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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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Type the correct answer in the box. Spell all words correctly. Over the last decade, George’s company has been intentionally red
PtichkaEL [24]

George’s company is reacting to the <u>Market  economic system.</u>

Explanation:

  • In a <u> Market Economy system </u>the organizations are run by the people.People determine how the economy runs,how supply are generated and how demands are met.
  • <u>The Market Economy System </u> relies/depends upon the consumption choices of the customer.
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6 0
3 years ago
1 . Perpetuities Perpetuities are also called annuities with an extended or unlimited life. Based on your understanding of perpe
Dmitrij [34]

Answer:

(A) A perpetuity is a stream of regularly timed, equal cash flows that continues forever

(B) The value of a perpetuity is equal to the sum of the present value of its expected future cash flows

the bank offers 1.6%

in the alternative scenario it offers 1.067%

Explanation:

(A) A perpetuity is a stream of regularly timed, equal cash flows that continues forever

The perpetuity is an annuity in which time tends to infinity, to be qualified as an annuity the cash payment must be regular.

(B) The value of a perpetuity is equal to the sum of the present value of its expected future cash flows

As state above the perpetuinty is an annuity, the annuities return the present value of the expcted future cash flow.

Given the annuity formula

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

if times tends to infinity then the expression:

\lim_{n \to \infty} (1+r)^{-n} = 1

Nexti n the annuity formula we got:

C \times \frac{1-1 }{rate}= PV\\

So we end up with C / rate = PV

which s the perpetuity formula

800/50000 = 0.016       = 1.6%

800/75000 = 0.0106667 = 1.067%

7 0
3 years ago
On January 1, 2009, Diego owed $14,033 to his friend Ricardo, who was kind enough not to charge Diego any interest. Each month d
aleksandrvk [35]

Answer:

$481

Explanation:

Amount paid = Amount lent - Amount left

Amount paid = $14,033 - $8,261

Amount paid = $5,772

Average amount paid each month = Amount paid / Number of months

Average amount paid each month = $5,772 / 12

Average amount paid each month = $481

So, the average amount of Diego's monthly payments is $481.

6 0
3 years ago
Consider the following scenarios:
Oliga [24]
Scenario 2 would be correct
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Mr. Rodriguez is caring his suitcase to his room. He sees a sign indicating that elevators are ahead. Now, he knows where he is
DiKsa [7]

Answer:poop

Explanation:

4 0
2 years ago
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