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Maru [420]
3 years ago
10

Giorgio Italian Market bought $4,000 worth of merchandise from Food Suppliers and signed a 90-day, 6% promissory note for the $4

,000. Food Supplier's journal entry to record the sales transaction is:A. Debit Accounts Receivable $4,000; credit Sales $4,000B. Debit Notes Receivable $4,000; credit Sales $4,000C. Debit Accounts Receivable $4,060; credit Sales $4,060D. Debit Notes Receivable $4,060; credit Sales $4,060E. Debit Notes Receivable $4,000; debit Interest Receivable $60; credit Sales $4
Business
1 answer:
Maurinko [17]3 years ago
4 0

Answer:

B. Debit Notes Receivable $4,000; credit Sales $4,000

Explanation:

Notice we are asked for hthe entry in the supplier's book:

The supplier will take the note thus, it will ahve a note receivable as in the future it expect to receive a cashflow.

The interest will be accrued over time, so are ignored for the moment

The supplier also has to recognize the amount of sales revenue earned with the sale.

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34. Which of the following statements is correct? a. If oligopolists successfully collude, then their combined output will be eq
grandymaker [24]

Answer:

The correct answer is option d.

Explanation:

If oligopolists are able to collude successfully, they will be able to fix price and output similar to a monopoly.

In order to maximize profits, the oligopoly firms keep their prices higher than a perfectly competitive firm but lower than monopoly. The output level is kept higher than a monopoly firm but lower than a perfectly competitive firm.

5 0
3 years ago
Springer Products manufactures three different product lines, Model X, Model Y, and Model Z. Considerable market demand exists f
Zina [86]

Answer:

Model Y

Explanation:

Calculation for the which model is the most profitable to produce

Using this formula

Most profitable to produce=Selling price-Direct materials-Direct labor-Variable support costs

Let plug in the formula

Model X $52 - $8 - $16- $5 = $23

Model Y $60 - $8- $16 - $10 = $26 Most profitable

Model Z $74- $8 - $33 - $10 = $24

Therefore the model that is the most profitable to produce is MODEL Y because it has the highest amount of $26

5 0
3 years ago
Brandon wants to purchase new furniture for his home but does not want his purchases to put him into debt. brandon loves being s
m_a_m_a [10]
Creating an investment account
6 0
3 years ago
Pedro wants to open his own business. To get a loan for the business, the bank needs him to give them some collateral. What is a
elixir [45]

Answer:

see below

Explanation:

Collateral refers to a valuable asset that a borrower offers to a lending institution to guarantee that they will repay the requested loan. Usually, collateral has a higher value than the loan amount. Collateral reduces the risk to the lender, which translates to lower interest rates.

Examples of assets that Pedro can use as collateral include.

1. Motor Vehicles

2. Properties such as land and Buildings

3. Machinery and equipment

4. Inventory

6 0
3 years ago
. Assume you are participating in your employer's direct deposit program. On payday, the employer deposits your ________ into yo
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On pay day, the employer deposits your NET SALARY into your bank account.
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3 years ago
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