<u>Answer</u> is C. net income of the period
A is wrong because withdrawals by owners would only reduce the credit and not add anything to it.
B is also wrong since debiting the retained earnings will also decrease the equity so it will result in a net loss for the company.
Answer is C since crediting the net earning implies that the organization earned some profit which would increase the equity.
D is wrong too because the initial investment does not go to the retained earnings.
Answer: $1,274
Explanation:
Credit terms of 2/12, n/30 mean that the buyer is allowed a 2% discount if they pay in 12 days otherwise they would have to pay the full figure in 30 days.
Borth returned $300 so the net merchandise value they bought it;
= 1,600 - 300
= $1,300
Check was sent within discount period;
= 1,300 * ( 1 - 2%)
= $1,274
I'm pretty sure that cotton production, dye production, and metal production etc. <span>are associated with making a pair of jeans if we talk about primary. Secondary is about receiving materials for jeans' production.</span>