Answer:
June 15
Dr. Account Receivable $24,000
Cr. Service Revenue $24,000
At the time of Receipt in July
Dr. Cash $24,000
Cr. Account Receivable $24,000
Explanation:
As the Services are performed on June 15, and Great Venture has a right to received the payment against the services provided. So, the revenue is recognized and The payment for the services has not been made yet. This result in the creation of account receivable, That is expected to receive in July.
In July the payment is received. The cash account will be debited as the cash is received and on the other hand account receivable will be credited to remove the due balance of $24,000 from receivables balance.
<h2>team members begin to settle into their roles as team members.
</h2>
Explanation:
Stages of development: forming, storming, norming, and performing
The given scenario is the third stage of team development
By now the team would have understood what to expect and from whom they should expect
Here now, the difference of opinion would have been resolved, friendship or collaboration would have been formed.
Accept team goals, there will definitely be an increase in the performance, working together effectively, etc.
All other options refers to other stages of development.
Answer:
Reduction in supply
Explanation:
Equilibrium is when demand matches supply. At the equilibrium price, the market has no excess demand or supply or demand. Changes in either supply or demand affects the equilibrium price and quantity.
A reduction in supply while demand remains constant results in buyers competing for few products in the market. A scarcity will emerge as the supply cannot satisfy demand. The supply curve shifts outwards or to the right creating a new equilibrium point. The new price will at a higher point in the graph, and the quantity will decrease.
