The accounting entries for Rippen Corporation is recorded as follows:
December 3,
DR Accounts Receivable (Burnen Corp.) $480,000
CR Sales $480,000
DR Cost of Goods Sold $320,000
CR Inventory $320,000
December 8,
DR Sales Return $30,000
CR Accounts Receivable $30,000
DR Inventory $20,000
CR Cost of Goods Sold $20,000
December 12,
DR Cash $441,000
DR Credit Discount $9,000
CR Accounts Receivable $450,000
<h3>What is Journal Entry?</h3>
A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.
The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.
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Answer:
$5,456
Explanation:
A relevant cost can be defined as the cost that are said to be in form of a future cash cost that is relevant and important to a particular decision.
The relevant cost:
Current market cost 880 liters × Current market $6.20 per liter
= $5,456.
Therefore the relevant cost of the 880 liters of the raw material when deciding how much to bid on the special order will be $5,456
The cost when someone borrows money from someone else is known as interest.
<h3>What is interest?</h3>
Interest rate is the cost of borrowing. It is the amount the borrower pays the lender for use of their funds. It is usually a function of the amount borrowed, length of the loan and the interest rate.
For example, if a person borrows $1000 for 1 year at an interest rate of 10, the interest that would be paid is: $1000 x 0.1 = $100.
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They can be described as traumatized, horrified, mortified, etc.
The answer is "<span>They focus more on products than the customer's underlying need.".
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Marketing Myopia is marketing term as it shows by its name, referred to short-sighted and inward looking way to deal with promoting that spotlights on the requirements of the organization as opposed to characterizing the organization and its items as far as the clients' needs. It brings about the inability to check and accommodates to the quick changes in their business sectors or markets.
