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marin [14]
2 years ago
12

On April 2, KLV sold $30,000 of inventory items on credit with the terms 1/10, net 30. Payment on $18,000 sales was received on

April 8 and the remaining payment on $12,000 sales was received on April 27. Assuming KLV uses the net method of accounting for sales discounts, the entry recorded on April 27 would include a:a. debit to Cash and credit to Accounts Receivable for $11,880.b. debit to Accounts Receivable and credit to Sales Discount Forfeited for $120.c. debit to Accounts Receivable and credit to Sales Revenue for $30,000.d. debit to Cash and credit to Sales Discount Forfeited for $300.
Business
1 answer:
yuradex [85]2 years ago
7 0

Answer:

b. debit to Accounts Receivable and credit to Sales Discount Forfeited for $120

Explanation:

The last payment of $12,000 it's without discount because was not made within the 10 days, so it's necessary to Debit Cash by $12,000 and reverse the accrual for the remaining $120 discount offered not applied.

The it's necessary to record this entry:

b. debit to Accounts Receivable and credit to Sales Discount Forfeited for $120

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Earleton Manufacturing Company has $2 billion in sales and $600,000,000 in fixed assets. Currently, the company's fixed assets a
bearhunter [10]

Answer:

The correct answer is $2,500,000,000.

Explanation:

According to the scenario, the computation of the given data are as follows:

Operating capacity = 80%

Sales = $2 billion

Fixed assets = $600,000,000

So, we can calculate the level of sales by using following formula:

Level of sales = Sales ÷ operating capacity

= $2,000,000,000 ÷ 80%

= $2,500,000,000

7 0
3 years ago
Harvey is an auto dealer at Vonga Automobiles. As part of his team, he is required to directly call potential customers and conv
Naily [24]

Answer: Sales orientation

Explanation:

A firm that makes use sales orientation is focused on making its products and services very good and affordable. When a sales orientation strategy is adopted, the goal is to sell many goods and services without the firm worrying about marketing to its target audience.

The idea is that by making a product or service that is superior and being sold at the right price, which is combined with aggressive sales tactics, firms can convince people to purchase whatever they are selling. With the explanation, we can infer that the company Harvey works for uses a sales orientation.

4 0
3 years ago
Insurance is the way a person or business is protected from :
nevsk [136]

Answer:

losing money

Explanation:

Helps save you from the out of pocket expense if something bad were to happen.

For example if your roof was damaged by a natural disaster it could cost thousnads of dollars out of a persons pocket.

Insurance will pay the cost to repair it allowing you to be protected from losing money.

3 0
2 years ago
Sean, age 37, sold the home he purchased three years ago and now rents an apartment. he had originally purchased his home for $8
ZanzabumX [31]
28,800     is the answer
                                                                                                                                       
6 0
3 years ago
At&t, verizon, and t-mobile serve more than 95 percent of the subscribers in the u.s. wireless mobile phone market. which fo
solmaris [256]

More than 95% of customers in the US wireless mobile phone market are served by AT&T, Verizon, and T-Mobile. This market is characterized by oligopolistic rivalry.

How large is the market for cell phones?

In 2021, the market for smartphones was estimated to be worth USD 457.18 billion. A 7.3% CAGR is predicted for the market throughout the forecast period as it increases from USD 484.81 billion in 2022 to USD 792.51 billion in 2029.

The market for smartphones is it expanding?

Since 2008, the smartphone market has been continuously expanding and increasing in size as well as in terms of the variety of models and providers. In 2022, it is anticipated that there will be 1.43 billion smartphones shipped globally. 78.05% of people on the planet will have smartphones by the year 2020.

To know more about mobile phone market

brainly.com/question/28041325

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8 0
1 year ago
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