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
ankoles [38]
4 years ago
11

Lamps Unlimited, a wholesaler, sold several crates of lighting for $1,500 on account, to a customer with credit terms of 1/10, n

/30. If the customer pays within the discount period, the journal entry to record the receipt of payment would include:
Business
1 answer:
joja [24]4 years ago
4 0

Answer:

Dr Cash account 990

Dr Sales Discounts account 10

Cr Accounts Receivable account 1,000

Explanation:

The total sales discount is 1% x $1,000 = $10

Sales discount is a contra revenue account and since it increases, it should be debited

Cash is an asset account and since it increases, it should be debited.

Accounts receivable is an asset account and since it decreases, it should be credited.

You might be interested in
DUE TODAY PLEASE HELP T^T
jonny [76]

Answer:

i think its true

Explanation:

5 0
3 years ago
Read 2 more answers
As a new salesperson for a textbook publisher, Kylie is creating a list of professors that decide what texts their schools use.
spayn [35]

Answer: Option D

Explanation: Prospecting is the first step in a selling process. Under this the sales person identifies the potential customers and communicate with them to covert them into current customers.

Similarly, qualifying refers to analyzing the characteristics of a lead to determine if it qualifies as a prospect.

Hence from the above we can conclude that Kylie is performing the function of prospecting and qualifying.

4 0
4 years ago
DramPharma is a company that manufactures and sells medicine to treat Huntington's disease, a rare genetic disorder. The company
user100 [1]

Answer:

Defender Strategy

Explanation:

Defender Strategy -

It is the starter adapted by a company or organisation , to protect the company from the upcoming new competitors .

Therefore , the company tries to make some changes in the structure , technology and in the method of operations to maintain itself in the market .

hence , from the question data , DramPharma would most likely be categorized as a Defender .

8 0
3 years ago
On June 30, 2012, Mackes Company issued $5,000,000 face value of 13%, 20-year bonds at $5,376,150, a yield of 12%. Mackes uses t
mestny [16]

Answer:

Explanation:

a. Dr Cash   5,376,150

Cr Premium on bonds payable  376,150

Cr Bonds payable 5,000,000

b. Dr Interest expense 322,569

Dr premium on bonds payable 2431

Cr Cash 325,000

c. Dr Interest expense 322,423

Dr Premium on bonds payable 2577

Cr Cash 325,000

d. Dr Interest expense 322,269

Dr premium on bonds payable 2731

Cr Cash 325,000

4 0
3 years ago
You are the owner of a Comfort Inn and would like to hire a new general manager. In terms of preventing possible agency problems
Elanso [62]

Answer:

To avoid possible agency problems, <em>profit sharing</em> should be included in your offer

Explanation:

<em>Profit sharing</em> has to be included to ensure trust and to also gain the new general manager's trust

3 0
3 years ago
Other questions:
  • If the rate of inflation is 2.2% per year, the future price pt (in dollars) of a certain item can be modeled by the following ex
    10·1 answer
  • If the United States imports $10 million worth of goods from the Philippines, but the Philippines buys only $5million worth U.S
    15·1 answer
  • During its most recent fiscal year, Dover, Inc. had total sales of $3,160,000. Contribution margin amounted to $1,480,000 and pr
    10·1 answer
  • Which one of the following is not an ownership right of a stockholder in a corporation?
    8·1 answer
  • Explain four different groups or categories of people with whom the manager deals or works
    5·1 answer
  • A limited partner will be liable for business debts if he or she
    15·1 answer
  • Suppose that city leaders want to prevent the price of AA batteries from rising when tornadoes threaten Tulsa, Oklahoma. They im
    7·1 answer
  • I purchased my home for $297,000 in 2015. Today it is worth approximately $520,000. What has my compounded annual rate of return
    7·2 answers
  • Hunter is going to receive $3,000 in one year and he wants to know its equivalent value today. The process of determining the an
    8·1 answer
  • What is allowable self-employment plan contributions.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!