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melomori [17]
3 years ago
5

Which of the following journals would a company use to record cash collections from customers, net of discounts taken?

Business
1 answer:
erastova [34]3 years ago
6 0

Answer:

b. Cash receipts journal.

Explanation:

When cash will be collected from customers net of discounts cash receipts journal will be used.

As at time of sale customers account will be debited and at the time when the payments will be received cash receipts journal will be debited and customer's account will be credited and accordingly, since cash is received and specific it is, General Journal will not be affected, and cash disbursements journal will also not be affected.

Also, as there are no purchases purchase journal will also not be affected, and sales journal will be affected at time of sale but not at he time of receiving payments from customers.

Thus, correct answer is

b. Cash receipts journal.

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The average do-it-yourself bedroom makeover costs $475 with a standard deviation of $86 (fictional data). tanya redoes her daugh
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When required, the information provided to the data subject in a HIPAA disclosure accounting …
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A. must be more detailed for disclosures that involve fewer than 50 subject records.

Explanation:

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When required, the information provided to the data subject in a HIPAA disclosure accounting must be more detailed for disclosures that involve fewer than 50 subject records.

3 0
2 years ago
ABC Hospital invests $5,095,000 in a joint venture with a reputable oncology group and the hospital agrees to a 55% interest in
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Answer:

Year Cash Flow Cumulative Cash flow Discounted Cash Flow(8.9%) 0 $5,095,000 $5,095,000 $453,455 1 $1,500,000 $3,595.000 $3,141,5452 $3,000,000 $ 595,000 $141,5453 $4,500,000 ($3,905,000) $3,4515454 $6,500,000ABC Hospital will get ROI in 3 years, this option I would recommend to the CEO.

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8 0
3 years ago
If the U.K. exports 14 billion British Pounds of​ products, and imports 10 billion British pounds of​ products, its trade balanc
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Answer:

D) 4 billion British pounds

Explanation:

Trade balance or balance of trade can be defined as the difference between a country's export and import at a particular period of time.

It could be a deficit or surplus.

Deficit trade balance refers to when the export of a country is less than it's import. This means more products are imported that exported.

Surplus trade balance refers to when export of a country is more than the import.

Import is the bringing in of goods from a foreign country. This means a particular country purchase goods from another country.

Export is the sending out of goods to a foreign country. That is the selling of goods to another country.

Trade balance= Export- Import

=14 billion British pounds- 10 billion British pounds

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The trade balance that occurs here is surplus trade balance where export is more than import.

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