Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Gasoline is a normal good
Explanation:
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls
Inferior goods are goods whose demand falls when income rises and increases when income falls.
Because the demand for gasoline falls when income falls, gasoline is a normal good.
I hope my answer helps you
Answer:
formed a valid contract because Rachel's outward expressions showed the formation of a contract.
Explanation:
In contract, outward expressions refers to a situation when both parties has directly communicate the terms of a certain transaction and agreed upon it.
The contract is considered as 'valid' and considered to be a verbal agreement as soon as Rachel proposed a price and Julius agreed upon it.
One thing to remember, Even though this contract is considered as valid , it would be hard for Julius to held Rachel accountable to court since he has no way to proof that the verbal agreement has been made.
Answer:
Explanation:
c:what type of business the person is in
that is the only logical answer lol
hope it helps
Answer: Cash $1,960
Sales returns and allowances $800
Sales discount $40
Accounts receivable $2,800
Explanation:
Sales = $2,800
Sales returns = $800
Discount rate = 2%
The final amount due will be:
= Sales- Sales returns
= $2,800 - $800
= $2,000
Sales discount = 2% × $2,000 = $40
Cash received will be:
Final amount due - Sales discount
= $2,000 - $40
= $1,960
The journal entry will be:
Debit Cash $1,960
Debit Sales returns and allowances $800
Debit Sales discount $40
Credit Accounts receivable $2,800
