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
Irina18 [472]
3 years ago
13

Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offe

red a 15% price reduction. Gershwin would record this reduction by crediting Accounts Receivable and debiting:a. Sales Revenue.
b. Sales Discounts.
c. Sales Returns.
d. Sales Allowances.
Business
1 answer:
babymother [125]3 years ago
8 0

Answer:

The answer is D.

Explanation:

A sales allowance is a reduction in the price of goods or services that have been sold to a customer because of a defective or abnormality with good or service(for example in the question, wrong shade of painting).

Sales allowance is usually created after the price has been charged to the customer but before the customer pays.

Sales allowance is similar to sales discount just that sales discount is done to encourage sales.

You might be interested in
Which of the following statements is CORRECT? Question 9 options: The AFN equation for forecasting funds requirements requires o
EastWind [94]

AFN has negative and positive sides. The correct statement is A negative AFN indicates that retained earnings and spontaneous liabilities are far more than sufficient to finance the additional assets needed.

  • AFN is known as Projected increase in assets – spontaneous increase in liabilities – any increase in retained earnings.

When the AFN value is negative, it means the action or project that is underwork will bring about extra income for the company, which can be invested in another place.

Additional funds needed (AFN) is known as financial term used when a business intends to widen its operations.

Learn more About AFN from

brainly.com/question/13203205

3 0
3 years ago
What are accounts payable and accounts receivable?
Amiraneli [1.4K]

payable = money owed by a company to its creditors

receivable = money owed to a company by its debtors.

7 0
3 years ago
Read 2 more answers
PLEASE HELP ME!
Lelu [443]
I think the best answer would be D. Understand her costumer value<span />
3 0
4 years ago
Read 2 more answers
On December 1, Year 1, Childe Company purchased $100,000 of bonds issued by Paperman Company at face value. The bonds mature in
REY [17]

Answer: A- The bonds should be reported among assets in the balance sheet at December 31, Year 1.

B- The bonds should be reported at their fair value of $102,000 in the balance sheet.

D- An unrealized gain of $2,000 should be included in other comprehensive income for Year 1.

Explanation:

5 0
3 years ago
Assume that labor is a variable input. the average wage of workers increases in a purely competitive industry. this change will
Korolek [52]

Assume that labor is a variable input. The average wage of workers increases in a purely competitive industry. This change will result in an increase in marginal cost for firms in the industry and a decrease in the industry supply curve.

    Businesses may decide to request a wide variety of inputs. The most prevalent two are labor and capital in perfect competitive industry.

    Marginal labor output in terms of revenue. The firm decides how much labor to demand by examining the marginal revenue product of labor after it is aware of the level of demand for its production. The additional revenue the business makes by hiring one more unit of labor is known as the marginal revenue product of labor (or any input). The marginal product of labor has an association with the marginal revenue product of work. The value of the marginal product of labor in a market with perfect competition is the firm's marginal revenue product of labor.

To learn more about perfectly competitive market click here:

brainly.com/question/28081306

#SPJ4

6 0
2 years ago
Other questions:
  • Great Lakes Steel Supply is losing significant market share and thus its managers have decided to decrease the firm's annual div
    6·1 answer
  • Amherst City provides a defined benefit pension plan for employees of the city electric utility, an enterprise fund. Assume that
    8·1 answer
  • The trend in the poverty rate since the mid 1960's___________.
    9·1 answer
  • Capital markets can be divided into four main categories: private equity, public equity, private debt, and public debt. An examp
    5·1 answer
  • Why we do need change management
    6·2 answers
  • The following information pertains to the Flying Fig​ Corporation: Total Units for information given ​7,000 Fixed Cost per Unit
    12·1 answer
  • This may also be asked as "Why are you looking for a job?" This question can make the most seasoned interviewee squirm a little
    11·1 answer
  • Asteroid Industries accumulated the following cost information for the year: Direct materials $ 15,100 Indirect materials 3,100
    12·1 answer
  • Mekia is in high school. She is thinking about possible career choices. Her guidance counselor gave her information about severa
    15·1 answer
  • A unit volume objectives for pricing should be used judiciously because higher volume goals can sometimes result in Blank______.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!