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devlian [24]
3 years ago
6

Giorgio Italian Market bought $11,000 worth of merchandise from Food Suppliers and signed a 45-day, 8% promissory note for the $

11,000. Food Supplier's journal entry to record the sales transaction is:
Business
1 answer:
Masja [62]3 years ago
5 0

Answer:

                                                Dr.          Cr.

Purchases / Inventory         $11,000

Promissory Note Payable                  $11,000

Explanation:

Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.

In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.

This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.

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A car dealer advertises a rock-bottom price for a sports utility vehicle that usually goes for $1,000 or more. When you get to t
maria [59]

Answer:

b. bait pricing

Explanation:

Bait pricing strategy is one that is aimed at attracting customers by presenting a price that is lower than the actual value of a product. Usually the product is limited in quantity and when buyers come in they are convinced to buy something else.

This is considered an illegal means of marketing.

I'm the given instance when the customer got to the dealership the salesperson can't find that particular car on the lot, saying maybe it was sold this morning before he got in. The salesperson offers a higher-priced car.

This is bait pricing strategy.

3 0
3 years ago
Identify the business manager who first "discovered" the beatles, changed their stage look from leather to matching suits, and s
Yuki888 [10]
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8 0
3 years ago
Amortization is:Select one:A. The process of allocating to expense the cost of a plant asset to the accounting periods benefitin
Anvisha [2.4K]

Answer:

The correct answer is option B.

Explanation:

Amortization is a technique used in accounting. It involves the process of spreading payment over multiple periods. In accounting, amortization refers to the allocation of the cost of intangible assets over its lifetime.

For instance, amortization of a loan means spreading the interest and principal of the loan over its lifetime. It means fixed monthly payments of interest and principal.  

4 0
3 years ago
By the end of jane eyre, to what extent is jane now equal with rochester? what changes in each of their conditions account for t
Ostrovityanka [42]
It is possible to question Jane Eyre’s proto-feminism on the grounds that Jane only becomes Rochester’s full equal (as she claims to be in the novel’s epilogue-like last chapter) when he is physically infirm and dependent on her to guide him and read to him—in other words, when he is physically incapable of mastering her. However, it is also possible that Jane now finds herself Rochester’s equal not because of the decline Rochester has suffered but because of the autonomy that she has achieved by coming to know herself more fully.<span />
7 0
3 years ago
Compare investment alternatives You have two investment opportunities. One will have an 8% rate of return on an investment of $1
nasty-shy [4]

Answer:

15%

Explanation:

The maximum rate of return that would be paid to borrow an additional $4,000 needed can be calculated as

Rate of return =\frac{Amount of interest}{Amount borrowed}

Rate of return = $600/$4000

Rate of return = 0.15 or 15%

NOTE: The amount of interest is the difference of interest earned at higher yield and interest earned at a lower yield.

Interest earned (higher yield) = $10,000 x 8%

Interest earned (higher yield) = $800

Interest earned (lower yield) = $14,000 x 10%

Interest earned (lower yield) = $1,400

Difference = $1,400-$800

Difference = $600

3 0
3 years ago
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