Answer And Explanation:
Please see answer and explanation attached
Answer:
Debit Accounts receivable $2170
Credit sales revenue $2000
Credit State tax $120
Credit Local tax $50
Explanation:
When sales are made on credit, the entries required are debit Accounts receivable and credit Sales revenue.
Considering the taxes, the entries would then be grossed by the tax percentage and the grossed amount is debited to accounts receivable while the taxes are credited to the tax payable account.
State tax
= 6% * $2,000
= $120
Local tax
= 2.5% * $2,000
= $50
Total receivable
= $2000 + $120 + $50
= $2170
Answer:
$527,615.08
Explanation:
The formula that describes the present value of an investment compounded semiannually is:
For a future value of $630,000 obtained at a 6% annual rate for 3 years, the present value is:
Maria's gift is worth $527,615.08 today.
Answer:
a. content accuracy
Explanation:
The FTC, or Federal Trade Commission regulated the content of ads, it prohibits unfair or deceptive. Ads are therefore regulated in order to show the truth to the consumer, avoiding any misleading.
I hope you find this information useful and interesting! Good luck!
