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Basile [38]
3 years ago
12

Piper Company sells merchandise on account for $1,800 to Morton Company with credit terms of 2/10, n/30. Morton Company returns

$600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Piper Company make upon receipt of the check?
Business
1 answer:
NNADVOKAT [17]3 years ago
3 0

Answer:

The journal entry is as follows:

Cash A/c Dr. $1,176

Sales returns and allowances A/c Dr. $600

Sales discounts A/c Dr. $24

       To accounts receivable                $1,800

(To record the receipt of the check)

Workings:

Sales discount = 2% of ($1,800 - $600)

                        = 0.02 × $1,200

                        = $24

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Why can a price discriminating monopolist be both more profitable and more efficient (i.e., produce greater net benefits for soc
STatiana [176]

Answer:

The Correct answer is "Because it supplies a higher quantity of output than a single price monopolist"

Explanation:

A cost segregating monopolist charges distinctive cost to various gathering of shoppers based on their capacity to pay, which empower it to create higher amount than a non-separating monopolist.  Since it supplies a higher amount of yield than a solitary value monopolist.

3 0
3 years ago
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Dole Corp.'s accounts payable at December 31, 2020, totaled $900,000 before any necessary year-end adjustments relating to the f
IRINA_888 [86]

Answer: $1,400,000

Explanation:

The checks to creditors were only mailed out in January so the creditor accounts had not been settled in December.

The goods purchased on December 28 should be included in the accounts payable account.

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Accounts payable is therefore:

= 900,000 + 350,000 + 150,000

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7 0
2 years ago
Bond market values are expressed as a percentage of their par (face) value. For example, a company's bonds might be trading at 1
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The current market price of the bond is 103% of their par value

What percentage is the bond price compared to its par value?

The market bond convention is to quote the price at which the bond can be bought or sold in the market as a percentage of its par value.

The simple approach is to add a percentage sign to any bond price you are given, which means that 97 price means the bond price is 97% of par value.

In the same vein, 103 price means the quoted price of the bond is 103% of the par value of the bond/

Find a futher guide on bond pricing below:

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8 0
2 years ago
Consider the following case: John Smith is a archaeologist with a Ph.D. He has excavated sites across much of South America and
STatiana [176]

According to the case, the use of Ph.D. on the ads for hair care products by John Smith is considered an example of the fallacy of inappropriate expertise.

The provided statement is true.

<h3>What is a fallacy?</h3>

A fallacy is an unlawful statement that is used by someone in stating any reasoning or argument which can even be harmful to society.

In the given case, John is having Ph.D. degree in the archaeology field, and his attempt to use the word Ph.D. on the haircare goods marketed by him would be a fallacy in respect of inappropriate expertise. The fallacy could be the use of the Ph.D. word on ads and the inappropriate expertise is that he doesn't have any knowledge regarding skincare and dermatology area.

Therefore, this may create a harmful effect on the individuals who are buying them as it is not authorized by a dermatologist.

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5 0
2 years ago
Interest begins accruing on a _____ the day of the transaction.
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Interest begins accruing on a __<span> cash advance </span>___ the day of the transaction
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its the date at which money is being transected from bank
so correct option is B
hope it helps
6 0
4 years ago
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