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andreev551 [17]
3 years ago
6

The Giles Agency offers a 8% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s Ant

iques decides to purchase advertising services of $3,300 (not including the trade discount), while Michael’s Motors purchases only $680 of advertising. Both services are provided on account.
Record both transactions for Giles Agency, accounting for any trade discounts.
Business
1 answer:
zalisa [80]3 years ago
7 0

Answer:

Accounts receivable - Audrey's Antiques      $3036 Dr

              Service Revenue                                     $3036 Cr    

Accounts Receivable - Michael's Motors      $680

               Service Revenue                                     $680

Explanation:

Both the services are provided on account which means that the services are provided on credit and cash against these services are yet to be received. Thus we debit the accounts payable that will be creadted because of these services and credit the service revenue.

The company gives 8% trade discount for sevices above $1000 and as Audrey's Antiques receives services of $3300 it will receive the trade discount while Michale's motors will not receive it.

The trade discount is provided on the list price and it is not recorded in the books of accounts. Thus the service provided to Audrey's will be recorded at 3300 - (3300 * 0.08) = $3036.

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The bond will sell for the amount of $869.17

Explanation:

According to the given data coupon amount = 50/2 = 25

Therefore, in order to calculate the selling price of the bond we would have to make the following calculation:

selling price of the bond = 25 * PVIFA(3%,52) + 1,000 * PVIF(3%,52)

selling price of the bond= 25 * 26.1662 + 1,000 * 0.2150

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The bond will sell for the amount of $869.17

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3 years ago
The period before a trial takes place is called the
nadezda [96]

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The answer would be A.

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Discovery process, finding the facts.

4 0
2 years ago
Which type of organizational purchase situation is characterized by high purchase importance and complexity, a large and evolvin
yaroslaw [1]

Answer:

New Task

Explanation:

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For instance, an organization that purchases raw resources for the first time  to produce devices.

7 0
3 years ago
What is the maximum IRA contribution that Mr. Janson can make under each of the following assumptions? He is age 20 and single.
vladimir1956 [14]

Answer:

He is age 20 and single. His only income item is $12,100 interest from a trust fund. NO CONTRIBUTION SINCE HE HAS NO EARNED INCOME

He is age 40 and single. His only income item is a $34,900 share of ordinary income from a partnership. MAXIMUM CONTRIBUTION OF $6,000

He is age 60 and single. His only income item is $21,300 wages from his job. MAXIMUM CONTRIBUTION OF $7,000

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In 2019, the limit for RA contributions increased by $500 to:

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8 0
3 years ago
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Answer:

Bond,treasury

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A bond refers to the contract between borrower and lender stipulating that the borrower must pay periodic interests and principal on specified dates .

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