1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
likoan [24]
3 years ago
15

A customer purchased a $2, 700 item at Appliance World, paying with a credit card. Appliance World is charged a 2% fee by the cr

edit card company. When recording this sale, Appliance World would: A. debit accounts receivable for $2, 700. B. credit sales revenue for $2, 700. C. credit sales revenue for $2, 646. D. credit unearned sales revenue for $2, 700.

Business
1 answer:
dalvyx [7]3 years ago
4 0

Answer:

B.

Explanation:

Credit card is one of the most common way of making payment while a customer purchases anything in the market. The credit card company charge an amount that is payable by the seller.Thus, it is an expense for the one selling the product.

Given:

Credit card fee: 2%

Sales = $2,700

Credit card charges can be calculated as:

Credit card charges = Sales*Credit card fee

Credit card charges = $2,700*2%

Credit card charges = $54

Now, credit card charge is an expense so it will be debited. The amount is yet to be received so accounts receivable will also be debited. The revenue has been earned so it will be credited.

Thus, the journal entry for the given transaction has been attached below:

You might be interested in
The organization that supervises internet addressing is ___________.​
Vlada [557]
<span>The organization that supervises internet addressing is "ICANN".


</span>ICANN stands for the "Internet Corporation for Assigned Names and Number", and it refers to a non-profit association in charge of organizing the support and strategies of a few databases identified with the namespaces of the Internet, guaranteeing the system's steady and secure operation.ICANN plays out the technical maintenance work of the Central Internet Address pools and DNS root zone registries in accordance with the Internet Assigned Numbers Authority (IANA) work contract.
8 0
3 years ago
Read 2 more answers
Magellan is adding a project to the company portfolio and has the following​ information: the expected market return is 11.6​%,
fredd [130]

Answer:

The beta of the new project is 1.475

Explanation:

The beta is the measure of systematic or market risk associated to a stock. The beta is used in the calculation of the required/expected rate of return under the CAPM model. The CAPM model uses the following formula to calculate the required/expected rate of return,

r = rRF + Beta * (rM - rRF)

Plugging in the available variables, we can calculate the value of the beta.

0.154 = 0.036 + Beta * (0.116 - 0.036)

0.154 - 0.036  =  Beta * 0.08

0.118 / 0.08 = Beta

Beta = 1.475

6 0
3 years ago
My neighbor, martha, ran into my house crying and angry. "my car has been stolen!" she gasped. "i saw them take it!" i called th
victus00 [196]
This is an unfortunate financial situation that Martha experienced. Her car with a brown (1.body) and black roof color was stolen. She then called the police to  have it blotter. The police asked her if she has (2.paid ) her loan since the bank or dealer has a right to (3. confiscate). She confessed that she was unable to pay her duties because the written language was too complicated to (4.understand). A big home-improvement loan is also (5. along) with the car loan. It's difficult for her to pay since the city is suffering from (6.financial crisis). So, she consulted a debt counselor and have the service for free and come up with the(7.options) of having a regular job or pay willingly in full. They both made up a plan that would (8.constitute) a comprehensive budget. Finally, she made a promised to pay (9.small) amount each month to companies she's indebted. They've also talked about comprehensive actions to take when she's facing a (10.similar) scenarios again.
3 0
3 years ago
Draw a graph which depicts long run equilibrium of transnet
Nookie1986 [14]
I will not be able to illustrate the graph in the dialog box but instead, the writer will describe the long-run equilibrium of transnet. Long-run equilibrium in economics focuses on the period of time where the resource is still available and what is its costs and quantity produced. 
8 0
3 years ago
You work for a firm producing fitness equipment. You have been told that the demand curve for the​ firm's main​ product, a​ mult
kirill115 [55]

Answer:

b. quantity with price as the explanatory variable because the demand curve is linear.

Explanation:

A linear demand curve can be defined as the graphical representation of the relationship between the quantity of goods or services that are being demanded by the consumers and the price of the goods or services at a specific period of time.

Generally, the x-axis of the graph is used to represent the price of the goods or services while the y-axis of the graph is used to represent the quantity of goods or services that are being demanded by the customers at a specific period of time.

In this scenario, You work for a firm producing fitness equipment and have been informed that the demand curve for the​ firm's main​ product, a​ multi-station home​ gym, is linear. Also, you have been provided with price and quantity data obtained from focus groups and have been asked to run a regression of revenue on price.

Hence, a linear functional form can properly be used to​ estimate quantity with price as the explanatory variable because the demand curve is linear.

Additionally, according to the law of demand, as the price of a particular product or service increases, there will be a decrease in the quantity that is being demanded by the consumers.

4 0
3 years ago
Other questions:
  • Which of the following is NOT one of the credit reporting agencies?
    14·1 answer
  • Logistics Trucking Company operates a fleet of fuel trucks. When one of the trucks is positioned to receive a load of biofuel, i
    14·1 answer
  • Davis's child attends a school operated by the church the family attends. Davis made a donation of $1,000 to the church in lieu
    13·1 answer
  • If Cute Camel ever goes bankrupt, its common stockholders will be paid off first, then its debtholders and preferred stockholder
    9·1 answer
  • What category of the Thomas-Kilmann Conflict Mode Instrument involves giving in to the customer at the expense of the organizati
    5·1 answer
  • Modern environmentalism works with businesses to promote sustainable development. Please select the best answer from the choices
    6·2 answers
  • Assume you are the manager of Assembly, Inc. You have just received an order for 38 units of an industrial robot, which is to be
    5·1 answer
  • During 2017, Benson purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing o
    7·1 answer
  • Value-added" describes the economic enhancement a company gives its products or services and helps explain why companies are abl
    9·1 answer
  • The following information is available for Aikman Company.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!