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Solnce55 [7]
3 years ago
10

Buyer Bill will receive a utilities bill for an estimated $300 at the end of the month. At closing, the seller has used an estim

ated $100 of the bill. What should appear on the closing statement?
a) a debit to the seller and credit to the buyer for $200
b) a debit to the seller and credit to the buyer for $100
c) a debit to the buyer and credit to the seller for $200
d) a debit to the buyer and credit to the seller for $100
Business
1 answer:
liraira [26]3 years ago
5 0

Answer:

b) a debit to the seller and credit to the buyer for $100

Explanation:

The portion of the utilities bill consumed by the seller is not to be borne by buyer Bill, he cannot be made to pay for what he did not consume, the correct treatment is for seller to bear the $100 consumed by him by way of the following entries

Debit  The seller $100

Credit  Buyer bill $100

This is in the spirit of fairness to both Buyer Bill and Seller.  

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________ products are less frequently purchased consumer products and services that customers compare carefully on suitability,
Lostsunrise [7]

Answer:

A) Shopping products                                          

Explanation:

The reason is that the people who is spending money on product that he will wear or carry it with him / her definitely spends higher time in appraising the quality, the style he or she desires, price charged according to his purchasing power and is the product fits best or not. So these all things are considered by the person who is interested in shopping products.

4 0
3 years ago
Joshua borrowed $1,000 for one year and paid $100 in interest the bank charged him a service charge of $10 what is the finance c
andrew-mc [135]

Answer:

1000-100-10 = 890 dollars left

He needs 110 dollars to pay the money he borrowed back.

Explanation:

hope this helps

3 0
2 years ago
If the maker of a promissory note fails to pay the note on the due date, the note is said to be A. displacedB. disallowedC. dish
nalin [4]

Answer:

The answer is C: dishonored

Explanation:

When the maker of a promissory notes fails to pay on the due date, the promissory note is called dishonored. With a promissory note, a buyer makes a short-term commitment to pay a supplier for merchandise within a stated period of time and at a certain interest rate. The maker of the note is the party promising to make payment, the payee is the party to whom payment will be made, the principal is the stated amount of the note, and the maturity date is the day the note will be due.

It is called dishonored because the maker made a promess to pay a determined amount in a period of time. By failing at honoring it's word, the note its called dishonored.

4 0
3 years ago
_____________________ turned Russia in to a massive command economy.
Levart [38]

Answer:

Vladimir Lenin

Explanation:

Lenin's beliefs as he took power in Russia lead to a new economic policy called the NEP, transforming Russia into a mass command economy. The NEP in 1922, became a central economy that owned the means of production. Factories, capital and other factors in production of goods and services were directed by the state.

4 0
3 years ago
Read 2 more answers
9. Assume that you just won $35 million in the Florida lottery, and hence the state will pay you 20 annual payments of $1.75 mil
Morgarella [4.7K]

Answer:

$11.47 million

Explanation:

The present value of an annuity is determined by:

PV = P*[\frac{1-(1+r)^{-n}}{r}]

With annual payments (P) of $1.75 million, for a period (n) of 20 years at a discount rate (r) of 6 percent, the present value is:

<u />PV = 1.75*[\frac{1-(1+0.06)^{-20}}{0.06}]\\PV=\$11.47\ million<u />

The present value of your winning is $11.47 million

8 0
3 years ago
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