Answer:
D. Due from state government 90,000 Revenues control 90,000
Explanation:
Since the town of little river still expects to collect $90,000 in sales tax from the state government within 30 days after then end of fiscal year 2020 for retail sales taking place in fiscal year 2020 but have not yet received the cash or amount, it will be entered into the account as Due from state government $90,000. Money is due because as stated earlier, the little town isn't receiving it during that fiscal year but rather within 30 days after the fiscal year. It would also be entered as revenue control of $90,000.
Answer:
Mountain and Meadow Tree services prepaid rent $6,600 on December 1 for 6 months rent.
Note for asset and expense accounts when they increase you debit and when they reduce you credit.
The first entry
On December 1 : Debit Prepaid Rent account for $6,600
Narration: Prepaid rent for 6 months
Balance: $6,600
Since the rent is for 6 months, monthly payment will be= 6,600/6= $1,100
On December 31 post the following adjusting entries
December 31 : Debit Rent Expense $1,100
Narration: Rent for December
Balance: $1,100
December 31 : Credit Prepaid Rent $1,100
Narration: Rent for December
Balance: $5,500
The interdependency of transportation, distribution, communication, and economic networks across international borders globalization.
<h3>What is communication?</h3>
Communication is referred to the exchange of information between two individuals in the form of conversation, opinion, suggestion, or advice with the help of medium or direct interaction.
Globalization is a procedure by which the planet is becoming more interlinked as a consequence of drastically expanded trade and cultural interchange taking place through communication, transportation, and so on.
Learn more about communication, here:
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