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salantis [7]
3 years ago
14

--IMPORTANT--

Business
1 answer:
lina2011 [118]3 years ago
5 0

Answer:

See explanation

Explanation:

Some of the advantages and conveniences of buying internationally are as follows:

1. Revenues are expanding;

2. Competition among firms will be decreasing;

3. Diversifying the risk management;

4. Getting the chance to specialize (1);

The difference between buying a shirt made in Canada, but find the same one made in China is the availability of raw materials. The same raw materials can be found in various countries with the help of international trade. Transportation makes the difference either. The final difference is where you are staying. If you stay in Canada, you might get the Canadian shirt cheaper than the Chinese one. Again, if you stay in China, you might find the cheaper price in China. If you do not stay in both of the countries, it will be difficult to assume.

References:

1. Martinuzzi, B. (2018). What Are the Advantages of International Trade? Retrieved from https://www.americanexpress.com/en-us/business/trends-and-insights/articles/advantages-international-trade/

2. Herrera, S. (2018). International e-commerce: Advantages and disadvantages of marketplaces. Retrieved from https://www.handelskraft.com/2018/09/international-e-commerce-advantages-and-disadvantages-of-marketplaces-5-reading-tips/

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The journal entries have been shown below:

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Answer:

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April 13:

Debit Allowance for doubtful accounts             $6,530

Credit Accounts receivable                                $6,530

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May 15:

Debit Cash                                                          $3,270

Credit Accounts receivable                               $3,270

<em>(To record collection on account - Dan Pyle)</em>

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Credit Accounts receivable                               $5,410

<em>(To record write-off of accounts receivable - Dan Pyle)</em>

July 27:

Debit Accounts receivable                                $6,530

Credit Allowance for doubtful accounts           $6,530

<em>(To re-establish accounts receivable from Dean Sheppard)</em>

Debit Cash                                                          $6,530

Credit Accounts receivable                               $6,530

<em>(To record collection on account - Dean Sheppard)</em>

December 31:

Debit Allowance for doubtful accounts           $13,330

Credit Accounts receivable                              $13,330

<em>(To record write-off of accounts receivable - Miscellaneous)</em>

Explanation:

  • April 13: Shipway Company wrote-off account of Dean Sheppard, this means there would be a reduction in both allowance for doubtful accounts and accounts receivable.
  • The receipt on May 15 of $3,270 reduced the accounts receivable but increased cash. However, the write-off of $5,410 caused a reduction in both the allowance account and accounts receivable.
  • When there was a receipt of $6,530 on July 27, the accounts receivable would be reinstated and then adjusted for the cash receipt.
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Answer:

a. Sales Dollars

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