Answer:
D) have customers who operate in many different parts of the country.
Explanation:
A lockbox is basically a bank mailing address where a company's clients can send their payments to. It is similar to mailbox that receives letters, only that this one receives checks and cash. The bank is in charge of opening the lockbox and depositing the cash and checks to the company's account, and reporting the information.
Answer:
B.check with a credit and information management company
Answer:
$5,000
Explanation:
Consequential damages are damages that result from the one party in a contract not performing their part or breaching the contract.
In this case, New Data can sue Mona for consequential damages resulting from Mona not performing her contractual obligations. The damages that New Data can recover = $5,000 which is the profit from the lost sale. The $1,000 spent fixing the computer cannot be recovered.
Answer:
Increasing Canadian GDP:
-Toyota, a Japanese company, manufactures cars in Toronto, Ontario.
-ATI Technologies, a Canadian company, operates in Alberta.
Increasing American GDP:
-Toyota, a Japanese company, manufactures cars in San Antonio, Texas.
-Starbucks, a U.S. company, opens stores in New York state.
-Tim Horton's, a Canadian company, opens coffee shops in New England.
Explanation:
Gross domestic product (GDP) is the sum of all final goods and services produced in an economic space for a certain period, usually one year, excluding the intermediate consumption used in production. Until the 1980's, the use of Gross National Product (GNP) was preferred, a measure almost identical to GDP but incorporating goods and services produced by external factors. The variation in this macroeconomic magnitude is often used to measure economic growth.
Answer:
The company should credited on the Cash account and the Cash Discount Receipt for the settlement of the inventory with 10 days.
Explanation:
The detailed entry will be:
19th Sep
Dr Account Payable $40,000
Cr Cash $39,200
Cr Cash Discount Receipt $800
( to record payable settlement and the receipt of cash discount)
Working note: As the company paying with 10 days, the supplier will allow a 2% discount on it net inventory purchase ( 44,000 - 4,000 = $40,000)
Thus, the discount will be 40,000 x 2% = $800 and Cash repayment will be 40,000 x (1-2%) = $39,200.
