Answer:
Accounts Receivable $8,820
To Sales Revenue $8,820
Explanation:
The journal entry to record the sales revenue is shown below:
Accounts receivable A/c Dr $8,820
To Sales revenue A/c $8,820
(Being merchandise sold on credit basis)
For recording this we debited the account receivable as it increased the assets and credited the sales revenue as it also increased the revenue
The computation of sales revenue is shown below:
= Sales revenue - discount
= $9,000 - $9,000 × 2%
= $9,000 - $180
= $8,820
This is the answer but the same is not provided in the given options
Answer:
When we invest ourselves into a project or a team, its our expertise and skills that we put in that project etc, works as Downpayment for it. When it comes to relation other than professional relationship like friendship then its our loyalty, behavior and understanding with that person that makes him/her reliant on us.
Explanation:
Answer:
a. classifies expenses by function.
Explanation:
Multiple step format of income statement has the distinction of classifying expenses based on function as direct cost (non operational cost) and indirect cost ( operational cost).
Direct cost is cost that can be directly traced to the product like cost of raw materials.
Indirect cost is not directly linked to the product and includes salaries, rent, marketing cost, research and development, accounting fees, and legal fees.
Single step format on the other hand does not divide expenses based on function, but states the simplified revenue and expense of a business.
Answer:
Option (c) $100
Explanation:
Data provided in the question:
Amount of car loan = $10,000
Now,
With increase of 50 points of credit score, the interest rate reduces by 1 percent
Therefore,
The amount of saved for the first year i.e for 1 year will be calculated using the formula
Interest = Principle × Rate × Time
Interest = $10,000 × 1% × 1
= $10,000 × 0.01 × 1
= $100
Hence,
Option (c) $100
