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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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kykrilka [37]

Answer:

“Should” or “should not” depend on the cost rate of the option and the risk appetite of investors.

Explanation:

An option is a contract that allows investors to buy or sell instruments such as security, Exchanged Traded Fund or an index at a pre-determined price over a certain period of time.

If the option will cost the investor an additional $10,000 and it is the cost for an option of $10 million investment, then it cost only 0.1% additionally, but it can secure the position of this investment; then the investor should buy this option.

Vice versa, if the additional $10,000 is much more than expected profit, and even lower but significantly drop down the total profit of an investment; and the investor always wish to have a high profit regardless high risk; then he shouldn’t buy this option.

6 0
3 years ago
Which of the following is not an example of how media coverage of the Space Race affected the economy?
mrs_skeptik [129]

Correct option: The media only covered positive elements of the Space Race and never mentioned any setbacks.

The above given option does not talk about any aspect of media coverage of the space race and its effects on the economy. Covering only positive aspect without explaining its economic implications does not have any positive or negative effect on any economic activity, externalities or economic well being of any country. On the other hand, option B , C and D talks about economic implications.


7 0
4 years ago
Read 2 more answers
Reserve ratio was 15% at the balance sheet the whole commercial banking system rather than for a single
larisa [96]

Reserve ratio was 15% at the balance sheet the whole commercial banking system rather than for a single <u>lend out or invest.</u>

<h3>What is commercial banking ?</h3>

A financial institution that accepts deposits, provides checking account services, makes different loans, and provides fundamental financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses is referred to as a "commercial bank." Most people conduct their financial business at commercial banks.

Commercial banks generate revenue through making loans, including mortgages, vehicle loans, business loans, and personal loans, and charging interest on those loans. The money needed to fund these loans is provided by customer deposits to banks.

  • Commercial banks provide basic banking services, such as deposit accounts and loans, to individuals and small to medium-sized businesses.
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To learn more about commercial banking  from the given link:

brainly.com/question/27793323

#SPJ4

5 0
2 years ago
If nominal gdp is $12 trillion and real gdp is $10 trillion, then the gdp deflator is
Juli2301 [7.4K]
<span>If nominal gdp is $12 trillion and real gdp is $10 trillion, then the gdp deflator is: </span><span>120, and this indicates that the price level has increased by 20 percent since the base year.</span>
<span>
GDP deflator reflect the effects of new prices to the product that produced domestically. 
It calculated with this equation:

GDP Deflator = GDP Nominal/Real GDP x 100

= 12 Trllion /10 Trillion   x 100
= 120</span>
6 0
3 years ago
It can be referred from the text that ...
Contact [7]

This question is incomplete because the text is missing; here is the missing part:

Text 1

1. Remove the back cover, using a small screwdriver to loosen the screw

2. Remove batteries and replace with two new AAA batteries. use the + and - signs to position correctly. dispose of used batteries properly.

3. Replace the cover and tighten the screw with the screwdriver

4. Reset the time using the side buttons

The GMX 200 is guaranteed to keep time accurately for one full year from date of purchase should it malfunction in any way during this time period, your money will be refunded in full.

The correct answer to this question is C. The users will get full refund if there is malfunction during the guarantee period.

Explanation:

This text provides instructions to change the battery in a GMX 200, which can be inferred it is a clock or similar device. This text explains the different steps users need to follow to change batteries. Moreover, in the last section of the text, it is clarified if there is any failure during the first year, which is the guaranteed time "your money will be refunded in full". According to this, it can be inferred during this time any malfunction implies the user gets a complete refund (option C.)

6 0
3 years ago
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