Answer:
c
Explanation:
lie is not the right term to use in this situation because the salesperson didn't really lie its more of he left some facts about the expensive converter box which is best expressed as omission
Ummmm ... ok will not have any money and I can get a new phone I can do that and then you make me wanna play and I will go back on Monday if it’s a little bit of the above I
Answer:
Business
Explanation:
The extensive use of data and quantitative analysis to support fact-based decision making within organizations.
Answer:
a. Groupo sells goods to MTN for $1,000,000, payment due at delivery.
- transaction price = $1,000,000
- revenue recognized once the goods are delivered
No journal entry is required until goods are delivered and accepted.
b. Groupo sells goods on account to Grifols for $800,000, payment due in 30 days.
- transaction price = $800,000
- revenue recognized immediately since goods were already delivered
The journal entry:
Dr Accounts receivable 800,000
Cr Sales revenue 800,000
c. Groupo sells goods to Magnus for $500,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $464,000.
- transaction price = $480,000
- revenue recognized immediately since goods were already delivered
The journal entry:
Dr Notes receivable 500,000
Cr Sales revenue 480,000
Cr Discount on notes receivable 20,000
