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KonstantinChe [14]
2 years ago
6

Q 3.53: During the month of August, Jackson Products recognizes $15,000 in revenues. Jackson's accounting staff records these re

venues by entering a $15,000 debit in the firm’s Revenues account and a $15,000 credit in the Accounts Receivable account. What, if any, effect will this entry have on Jackson’s financial statements?
Business
1 answer:
soldi70 [24.7K]2 years ago
4 0

Answer:

This journal entry is incorrectly recorded making the company's net income decrease in its income statement, retained earnings are decreased in its retained earnings statement, and its assets (receivable account) and the equity of its shareholders both decrease in your balance sheet

Explanation:

The right Journal entry is:

D Account receivable          15000

C Revenue                                            15000

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Answer:

sharing information across the organization.

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In contrasting equity and efficiency, why do high-tech firms seem to treat their employees better (better wages, benefits, worki
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Explanation:

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2 years ago
Donald is given the assignment by his PR firm to prepare a news release designed to be distributed through online search engines
IrinaK [193]

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3 years ago
Consider Miray's decision to go to college. If she goes to college, she will spend $24,000 on tuition, $12,000 on room and board
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Answer:

Total cost of going to college= $45,900

Explanation:

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5 0
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Kathy is taking a break from her job so that she can reflect on solving a problem that she is having. Kathy is demonstrating Gro
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