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
Elis [28]
3 years ago
10

Evergreen Company accepted credit card payments in exchange for $50,000 of services provided to customers. The credit card compa

ny charges a 3% service charge. Prepare the journal entry to record this transaction
Business
1 answer:
sasho [114]3 years ago
6 0

Answer:

Debit Cash/Bank   $48,500

Debit Service charge (p/l)   $48,500

Credit Accounts receivable  $50,000

Being entries to account for credit card payment of debt due from customers.

Explanation:

The credit card payment is a form of cash and cash equivalent that may be accepted by a company in place of  debt owed by another company (a customer).

This is usually at a fee and may be done to ease the company's liquidity. The actual receivable will then be collected from the customer by the credit card company. This is a form of debt factoring.

Service charge

= 3% * $50,000

= $1,500

Amount received = $50,000 - $1,500

= $48,500

The accounts to be adjusted include cash/bank account, service charge (p/l) and accounts receivable.

You might be interested in
In the circular flow of economic​ activity, there are two kinds of markets in which firms and households interact. In the fact
brilliants [131]

Answer:

Factor market is the market where companies purchase the factors of production  and resources that they utilise to produce goods and services. They buy the productive resources  to make payments at factor prices.  Factor maker is also called input market. It is different from product market in which the households are buyers and businesses are sellers. The factor market is opposite of this.

4 0
3 years ago
State x requires that persons who prepare and serve liquor in the form of drinks at commercial establishments be licensed by the
sasho [114]

Yes.  He don’t have to pay and the bartender could get arrested for failing to renew the licence

4 0
3 years ago
UPS, a delivery services company, has a beta of 1.4, and Wal-Mart has a beta of 0.9. The risk-free rate of interest is 4% and th
Elena-2011 [213]

Answer:

10.9%

Explanation:

to calculate the expected return of the portfolio, we first need to calculate the portfolio's beta:

the portfolio beta = (beta UPS stock x weight UPS stock) + (beta Walmart stock x weight Walmart) = (1.4 x 50%) + (0.9 x 50%) = 0.7 + 0.45 = 1.15

portfolio's expected return = risk free rate + (portfolio beta x market risk premium) = 4% + (1.15 x 6%) = 4% + 6.9% = 10.9%

7 0
3 years ago
The risk-free rate is 2.2 percent and the market expected return is 11.9 percent. What is the expected return of a stock that ha
zepelin [54]

Answer:

the expected return of a stock is 10.542%

Explanation:

The computation of the expected return on a stock is shown below:

Expected return on stock is

= Risk free rate + beta × (market rate of return - risk free rate)

= 2.2% + 0.86 × (11.9% - 2.2%)

= 2.2% + 0.86 × 9.7%

= 2.2% + 8.342

= 10.542%

hence, the expected return of a stock is 10.542%

We simply applied the above formula so that the correct value could come

And, the same is to be considered

5 0
3 years ago
Select a business/company that you feel does not understand the psychology of waiting and provide examples in their process wher
kramer

Answer:

Let us pick the case of the organization known as Starbucks. Presently we will give 3 models according to which we feel that it doesn't comprehend the brain science of holding up in their procedure where they could deal with the client's view of standing by better utilizing the guideline from the Norman and Maister's articles. While holding up at a Starbucks behind a tremendous line, we can have numerous cases :  

a) Uncertain Waits Are Longer than Explained Waits - There is no clarification or sureness with respect to how a lot of time it will take for the espresso or your refreshment to be conveyed while you are in that line. This is questionable as the client's before you would request mass requests which may take additional time than only one espresso. In this way, these holds up are questionable.  

b) Occupied Time Feels Shorter than Unoccupied Time - While you are remaining in that line, you have an inclination that your 5-10 minutes have been squandered which you could have better used busy working or at home. In this manner, the time was abandoned and hence feels a waste. While on the off chance that the time was involved by some different methods in the line, at that point it would have been justified, despite all the trouble to remain in the line.  

c) Individual Waits Feel Longer than Group - Now very likely in a line, we will have people who are standing by solo for their request in the line. In this manner, the performance hold up will feel longer than holding up in an organization of companions or additionally little converses with outsiders or conveying here and there. In this manner, the issue of solo holding up is a distress and it remains.

5 0
2 years ago
Other questions:
  • Identify the level of the literature hierarchy for u.s. gaap to which each item belongs
    10·1 answer
  • You have a loan outstanding. it requires making three annual payments of $1000 each at the end of the next three years. your ban
    11·1 answer
  • When using the two-second rule, if you reach the mark before you finish counting "one thousand two", you __________ A. are not f
    5·1 answer
  • Below is selected financial information for Panettone, Inc. Balance Sheet ($ in Millions) Income Statement ($ in Millions) Asset
    13·1 answer
  • Which of the steps listed below are part of the procurement process?a. Create transfer orderb. Create requisitionc. Send payment
    6·1 answer
  • The Cereal Bar, a fast-food restaurant that sells breakfast cereal, wanted to see if a different price for its Wild O's breakfas
    8·1 answer
  • According to the "Marketing and Selling Travel: The customer," people travel for business, for meetings, conventions, and semina
    8·1 answer
  • Sheffield Company is working on two job orders. The job cost sheets show the following.
    5·1 answer
  • Kelley Company and Mason Company each have sales of $200,000 and costs of $140,000. Kelley Company's costs consist of $40,000 fi
    12·1 answer
  • Recommend three life skills that can assist a grade 12 school leaver to adapt to the world of work in 2023.in each answer,also i
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!