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Vitek1552 [10]
3 years ago
13

On July 9, Mifflin Company receives a $10,400, 90-day, 8% note from customer Payton Summers as payment on account. What entry sh

ould be made on July 9 to record receipt of the note
Business
1 answer:
ruslelena [56]3 years ago
8 0

Answer: Debit Notes Receivable $10,400; credit Accounts Receivable $10,400.

Explanation:

Mifflin Company is receiving the note back from Payton Summers which means that Payton Summers intends to settle their account. The correct entry to record therefore is one that closes off the Notes Receivable account by debiting it as it was on a credit balance.

The other account would be the Accounts Receivable account which would need to be credited by the amount owed to close off the account as it was on a debit balance as Accounts Receivables are when customers are still owing.

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Kilbuck Company operates in a lean manufacturing environment. Kilbuck applies conversion costs at a rate of $25 per unit. Kilbuc
Elza [17]

Answer:

The journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.

Explanation:

Raw materials of all kinds are measured at the start and recorded into a list plus account, with a credit to the accounts collectible account, and a debit to the raw materials inventory account.

The accounting treatment will vary when raw materials are consumed speculating on their standard as direct or indirect materials.

Thus, the journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.

3 0
3 years ago
Read 2 more answers
Do right people with wrong timing ever get a second chance?
babunello [35]
It depends ob your situation. For example, in the office situation, if you came late for a special meeting (like people coming from other countries just to visit you), then you would most probably won't see the meeting again!


I hope it helpd you!
5 0
2 years ago
A​ check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks
slavikrds [6]

Answer:

Follows are the solution to this question:

Explanation:

In point A:

\text{Accelerating layering  Forecast July= }(\text{Actual demand of June} \times 0.20) + ( \text{Forecast demand of June} \times  (1 - 0.20))

= ( 38 \times 0.2) + ( 43 \times  0.8)\\\\= 7.6+ 34.4\\\\=42

In point B:

\to Forecast \ \  August = (44 \times 0.2) + ( 43.2 \times 0.8)

                                 =8.8+34.56 \\\\=43.36

In option C:

Its right choice is to track the seasonality of the processing requirements of the control centre.

6 0
3 years ago
What distinguishes even-aged management practices from uneven-aged management practices?
lyudmila [28]

Even-aged practices remove larger groups of trees than uneven-aged management practices.

Uneven-age management in forestry refers to a system of management that periodically selects individual trees or small groups of trees for harvest. In popular, the idea of choppy-age control involves the sustained yield of for- est products at the same time as preserving non-stop wooded area cover.

Even-aged stands are ones where the variety of tree a while inside a stand do not range via more than 20% or so. Plantation forests are the quality instance of even-aged stands, as often they've created the use of seedlings or clones from a common set of mother and father.

Large-scale natural disturbances, including wildfire, have evidently favored even-elderly stands of seral species with a gap carefully related to these disturbance types. An uneven-elderly stand is a mosaic of tiny even-elderly clumps and scattered individuals woven together thru a perpetual cycle of random disturbances.

Learn more about management here: brainly.com/question/1276995

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4 0
1 year ago
The minute you walk into your mother-in-law's house to visit, you are struck by the strong smell of her perfume. however, after
horrorfan [7]

This is probably the result of sensory adaptation.

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