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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.

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Discuss and analyze a situation where you worked on a team/project team consisting of diverse or intercultural team members. Con
pav-90 [236]

Explanation:

a. It is common that there are challenges in multicultural companies, communication can be a problem in companies where there are language barriers for example, which can cause significant communication noises that can cause misunderstanding and difficulty integrating a member of a culture different when joining a work team.

b. There are several different cultural values ​​that can directly influence the work environment, the issue of formality for example is a factor that differs from country to country, and the lack of formality of an employee for example can be seen as rude, invasive behavior or unprofessional, when in fact it may just be a cultural feature of countries where the work environment is less informal and more flexible.

c.  To make communication more effective, it is necessary to prepare the organization, that is, the development of policies, organizational culture and programs aimed at inclusion and respect for the different cultural values ​​present in the organization.

It is essential that the company prepare its managers and employees to receive workers from other countries, developing a favorable environment for the exchange of positive experiences, aimed at integration, collaboration and ethical behaviors.

4 0
3 years ago
Country Able and Country Baker initially have the same real GDP per capita. Country Able experiences no economic growth, while C
muminat

Answer:

The correctt answer that fills the gap is Double.

Explanation:

GDP per capita, income per capita or income per capita is an economic indicator that measures the relationship between the level of income of a country and its population. For this, the Gross Domestic Product (GDP) of said territory is divided by the number of inhabitants.

The use of per capita income as an indicator of wealth or economic stability of a territory makes sense because through its calculation, national income is interrelated (through GDP in a specific period) and the inhabitants of this place.

The objective of GDP per capita is to obtain data that shows in some way the level of wealth or welfare of that territory at a given time. It is often used as a measure of comparison between different countries, to show differences in economic conditions.

4 0
3 years ago
What is the primary purpose of a mission statement?
natka813 [3]
Its c good luck and hope that helps 
3 0
3 years ago
The strategies used to promote generalization will also make skill maintenance more likely to occur.
Murljashka [212]

Answer:

True

Explanation:

Generalization creates a set of common practice which is further considered as an identifiable acceptable standard for the instance.

As for example if we state that a person is good at cooking, on the basis on generalization it will be considered necessary and obvious that the person knows the skills of cooking basic food of that region.

Generalization thus, creates a kind of basic skills in every person of that domain. This will influence people to develop more skills.

6 0
3 years ago
On June 1, 2015 Heloise gave Henrietta a gift of stock worth $10,000. Heloise had purchased the stock on January 1, 2015 for $13
padilas [110]

Answer:

$500 short-term capital gain

Explanation:

Henrietta's gain = selling price - stock's basis = $13,500 - $13,000 = $500

Since Henrietta received the stocks on June 1, 2015, and sold them on January 1, 2016, only 7 months had passed, therefore, this transaction would be considered a short term capital gain.

When a gift is sold (in this case the stocks), a taxpayer can use the basis for computing gains. If the stocks were sold at a loss, Henrietta should use the lower value (at the moment of the gift) to determine her loss.

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3 years ago
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