Answer:
Payment history. Payment history is the most important ingredient in credit scoring, and even one missed payment can have a negative impact on your score. ...
Amounts owed. ...
Credit history length. ...
Credit mix. ...
New credit.
Explanation:
Answer:
$2,134
Explanation:
Calculation of the amount of the Net sales revenue
First step
Since we were been told that Weston sold the merchandise with a cost of $1,257 for $2,200 with the terms of 3/15 this means we are going to find the 3% of $2,200 calculated as:
3%*$2,200=$66
Second step is to deduct the $66 from the cost of $2,200,in order to find the Net Sales Revenue of Weston Jewelers
Net Sales Revenue =$2,200-$66
Net Sales Revenue=$2,134
Therefore the Net Sales Revenue of Weston Jewelers will be $2,134
Answer:
<u>Adjusting entries:</u>
April 30, legal fees
Dr Legal fees expense 3,500
Cr Legal fees payable 3,500
April 30, accrued interest
Dr Interest expense 3,000
Cr Interest payable 3,000
April 30, wages expense
Dr Wages expense 4,000
Cr Wages payable 4,000
<u>Subsequent entries:</u>
May 12, legal fees
Dr Legal fees payable 3,500
Cr Cash 3,500
May 20, paid interest
Dr Interest expense 6,000
Dr Interest payable 3,000
Cr Cash 9,000
May 3, wages expense
Dr Wages expense 4,000
Dr Wages payable 6,000
Cr Cash 10,000
Answer:
Credit to Prepaid insurance for $400 and Debit to Insurance expense for $400
Explanation:
The journal entry is given below:
Insurance expense ($4800 × 1 ÷ 12) $400
Prepaid Insurance $400
(To record insurance expense)
Here the insurance expense is debited as it increased the expense and credited the prepaid insurance as it decreased the assets