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
shtirl [24]
3 years ago
11

Jervis sells $75,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 5% f

actoring fee. What entry should Jervis make to record the transaction?

Business
1 answer:
Natasha2012 [34]3 years ago
4 0

Answer:

Debit cash by $71,250, factoring expense by $3,750 and credit account receivable by $75,000.

Explanation:

Step 1 of 2

Calculate the amount of factoring fee.

Factoring fee = 5% ×Account Receivable

=5%×$75,000

=$3,750

​

Step 2 of 2. Journey record. Image attached.

Debit cash by $71,250, factoring expense by $3,750 and credit account receivable by $75,000.

You might be interested in
Select the correct answer.
Ksenya-84 [330]

Answer: E. she can now work as a trainee with an expert

Explanation:

Since Jessica hopes to get an entry level job in an audit firm, the professional organization will help her in her quest as she can now work as a trainee with an expert.

By joining the professional organization, she'll get the work experience that's needed when she finally get the role on the audit firm. She would have learned from a professional who's experienced and this will be vital in her getting into the workforce.

4 0
2 years ago
When do children develop their eating habits and physical activity patterns?
user100 [1]

Answer: It varies based on the foods and activities offered to a child

Explanation: Children behave differently as regards eating as some prefer some kind of food over others. Majorly the environment a child finds himself can hugely affect the child's way of behavior which includes food eaten and physical activity engaged in by the child.

This is a product of adaptation common to humans.

6 0
3 years ago
You and a friend are designing and selling artisan smartphone covers. The covers are decorated with tiny manufactured rhinestone
barxatty [35]

Answer:

1. Capital

Explanation:

Capital refers to the resources that are used to generate value. This, through the manufacture of other goods or services or by obtaining profits or profits on the possession or sale of securities.

Capital is one of the four factors of production along with land, labor and technology. It is characterized by understanding all durable goods that are destined to the manufacture of other goods or services. Thus, for example, an oven is part of the capital of a baker since he uses it to cook bread (another good) and the services he delivers will last for several years.

To produce goods or services, capital must be combined with other productive factors. The precise combination will depend on the technology used and the characteristics of the good or service produced.

Capital increases the productivity of the other productive factors. However, if capital remains fixed and the rest of the factors increase, the productivity increase will be decreasing (marginal productivity law decreasing).

Capital also refers to the financial resources that are invested in a given project for manufacturing or selling services. In addition, interest gains or other financial gains are also considered capital

6 0
3 years ago
what would you do if you were offered a promotion that you were not certain about accepting? What factors would you take into ac
Sati [7]

Answer:

Answer

Explanation:

I would most likely accept the promotion.

Several factors would influence my decision.

- The new scope of responsibilities

This will include all the additional risks and tasks that I will get by accepting the promotion. Taking new responsibilities might sound scary, and many people will be discouraged by this. But at some point, all great leaders are someone without any experience too. As long as we are open to criticism, we will adapt to our new responsibilities.

- the new pay raise

Economic gain usually comes with promotion. It will motivate me to do more for the company.

- The likelihood of me getting another promotion chance

Chances like this do not come often in our life. The fact that I'm offered a promotion means that the higher up has reviewed my previous work result and determine that I'm the best option for them. I would not let this chance go to waste.

3 0
3 years ago
Read 2 more answers
How are business entrepreneurs and social entrepreneurs different?
julia-pushkina [17]

Both approaches fulfill a need in the market and aim to earn a sustainable profit. The main difference is that social entrepreneurship focuses beyond simply generating a profit, and measures its performance on the positive impact the business makes on society – whether social, cultural or environmental.

5 0
3 years ago
Read 2 more answers
Other questions:
  • ____ describes the period of time in a twenty-four-hour period that is spent at work.
    9·2 answers
  • In early January 2019, Blue Corporation applied for a trade name, incurring legal costs of $15,400. In January 2020, Blue incurr
    15·1 answer
  • Why do cats have such small incisors?
    8·2 answers
  • A disadvantage of the mall-intercept survey is:
    11·1 answer
  • The total factory overhead for Bardot Marine Company is budgeted for the year at $1,760,850, divided into four activities: fabri
    8·1 answer
  • The solicitation of a consumer's consent (called "opt-in") to receive email and advertising based on personal data supplied by t
    6·1 answer
  • An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy c
    9·1 answer
  • What business approach has enabled walmart to drive prices down and react to market conditions more quickly?
    9·2 answers
  • Descriptive account does not capture all that is involved. (T/F)true or false​
    9·1 answer
  • Venture capital required rate of return. Blue Angel Investors has a success ratio of with its venture funding. Blue Angel requir
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!