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77julia77 [94]
2 years ago
13

On November 10 of the current year, Flores Mills provides services to a customer for $8,000 with credit terms 2/10, n/30. The cu

stomer made the correct payment on November 17. How would Flores record the collection of cash on November 17?
Business
1 answer:
Licemer1 [7]2 years ago
3 0

Explanation:

The journal entry is as follows

On November 17

Cash A/c Dr                   $7,840

Sales Discount A/c Dr $160

                  To Accounts receivable    $8,000

(Being cash received recorded)

The discount would be

= Accounts receivable × percentage given

= $8,000 × 2%

= $160

The remaining amount would be credited to the cash account.            

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Matt and Sarah are selling their home and moving to a new neighborhood. Sarah is going to start college in the fall. She did NOT
marshall27 [118]

Answer:

Matt and Sarah can withdraw the following two types of funds: higher education and medical expenses . While they cannot withdraw any funds for their new home that they are moving into because that will cost them the 10% penalty.

Hope that answers the question, have a great day!

6 0
3 years ago
The following information applies to the questions displayed below.
lana [24]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
7 0
2 years ago
If the CEO of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager),
Rudik [331]

Answer:

a. The division’s basic earning power ratio is above the average of other firms in its industry.

Explanation:

All the rest of the option in the question results in less efficiency of the company's division. In order to achieve a better grade Option A is the only choice.

7 0
3 years ago
Mega Media Cable TV is able to purchase an exclusive right to sell a premium sports channel in its market area. Let's assume tha
Montano1993 [528]

Answer:

A) If Mega Media sets the price at $25, 23,000 sports viewers will subscribe to their sports channel. Their profit will = (23,000 x $25) - $100,000 = $575,000 - $100,000 = $475,000

B) If Mega Media sets the price at $150, only 3,000 sports viewers will subscribe to their sports channel. Their profit will = (3,000 x $150) - $100,000 = $450,000 - $100,000 = $350,000

C) Since Mega Media is not able to price discriminate, then it should charge only $25 a year for the subscribing to the sports channel since at that price their profit will be $475,000.

D) If Mega Media could price discriminate, its profit = (20,000 x $25) + (3,000 x $150) - $100,000 = $500,000 + $450,000 - $100,000 = $850,000

6 0
3 years ago
Your Godmother left you an inheritance of ​$100,000​, payable to you when you turn 26 years old. You are now 21.​ Currently, the
KIM [24]

Answer:

The offer should be accepted

Explanation:

It is known that the amount $100,000 will be paid to someone when he turns 26 years. The current age is 21 years.

the 5-years bond is given 3.1 percent of interest rate.

another option for the person is offered $103,021.02 right away which is the present value.

The present value of the $100,000 that is going to be received after 5 years is calculated as follows;

Present value =  Amount to be received /(1+interest rate/100)^t

                        = 100,000/(1+ 3.1/100)⁵

                         = 100,000/ 1.031⁵

                         = $85,843.35

Therefore, the present value is $85,843.35 for the amount $100,000 to be receive after five years.

Since the amount  $103,012.02 he was offered is greater than the present value of his inheritance after 5-years, the person should accept the offer  and forget about the inheritance of $100,000.

6 0
3 years ago
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