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
IgorLugansk [536]
3 years ago
9

A credit sale is made on July 10 for $900, terms 1/15, n/30. On July 12, the purchaser returns $100 of goods for credit. Give th

e journal entry on July 19 to record the receipt of the balance due within the discount period.
Business
1 answer:
balu736 [363]3 years ago
5 0

Answer:

                                      Dr.      Cr.

July 19

Cash                            $792

Discount expense      $8

Account Receivable              $800

Explanation:

The term 1/15, n/30 mean there is a discount of 1% is available on the sales value, if payment is made within 15 days of sale with credit term of 30 days.

The sale of $900 was made on July 10 and discount period is until July 25.

On July 12 goods amounting $100 was returned and now the amount due from the customer is $800 ( $900 - $100 ).

The payment made on July 19 is actually in the discount period and it is eligible for the discount as it is made before July 25.

Discount = Amount due x Discount rate

Discount = $800 x 1% = $8

$792 Cash received against the sale made on July 10 and discount $8 is expensed. Total of $800 is credited from the account receivable account to eliminate it.

You might be interested in
If unemployed workers decide to stop looking for a job and instead enroll in further education, how will the number of employed
allochka39001 [22]

The number of employed workers will not change and the unemployment rate will decrease.

The number of employed workers will not change reason being that non was employed  because the unemployed workers has enroll in further education. Hence the number of employed workers will remain the same.

On the other hand the unemployment rate will decrease or decline based on the fact that the unemployed workers are no longer looking or searching for job  but has rather enroll in further education.

Inconclusion the number of employed workers will not change and the unemployment rate will decrease.

Learn more about unemployment rate change here:brainly.com/question/14629507

6 0
2 years ago
What have you learned from the self-reflection in this class, and how do you think it will help you in the workforce? Be specifi
lys-0071 [83]

Answer:

The first week of this unit I had a mix of emotions, excitement and stress .  The topics covered each week have giving me the opportunity to increase my knowledge in many areas.  Having an interest in teaching when I started this course has now grown to having an interest in learning as well.   Reflecting on my education as a child has shown me the growth in teaching and our current education system.      

Professionalism was a great way to start the unit; this topic has giving me the chance to understand the responsibilities that teachers have to students and their parents. On beginning this topic I believed that professionalism was about ethics and how teachers conducted themselves in and out of the classroom.  However while this is…show more content…

Cognitive learning and constructing knowledge are topics that hold a strong interest to me.  Working with children that have language disorders and cognitive issues the more knowledge I gain in this area assist with the quality of instruction  that I provide.  Meaningful learning is vital in assisting students to learn and to store newly learned knowledge. Students will benefit from high quality concrete examples, simple and precise instructions.  Language development should be encouraged and modelled students should have the opportunity to ask questions.  Introducing new words within instructions will assist the student in extending their vocabulary. It is important for all students to put into words their understanding of the tasks being taught.

Understanding cognition and how we learn is essential in the developmental stages of children.  Not all students learn in the same way, understanding the cognitive process will assist in the development of the students. By modifying my approach when giving instructions I have noticed growth in current students that I am working with.  Using concrete materials and giving the opportunity for students to be involved in hands-on activities on a daily basis, is essential in making new material meaningful to learners..  The knowledge gained from this topic has increased my understanding.

Explanation:

4 0
2 years ago
A fund manager is considering three mutual funds. The 1st is a stock fund, the 2nd is a long-term government and corporate bond
Vinil7 [7]

Answer:

Expected return is: 7.37% and the Standard deviation is: 24.96%

Explanation:

Correlation between fund S&B=0,0667

Standard Deviation of Fund S=41%

Standard Deviation of Fund(B)=30%

E(R) of Stock Fund S=12%

E(R) of Stock Fund B=5%

Covariance between the funds = Standard Deviation of Fund(B) × Standard Deviation of Fund S × correlation between these funds

Cov = 0.41 × 0.30 × 0.0667 = 0.008204

Now minimum variance portfolio is found by applying:

W min(S)=(SDB)^2-Cov(B,S) / ((SDS)^2+(SDB)^2-2Cov(B,S)

W min(S) = 0.338431

W min(B) = 1-0.338431=0.661569

1) E(r)min= 0.338431 × 12% + 0.661569 × 5% = 7.37%

2) Standard Deviation:

SD Min = (Ws^2XSDs^2+Wb^2XSDb^2+2XWsWb*Cov(s,B)^1/2

SDmin=(0.338431^2 × 0.41^2 + 0.661569^2 ×   0.3^2   + 2 × 0.338431 × 0.661569 × 0.008204)^1/2

SDmin=24.96%

8 0
3 years ago
Bababooey.................................................................
Serggg [28]

Answer: Are you bored because i am

.

4 0
3 years ago
Read 2 more answers
Terry traveled to a neighboring state to investigate the purchase of two hardware stores. His expenses included travel, legal, a
malfutka [58]

Answer: See explanation

Explanation:

a. Terry was in the hardware store business and did not acquire the two hardware stores.

The amount that Terry will deduct in 2020 will be $52000 which is the deduction for all expenses.

b. Terry was in the hardware store business and acquired the two hardware stores and began operating them on October 1, 2020.

In this case, he'll also deduct $52000 which is the deduction for all expenses.

c. Terry did not acquire the two hardware stores and was not in the hardware store business.

None of his expenses will be deducted. The amount it be deducted is 0.

5 0
3 years ago
Other questions:
  • What effect will this adjustment have on the accounting records?
    8·1 answer
  • Calculate real gdp given nominal gdp and inflation
    7·1 answer
  • Despite its high reach, ______ typically provides the least depth of news coverage.
    11·1 answer
  • Choose all that apply. Select each of the tools and services available with a savings account. i'm thinking 1,2,3,4,5
    12·1 answer
  • A sales agent made her quota of $1 million in sales for the year. It is now December, and a $300K sale is coming up. The sales a
    11·1 answer
  • Top Ramen is a brand of noodles that is widely considered to be an inferior good with a high salt content. What would happen to
    6·1 answer
  • Two firms, A and B, each currently dump 50 tonnes of chemicals into the local river. From now on both firms will require a pollu
    6·2 answers
  • Suppose you buy lunch for $15.40 that includes a 8% sales tax. How much did the restaurant charge you for the lunch (excluding a
    6·1 answer
  • What is the nature of DENEL​
    10·2 answers
  • Jarett & son's common stock currently trades at $30.00 a share. it is expected to pay an annual divident of $1.00 a share a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!