1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kherson [118]
3 years ago
12

Knowledge Check 01 Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount o

wed is now past-due. On June 15, Coolidge meets with Ross and convinces Ross to accept $400 cash and a 30-day, 10 percent, $600 note payable to replace the account payable. Prepare the June 15 journal entry for Coolidge entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
lubasha [3.4K]3 years ago
7 0

Answer:

Journal Entry is as follows;

June 15

<em>DR</em> Accounts Payable <u>$1,000</u>

<em>CR</em> Cash <u>$400</u>

<em>CR</em> Notes Payable <u>$600</u>

You might be interested in
Which fact supports the idea that renting is a good
kipiarov [429]

The fact that support the idea that renting is a good is Landlords take care of most maintenance.

<h3>What is renting?</h3>

Renting refers to an agreement where a payment is made for the temporary use of a good, service or property owned by another.

It is obtaining a owner's property, in return for regular payments.

Hence, the fact that support the idea that renting is a good is Landlords take care of most maintenance.

Learn more about renting here : brainly.com/question/13393299

#SPJ1

3 0
2 years ago
Which government policy will create the following results?
Scrat [10]

Answer:

Any type of government policy that restricts free trade and the movement of capital can trigger the aforementioned consequences. Thus, the limitation of companies to obtain economic benefits can make them decide to close their activities, leaving employees on the street (increasing unemployment), reducing the country's economic production (causing the country's real GDP to decrease), and ultimately, generating monetary lags due to lack of economic production, generating devaluations that lower the international price level of the country's products.

7 0
3 years ago
McCallister's just purchased $16,500 worth of inventory. The terms of the sale were 1/15, net 45. What is the implicit interest?
Greeley [361]

The implicit interest based on the information given is $165.

<h3>How to calculate the interest?</h3>

It should be noted that the implicit interest is calculated as:

= Inventory worth × Discount rate

= $16500 × 1%

= $165

Therefore, the implicit interest based on the information given is $165.

Learn more about interest on:

brainly.com/question/24080432

#SPJ1

3 0
1 year ago
The Consumer Electronics Show (CES) reports that the HP Spectre laptop computer starts at $994.00 for a base configuration. The
e-lub [12.9K]

Answer: $1312.41

Explanation:

The following information can be depicted from the question:

Cost of HP Spectre laptop = $1353

Credit terms = 3/15, net 30

Therefore, since discount allowed is 3%, the complement of the discount rate will be:

= 100% - 3%

= 97%

Therefore, amount needed to pay will be:

= Listed price × Complement of discounts rate

= $1353 × 97%

= $1353 × 0.97

= $1312.41

Therefore, the amount needed to pay is $1312.41

4 0
2 years ago
Valuetronics, an electronics company, is currently in the preproduction stage of launching one of its new stereo systems. In ord
Katyanochek1 [597]

Answer: Computer aided engineering(CAE) systems.

Explanation:

Computer aided engineering involves making use of computer softwares that aids production. The computer aided engineering software is used to design how product could look like, simulate the product on a computer system to determine the product's possible performance and to ensure the desired standard is met, before the design can then be used to carry out production. Computer aided engineering is commonly applied in automobile production and large buildings construction.

4 0
3 years ago
Other questions:
  • Which of the following are characteristics of public goods? Choose one or more: A. Public goods generally have a small value to
    5·1 answer
  • The Young Americans for Freedom: Question 9 options: believed that the free market assured personal freedom. worked in tandem wi
    8·2 answers
  • The jones company has just completed the third year of a​ five-year macrs recovery period for a piece of equipment it originally
    9·1 answer
  • Planning for the possibility that the plumbing in your house needs repair is part of a plan for _____. a. financing b. managing
    13·2 answers
  • A Registered Investment Adviser plans on offering options strategies as part of his services. For this added investment strategy
    7·1 answer
  • Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is the total
    6·1 answer
  • Safety is the responsibility of: <br> My supervisor<br> Everyone<br> My co-workers<br> Myself
    10·2 answers
  • If a person makes a deposit of 10000 or more into a bank account, the bank must notify the
    6·1 answer
  • On StatSim, how does a firm get their market share to increase?
    15·1 answer
  • Suppose that you have been given a summer job as an intern at Issac Aircams, a company that manufactures sophisticated spy camer
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!