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Mars2501 [29]
3 years ago
7

19 Sold merchandise that cost $800 to Art Co. for $1,200 under credit terms of 2/15, n/60, FOB shipping point, invoice dated Jul

y 19. 21 Gave a price reduction (allowance) of $200 to Art Co. for merchandise sold on July 19 and credited Art's accounts receivable for that amount. 24 Paid Leight Co. the balance due, net of discount. 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount.
Business
1 answer:
EleoNora [17]3 years ago
6 0

Answer:

Accounts Receivables 1200 debit

Sales Revenues  1200 credit

--to record purchase--  

COGS  800 debit

Inventory  800 credit

--to record cost of goods sold  

sales allowance & returns 200 debit

accounts receivables  200 credit

--to record sales allowance--  

Cash                                 980 debit

sales allowance & returns 20 debit

       Accounts receivables        1,000 credit

--to record collection within discount date--

Explanation:

We record making debit = credit

we also consider that we are working with perpetual inventory thus, the discount granted and allowance will later decrease the net sales figure.

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​______ is a process in which an impartial third party helps those involved in a dispute reach an agreement.
Lostsunrise [7]

Answer:

Mediation

Explanation:

Mediation is the process in which an impartial third party help those involved in a dispute reach an agreement.

Mediation is the process which help the parties to settle at their disputes. The mediator is the one who do meeting with the parties separately or have joint sessions which help him to bring the disputed parties on one point. Mediation involves various steps:

  1. Mediator introduction
  2. Disputed parties statements
  3. Joint meetings and discussion
  4. Private meetings of mediator with parties
  5. Converge the parties on single point (Negotiation)
  6. Sign agreement ( Closing the agreement)
3 0
3 years ago
Classify the following as either a revenue or a capital expenditure.
Naily [24]

Answer and Explanation:

The capital expenditure is the expenditure which is held for a capital asset i.e fixed assets for improving life, production, etc. It is a one-time expenditure  

While on the other hand the revenue expenditure is the expenditure which is incurred on daily basis i.e frequently like repairs, maintenance

So based on the above, the classification is as follows  

a. Capital expenditure

b. Revenue expenditure

c. Revenue expenditure  

d. Capital expenditure

4 0
3 years ago
Joint stock companies were organizations meant to establish colonies in the americas by people from
Alex17521 [72]

Answer:

Britain

Explanation:

Once they landed in America, the British set up a joint stock company, which was the start of what we now recognize as a corporation These stocks were marketed to investors with the thought of getting some cash, which created minimal-risk capital.Citizens embraced the idea as there was minimal risk and significant benefit. It really is accurate, therefore, that joint stock companies were organisations planned by the British to create colonies in America.

7 0
3 years ago
Read 2 more answers
Golf Guide sells imprinted clothing and accessories for golfers through a catalog. To find new customers, Golf Guide sends a sma
kherson [118]

Answer:

Cost per customer acquired = $51.67

Explanation:

Customer acquired per thousand pieces mailed = 1000*6% = 60

Total cost per thousand pieces mailed A    $3,100

Divide by Customers acquired  B                <u>   60     </u>

Cost per customer acquired A/B                <u>  $51.67</u>

7 0
3 years ago
A detailed description of the typical consumer in a market segment is a(n) ___.
Debora [2.8K]
This would be a customer profile.
Hope this helps.

3 0
3 years ago
Read 2 more answers
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