Plz help need more word

On August 2, Jun Co. receives a $8,000, 90-day, 11.0% note from customer Ryan Albany as payment on his $8,000 account receivable

GarryVolchara [31]

Answer:

August 2 Notes Receivable 8000 Dr

Accounts Receivable- Ryan 8000 Cr

October 30 Interest receivable 220 Dr

Interest Revenue 220 Cr

October 31 Cash 8220 Dr

Notes Receivable 8000 Cr

Interest Receivable 220 Cr

Explanation:

When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.

On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.

Interest Receivable = 8000 * 11% * 90/360 = $220

We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.

On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.

8 0

4 years ago

Call Systems Company, a telephone service and supply company, has just completed its fourth year of operations. The direct write

shepuryov [24]

Answer:

Year Sales Written Off Accounts

Year of Origin

Uncollectible 1 2 3

1st $ 900,000 $4,500 $4,500

2nd 1,250,000 9,600 3,000 $6,600

3rd 1,500,000 12,800 1,000 3,700 $8,100

4th 2,200,000 16,550 1,500 4,300 $10,750

Year Bad Debt Expense

Expense Actually Expense Increase Balance of Allowance

Reported Estimated (Decrease) Account Year End

1) $4500 $ 9000 $4500 $ 4500

2) $ 9600 $12500 1900 $ 6400

3) $12800 15000 2200 $ 8600

4) 16550 22000 5450 14,050

Explanation:

The actual write off accounts originating in the years were

1) ( $ 4500+ $ 3000+ $ 1000+ $ 1500)= $ 9500

2) ( $ 6600+ 3700+ 4300) = $ 14600

3) ($ 8100+ $ 10,750)= $ 18,850.

Only the first year written off accounts are close to expense if it would have been calculated to 1% of sales ( 1% of $ 900,000) = $ 9000

4 0

3 years ago

FitWear Inc, a sporting goods footwear and apparel company, features photographs of celebrities wearing its brand of clothing an

Bess [88]

Answer:

B. opinion leaders

Explanation:

Opinion leadership is leadership via the user who used the active media in order to interpretation the meaning of the message related to media or for the lower end media users

It is to be done for high esteem in the case of acceptance of their opinions

As the individuals influence the common people so it is a opinion leaders

since they are individuals influencing common people

5 0

3 years ago

Gilberto Company currently manufactures 70,000 units per year of one of its crucial parts. Variable costs are $1.80 per unit, fi

AnnZ [28]

Answer:

The company should continue making the unit. It is cheaper than buying by $7,000.

Explanation:

Giving the following information:

Variable costs are $1.80 per unit

fixed costs= $70,000 per year

Purchasing price per unit= $2.90

I will assume that the fixed costs (not allocated) are avoidable.

First, we need to calculate the total cost of making the unit:

Total cost= 70,000*1.8 + 70,000= $196,000

Buying:

Total cost= 70,000*2.9= $203,000

The company should continue making the unit. It is cheaper than buying by $7,000.

7 0

4 years ago

Page(s) 345-346 11.1. What is price discrimination? Order the following businesses based on the likelihood that the firm will be

MissTica

Answer: i just need points sorry

Explanation:

5 0

3 years ago