Answer:
July 24 Cash $1470 Dr
Discount allowed $30 Dr
Account Receivable $1500 Cr
Explanation:
The receipt of payment for accounts due will cause a credit to accounts receivable for that particular debtor along with a debit to cash as payment is received. However, as there were some sales returns, the outstanding amount in the accounts receivble account was sales less sales returns that is 3100 - 1600 = 1500.
The terms state 2/10, n/30 which means 2% cash discount is allowed if payment is made within 10 days of sale. The payment is made within 10 days, as July 24 falls under this period so cash received will be 1500 * 98% = 1470.
While Accounts recevables will be reduced by 1500. The difference of 30 is discount allowed and it is an expense and will be debitted.
Answer:
<em>Adjustments help to ensure that </em><em><u>asset </u></em><em> balances are reported at amounts representing the economic benefits used during the period.</em>
The precise date varies but the year is certain. Jean Ribault attempted to settle Charlesfort in 1562. This piece of land is nowadays known as South California. The colony of Charlesfort failed because he couldn't come back and bring more resources because he was imprisoned after a revolution. When he eventually came back he found it to be completely abandoned.
Answer:
A. socialist elements in the US Economy
Explanation:
Socialism is shared costs and shared resources. While the US economy is not socialistic, it does have elements of socialism through certain government programs.
I think it’s Option D
Society and it’s individuals have unlimited wants
