferred stock is reduced by their book value,therefore it is debited and common stock is credited with its cost.
The authority that Jerry has which allows him to complete inspections and settle claims is called an Express authority.
<h3>What is express authority?</h3>
This is a kind of authority that an agent has that is clearly spelled out in writing or given orally.
Jerry has a contract with ABC Insurance that writes what he is allowed to so which means that his powers are expressly given.
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Answer:
Entry is given below
Explanation:
As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.
Entry DEBIT CREDIT
Notes payable $600,000
Interest $36,000(w)
Cash $636,000
Working
Interest = $600,000 x 8% x9/12
Interest = $36,000
