(C) Increase liabilities (Accounts payable) by $337.8 million.
<h3>
What is inventory?</h3>
- Inventory, often known as stock, refers to the items and supplies that a company keeps for the purpose of resale, manufacturing, or use.
- Inventory management is largely concerned with establishing the shape and positioning of stocked products.
<h3>
What is purchasing on credit?</h3>
- A credit buys, sometimes known as purchasing anything "on credit," is a purchase made today that will be paid for later.
- When you use a credit card, for example, your financial institution pays for the products or services upfront and then collects the payments from you later.
- Purchase on credit refers to an increase in liabilities.
Therefore, the correct option is (C) Increase liabilities (Accounts payable) by $337.8 million.
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Answer:
July 24 Cash $1470 Dr
Discount allowed $30 Dr
Account Receivable $1500 Cr
Explanation:
The receipt of payment for accounts due will cause a credit to accounts receivable for that particular debtor along with a debit to cash as payment is received. However, as there were some sales returns, the outstanding amount in the accounts receivble account was sales less sales returns that is 3100 - 1600 = 1500.
The terms state 2/10, n/30 which means 2% cash discount is allowed if payment is made within 10 days of sale. The payment is made within 10 days, as July 24 falls under this period so cash received will be 1500 * 98% = 1470.
While Accounts recevables will be reduced by 1500. The difference of 30 is discount allowed and it is an expense and will be debitted.
The process of associating numerical amounts to the elements in the financial statements is called <u>Measurement</u>.
Financial statements are written data that supply a business enterprise's industrial company activities and economic performance. economic statements are regularly audited through authorities corporations, accountants, corporations, and so forth. to ensure accuracy and for tax, financing, or investing functions.
"Probable future monetary blessings obtained or controlled by way of a particular entity because of beyond transactions." property. Disclosure refers to the system and further records within the Financial statements and notes.
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Answer:
Support services.
Explanation:
An activity required for successful execution of a product or program or process is known as Support service.
<span>This is important because drugs are needed to be digested and taken into the body, but in the case of a fast and necessary situation, the drug can into the body quicker being injected. Additionally, the drug can get into the blood stream quicker this way.</span>
