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Ronch [10]
3 years ago
11

A buyer uses a periodic inventory system, and on December 7, it contacts a supplier to report that some of the merchandise it pu

rchased on December 5 was defective. The supplier was unwilling to accept a return of that merchandise, but instead offered to reduce the price by $400. The buyer agreed to keep the defective merchandise under these terms. Complete the buyer's necessary journal entry by selecting the Account Names and dollar amounts from the drop-down menus.
Business
1 answer:
Degger [83]3 years ago
7 0

Answer:

The journal entry in the books of buyer is as follows:

Explanation:

Accounts Payable A/c.....................Dr   $400

       To Merchandise Inventory A/c......Cr   $400

As the supplier offered him reduction in price instead of taking back the defective goods. So, the accounts payable account will be reduced by the amount which is reduced by the supplier in total amount of goods purchased by buyer. Therefore, the accounts payable account is debited and the account of merchandise inventory is credited.

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yuradex [85]

Answer:

Balance sheet

Explanation:

Balance sheet is referred to as the statement of assets and liabilities. Property plant and equipment are shown in balance sheet with a schedule of addition, deletion and depreciation is attached to it. Hence, the financial statement that would best display a company's plant, property and equipment used everyday is the Balance sheet.

4 0
3 years ago
When a nation’s currency appreciates, what is the most likely result?
vichka [17]
When a nation's currency appreciates that means there is an increase in the exchange rate. It would result to cheaper imports and lower inflation rates which would be advantageous to those countries who are importing goods. While a weak currency would be better for an economy that's exporting goods to other countries. 
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The data-mining technique that creates a report or visual representation is _____.
Helga [31]

Answer:

The data-mining technique that creates a report or visual representation is summarization.

Explanation:

The business world has changed drastically over the years in terms of marketing and service delivery because of growth in technology. The use of machines and internet has caused a greater need for access and analysis of information in such a way that can make a business thrive in the market. This means that most businesses have to look into better data-mining techniques that can assist them in the competitive business environment.

The different data mining techniques include; association-rule learning, classification, summarization and regression. They are explained further as follows:

1. Association-rule learning: this is a machine learning technique that discovers a relationship between large databases using the concept of strong rules.

2. Classification: this technique finds similarities in features of two or more data sets and groups them into the same category.

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4. Summarization: this technique takes the results from the data and puts it in a way that it is short and understandable by most people. It usually involves the use of tables and other data summarization software like Excel sheets to represent the data in a way that conclusions can easily be drawn. Data summarization is important especially in the digital world where large amounts of data are available for analysis and transfer. This technique helps in breaking down huge data into short comprehensible reports that can easily be used for quick decision making.

3 0
3 years ago
Which of the following statements about operations management in the service sector is most accurate? Operations management in t
VikaD [51]
Operations management in the service sector has grown more rapidly than the manufacturing sector. Operations management is the implementation aspect of management.
8 0
3 years ago
Read 2 more answers
An independent firm that offers connections and Electronic Data Interchange (EDI) transaction forwarding services to buyers and
weeeeeb [17]

Answer:

Value Added Network

Explanation:

Value Added Network -

It is the service , which is provided by some private firm , so that the company have a secure way to share the data , is referred to as value added network , VAN .

It is the most common method for the movement of the electronic data interchange ( EDI ) , in between two firm or companies .

Hence, from the given information of the question,

The correct term is Value Added Network VAN.  

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3 years ago
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