Answer:
5.79 times
Explanation:
The computation of the Accounts receivable turnover ratio
= Credit sales ÷ average accounts receivable
where,
Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2
= ($46,400 + $49,700) ÷ 2
= $48,050
And, the net credit sale is $278,000
Now put these values to the above formula
So, the answer would be equal to
= $278,000 ÷ $48,050
= 5.79 times
Answer:
Explanation:
Failure of credit customers to pay their bills is considered a bad debt in Accounting. This is recored as a bad debt expense in journal entries in the <em>period when the credit sale occurred</em>. This ensures that these bad debt expense matches the revenues earned during that period. In a company's financial statements, bad debt expense is recorded in the Income statement as <em>selling expenses.</em>
Answer:
The price of baseball bats (a complementary good) increased
If the price of a complementary good increases, this would result in a decrease in demand for baseballs.
Explanation:
Answer:
Dr. Cr.
Purchases / Inventory $11,000
Promissory Note Payable $11,000
Explanation:
Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.
In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.
This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.
Answer:
The answer is stated below:
Explanation:
Select a limited number of alternatives to consider: For example, considering the top 3 alternative suppliers.
Then generate or create a list of as many as possible of alternative suppliers.
Rely on the gut in order to make a decision regarding the right number of alternatives when you feel the time is right.
Deciding or choosing the limited number of alternatives , this concept is known as the bounded rationality. For most of the businesses, this is the most realistic approach for dealing with alternatives.
