Which term applies to the unofficial communications that take place among employees in an organization?

Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 3/10, n/60 and an

saveliy_v [14]

Answer:

Santa Fe Retailing ( Buyer )

(a) the purchase,

Merchandise $24,900 (debit)

Account Payable - Mesa Wholesalers $24,900 (credit)

Being Recognition of Merchandise Purchased

(b) cash payment within the discount period,

Account Payable - Mesa Wholesalers $24,153 (debit)

Cash $24,153 (credit)

Being Recognition of Payment Made

(c) cash payment after the discount period

Account Payable - Mesa Wholesalers $24,900 (debit)

Cash $24,900 (credit)

Being Recognition of Payment Made

Mesa Wholesalers ( Seller)

(a) the purchase,

Trade Receivable - Santa Fe Retailing $ 24,900 (debit)

Revenue $ 24,900 (credit)

Being recognition of Revenue on Sale

Cost of Sales $16,982 (debit)

Merchandise $16,982 (credit)

Being recognition of Cost of Sale

(b) cash payment within the discount period,

Cash $24,153 (debit)

Trade Receivable - Santa Fe Retailing $24,153 (credit)

Being Recognition of Payment Received

Discount Allowed $747 (debit)

Trade Receivable - Santa Fe Retailing $747 (credit)

Being Recognition of Discount Granted to Customer

(c) cash payment after the discount period

Cash $24,900 (debit)

Trade Receivable - Santa Fe Retailing $24,900 (credit)

Being Recognition of Payment Received

Explanation:

Santa Fe Retailing ( Buyer )

Buyer Recognizes Assets of Merchandise purchased and de-recognise cash when payment is made

Mesa Wholesalers ( Seller)

Seller Recognises revenue and Cost of Sale on the date of Sale

Seller also recognise Cash Receipts and Discount Allowed Expense (whenever payment is made within 10 days as in our case)

7 0

3 years ago

If the nominal interest rate is 5 percent and there is a deflation rate of 2 percent, what is the real interest rate?(A) 7 perce

Alex787 [66]

Answer: Option (A) is correct.

Explanation:

Given that,

Nominal interest rate = 5%

Deflation rate = 2 %

Real interest rate = Nominal interest rate + Deflation rate

= 5% + 2 %

= 7%

If a country is experiencing a deflation then the real interest rate is greater than the nominal interest rate.

5 0

3 years ago

How does critical thinking relate to peer assessment

allochka39001 [22]

Your Sickening and no one finna answer ur question

8 0

3 years ago

Which two tasks does an industry safety and health engineer perform?

kolezko [41]

Answer:

They both care for the well-being of people and they also keep people safe.

I'm assuming

8 0

3 years ago

On April 1, 2019, Lester Company received a bank statement that showed a balance of $8,950. Lester showed an $8,000 checking acc

Lesechka [4]

Answer:

Bank Reconciliation Statement

Balance at Bank as per updated Checking Account $8,730

Add Unpresented Cheques

Check No. 115 $750

Check No. 118 $370 $1,120

Less Lodgements not yet credited ($900)

Balance as per Bank Statement $8,950

Explanation:

The first Step is to update the Bank Balance in the Cash Book as follows :

Debit :

Cash Balance before adjustments $8,000

Credit Transfers $1,400

Totals $9,400

Credit:

Printing Charges $20

Dishonored Cheques $250

Error; Atm Drawings $400

Balance as per updated Cash Book $8,730

Totals $9,400

Then, Prepare a Bank Reconciliation Statement 

Bank Reconciliation Statement

Balance at Bank as per updated Checking Account $8,730

Add Unpresented Cheques

Check No. 115 $750

Check No. 118 $370 $1,120

Less Lodgements not yet credited ($900)

Balance as per Bank Statement $8,950

6 0

3 years ago