1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
makkiz [27]
3 years ago
5

On Jan. 2, Callie Company received a $700 payment from a customer previously billed for services performed. The journal entry to

record this transaction would include a (debit, credit) to the account and a (debit, credit) to the Accounts Receivable account.
Business
1 answer:
Lerok [7]3 years ago
7 0

Answer:

Cash and equivalents $700 Debit*

Accounts Receivables $700 Credit*

Explanation: The cash represents a debit because we are receiving the cash from a sale already made and the credit is made accounts receivable, because the product was previously sold only that a payment term was given to the person who is currently fulfilling, then the account receivable becomes cash as part of the company's operating cycle.

You might be interested in
Bad girls not allowed<br><br>need a good friend<br><br>373 629 9840<br><br>444000​
Ludmilka [50]

Answer:

i am a good friend

Explanation:

5 0
3 years ago
Read 2 more answers
Swifty Corporation issued 100000 shares of $10 par common stock for $1250000. A year later Swifty acquired 15900 shares of its o
Drupady [299]

Answer:

the journal entries should be:

Dr Cash 1,250,000

    Cr Common stock 1,000,000

    Cr Additional paid in capital 250,000

Dr Treasury stock 238,500

    Cr Cash 238,500

Dr Cash 161,500

    Cr Common stock 85,000

    Cr Additional paid in capital 76,500

4 0
3 years ago
Southeastern Bank organizes its loan operations based on the market served—consumer, small business, or nonprofit organizations.
bezimeni [28]

Answer:

customer group

Explanation:

Customer departmentalization is where the organization’s activities are ready to respond to and interact with specific customers or customer groups.

This organizational form is used when great emphasis is placed on effectively serving different customer types.

If Southeastern Bank organizes its loan operation based on customers group, this will allow Southeastern Bank to better serve borrowers with different needs by offering customized loan arrangements according to the customers preferences.

<u>Advantages of customer departmentalization </u>

  • Encourages concentration on customer needs.
  • Gives customers feeling that they have an understanding supplier (banker).
  • Develops expertness in the customer area.
  • Saves customers’ time.
3 0
3 years ago
Which is a business likely to need to secure startup capital from a venture capitalist?
EleoNora [17]
Any business that is in the tech business, where massive amounts of money go for development and for producton are companies that are very likely to need startup capital from some sort of investor; in this case it can be a venture capitalist but it can also be any other type of investor. 
4 0
3 years ago
Read 2 more answers
Under market organization, individuals can communicate their preferences to other decision makers directly, through communicatio
salantis [7]

Answer:

B) False

Explanation:

The way the transaction takes place on the market is the Market Organization. Over time it's determined by a combination of factors: chance events (e.g., technical innovations, locations), financial and physical limitations (transaction costs, intelligence cost, manufacturing costs)etc.

8 0
3 years ago
Other questions:
  • Debit means increase and credit means decrease for all accounts. true false
    14·1 answer
  • a system of accounting for production operations that produces timely information about inventories and manufactyring cost per u
    15·1 answer
  • Sometimes development aid goes toward disaster relief. For​ example, after the Indian Ocean tsunami of​ 2004, non-governmental o
    6·1 answer
  • Ray is starting a new business with a friend and trying to decide between a C corporation, S corporation, and partnership. What
    14·1 answer
  • An owner decides to sell his property and discovers that there is a lien on his title for a swimming pool he paid off 10 years a
    14·1 answer
  • On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $10,800. What is the maturity value of the
    12·1 answer
  • Holly comes into Matthew's bicycle shop to learn about the Easy Ride bicycle she saw in his newspaper ad. Matthew shows her the
    9·1 answer
  • Chen incurred $ 58, 500 of interest expense this year related to his investments. His investment income includes $ 15,000 of int
    8·1 answer
  • Simone's (57) husband, Charles, died in 2017, and she has not remarried. Simone's mother, Lucy, lives in a nursing home. Lucy's
    10·2 answers
  • Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and Canada. The number
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!