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m_a_m_a [10]
3 years ago
7

Item 9Item 9 On September 12, Vander Company sold merchandise in the amount of $9,600 to Jepson Company, with credit terms of 2/

10, n/30. The cost of the items sold is $5,900. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Jepson makes on September 18 is:
Business
1 answer:
myrzilka [38]3 years ago
5 0

Answer:

Explanation:

2/10 , n/30 is a credit term arrangement where the seller agrees with the buyer that if payments are made within 10 days after purchase , he will enjoy a 2% discount or otherwise pay the full invoice amount at 30 days.

As Jepson paid on the 18th of the same month which is 9 days after purchase , he is entitled to 2% discount on the sales.

<u>Journal Entry</u>

September 8

Credit Sales  - $9,600

Debit receivable = $9,600

September 18

Debit Cash  - $9,408

Debit sales discount - $ 192

Credit receivable - $9,600

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Crigui Music produces 60000 CDs on which to record music. The CDs have the following costs: Direct Materials $13000 Direct Labor
gizmo_the_mogwai [7]

Answer:

$35,000 is the maximum amount that Crigui should pay

Explanation:

Total cost if manufactured internally;

Direct materials $13,000

Direct labor 15,000

Variable overhead 3,000

Fixed overhead 7,000

————

Total cost $38,000

Therefore, $38,000 - $3,000 (unavoidable cost) = $35,000

7 0
3 years ago
Greg has developed an automobile engine that runs efficiently for up to three hours on a single russet potato. His friends have
natulia [17]

Answer:

Correct option is (a)

Explanation:

For any venture to be successful, it starts with a vision or idea. In this case, Greg is confident that he will be able to convince US Car manufacturers to purchase his fuel efficient car even though his friends were doubtful if his product will be accepted by car manufacturers.

He also had a clear vision as his goal was to make US economy energy efficient. Vision is to have a positive outlook regarding future.

It can be inferred that Greg has both vision and confidence

4 0
3 years ago
Read 2 more answers
You have received a research report done by a consultant for your firm, a life insurance company. The study is a survey of moral
Semmy [17]

Answer:

The research report must have the following attributes:

  • Easy to read and prepared in very simple language
  • A good report must outlay all arguments and results, facts, and arguments in a way that aligns properly with the objective of the report
  • the report must be prepared on time
  • It must be straightforward. The presentation must be very well articulated, properly spaced, aligned using very clear font types.

Cheers

5 0
3 years ago
Why is VisionSpring, an organization devoted to the problem of poor eyesight in the developing world, classified as a hybrid mod
JulsSmile [24]

VisionSpring can be classified as a hybrid model of social entrepreneurship since it is devoted to the problem of poor eyesight in the developing world which is a social issue.

It should be noted that social entrepreneurship mixes economic logic with social logic.

Hybrid organizations are the enterprises that design the business models in order to alleviate a particular environmental or social issue. Since VisionSpring is devoted to the problem of poor eyesight in the developing world, it's a hybrid organization.

Learn more about entrepreneurship on:

brainly.com/question/13628349

4 0
2 years ago
Cheng builds replica miniature cabinets. His costs for each cabinet are $28 each. A consultant tells Cheng that the average marg
Masteriza [31]

Answer:

check the calculations below.

<em>You didn´t post the complete information of the exercise, I searched the exercise online and tried to ask the most useful question.</em>

Explanation:

a) current margin = Sale price - Cost

= $42 - $28 = $14 per unit

(b) Selling price if margin is 49%

= Cost / (1-0.49)

= 28 / 0.51

= $55

Profit = 55*49% = 227

(c) Price to consumer = Selling price / (1-0.1)

= 55/ 0.9

= $61.1

(d) Price to Consumer = Selling price from Chengg + Margin

= 61 + 10 = $71

5 0
4 years ago
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