Answer:
The journal entry for the following economic activity is given below.
Explanation:
Interest revenue = 6000*12% * 91/360 = 182
Date Account Title Dr Cr
Oct 31 Cash 6,180
Notes receivable 6,000
Interest revenue 180
The criteria would a private, nonprofit university follow in determining whether to recognize donated services revenue both a and b.
What is revenue?
Revenue is the cash that a firm generates via its operations. Depending on the accounting technique used, there are several ways to compute revenue. Sales made on credit will be included as revenue for products or services provided to the client under accrual accounting. Revenue may be recognized in accordance with certain standards even though payment has not yet been made.
The cash flow statement must be examined in order to determine how well a business collects debts. Contrarily, cash accounting only counts sales as income when money has been exchanged. A "receipt" is a payment made to a business; receipts can exist without income.
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Answer:
This would be a good choice.
Explanation:
Emailing the departments the summary would be the best way to get them the information because it would be time-consuming to tell each person or hand them each a separate notes sheet. An email is a professional and easily accessible way to share information with a large number of people.
