Answer:
Betty Incorporated
Journal Entries:
June 3:
DR Inventory $7,100
CR Accounts Payable (North Inc.) $7,100
To record the purchase of goods on account with terms 2/10, n/30.
June 5:
DR Accounts Payable (North Inc.) $2,600
CR Inventory $2,600
To record the return of goods on account.
June 6:
DR Inventory $2,500
CR Accounts Payable (South Corp.) $2,500
To record the purchase of goods on account with terms 2/10, n/30.
June 11:
DR Accounts Payable (North Inc.) $4,500
CR Cash Account $4,410
CR Cash Discount $90
To record the payment of balance owed to North Inc.
June 22:
DR Accounts Payable (South Corp.) $2,500
CR Cash Account $2,500
To record the payment of balance owed to South Corp.
Explanation:
The trade terms 2/10, n/30 mean that both North Inc. and South Corp. offered 2% cash discounts on amount paid by Betty Incorporated if it could settle its bills within 10 days. The net allowed credit days are 30 days, after which Betty Incorporated could be charged interest for late payment. It did not utilize the discount offered by South Corp. as it paid its bills after 16 days instead of within 10 days as stated in the trade terms.
Answer:
Gift tax is not an issue for most people
Explanation:
The person gifting files the gift tax return, if necessary, and pays any tax. If someone gives you more than the annual gift tax exclusion amount ($15,000 in 2020), the giver must file a gift tax return.
Answer:
Two-way flow
Explanation:
Personal selling is one of the methods used by salespeople to drive sales. It involves face-to-face interaction with customers who are persuaded to purchase the product.
This method relies heavily on effective communication mostly the two-way flow of communication.
Two-way flow of communication means that when a message is conveyed to the customer there is feedback to the salesperson. The feedback is used to decide the best course of action to be taken in order to complete the transaction
Answer:
Density of propane = 17.8 g/L
Propane is more priced than gasoline
Explanation:
Given:
Temperature, T = 298 K
Pressure, P = 10 bar = 0.987 × 10 = 9.87 atm
now,
Molar mass of propane, M = 44.1 g/mol
From ideal gas law
⇒ PV = nRT
here,
n is the number of moles
R is the ideal gas constant = 0.0821 L.atm/mol.K
also,
Density, D = 
or
V = 
and,
nM = mass
thus,
V = 
substituting in the ideal gas relation
we have
P = 
or
D = 
or
D = 
or
D = 17.8 g/L
Now,
1 gallon = 3.78 Liter
Therefore,
5 gallon = 5 × 3.78 Liter = 18.9 Liter
Thus,
mass of 5 gallon propane = Volume × Density
= 18.9 Liter × 17.8 g/L
= 336.42 g
or
= 0.336 kg
also it is given that Price of 5 gallon propane i.e 0.336 kg = $30
Therefore,
Price per kg = 
= $89.28
and,
Mass of 5 gallons i.e 18.9 Liter gasoline = Density × Volume
= 0.692 g/cm³ × 18.9 Liter
also,
1 L = 1000 cm³
thus,
= 0.692 g/cm³ × 18.9 × 1000 cm³
= 13078.8 g
or
= 13.078 kg
Therefore,
Price per kg of gasoline = 
= $2.29
hence, propane is more priced than gasoline
