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
Alex17521 [72]
4 years ago
7

Merchandise with a sales price of $9,300 is sold on account with terms 2/10, n/30. The journal entry to record the sale would in

clude a:_________. a. debit to Accounts Receivable for $9,300 b. debit to Cash for $9,300 c. debit to Customer Refunds Payable for $186 d. credit to Sales for $9,114
Business
2 answers:
never [62]4 years ago
6 0

Answer:

A) debit to Accounts Receivable for $9,300

Explanation:

The journal entry to record the sale should be:

XX, YY, merchandise sold on account, credit terms 2/10, n/30

Dr Accounts receivable 9,300

    Cr Sales revenue 9,300

Credit terms 2/10, n/30 means that if the customer pays within the discount term (10 days) they will get a 2% discount. If the customer pays after the discount term and before 30 days, they have to pay the full invoice price.

Zarrin [17]4 years ago
5 0

Answer:

The correct answer is Option A.

Explanation:

The appropriate entries that would be recorded are, regardless of the discounts offered:

Debit Accounts receivable          $9,300

Credit Sales revenue                   $9,300

<em>(To record sales transaction)</em>

The above journals hold until the discount is established. The cash discount terms of 2/10, n/30 means 2% cash discount if paid within 10 days of the credit sale and net 30 means payment of full invoice within 30 days. The essence of the 2% cash discount is to encourage early payment of credit sale.

You might be interested in
Assume that the. Top level management team has accepted your recommendation how can their effectiveness be evaluated three month
Alex73 [517]

The correct answer to this open question is the following.

Although the question provides no context or references, we can say that if the top-level management team has accepted your recommendation their effectiveness can be evaluated three months after implementation in the following way.

The recommendation needs to establish some goals that have to be accomplished in the short, medium, and long-range. After the first three months, you establish your exéctations and you should have included your KPIs or Key Performance Indicators in order to do the proper evaluation and knowing if the recommendations were valid or attainable. Lack of goals or KPIs to evaluate the recommendation would end up complicating the evaluation process.

3 0
3 years ago
Difference between listening and hearing?​
hodyreva [135]

Answer:

Simple. When you listen, you put an effort in to it. It is a conscious mental process where you direct you will power. Whereas hearing is all about you being NOT deaf (haha!) more technically Hearing means the ability to perceive sounds. Often, this is an unconscious mental process.

Explanation:

As we understood in the answer, there are two types of mental activities. Conscious and Unconscious. Conscious ones are those you put an effort to, like reading a book, studying, playing a video game, etc. Listening is like this. your attention and focus is on during listening!

Unconscious mental processes are those that you don't put an effort to and often happens even without you noticing that they are happening. hearing is one such thing, the faculty of perceiving the sound.

3 0
3 years ago
Read 2 more answers
When there is a full forward cover with the spot rate equal to the forward rate all of the following are true​ EXCEPT: A. The cu
Blababa [14]

Answer:

B. The hedge is asymmetric.

Explanation:

Hedging refers to a technique or a mechanism whereby firms and individuals aim for risk reduction, arising out of uncertain and volatile business situations, which may result into a heavy loss.

For example, an exporter entering into a forward contract to eliminate or reduce the risk of arising out of a future situation wherein, future receipts denominated in a foreign currency, receivable at a future date, may be less than same receipts receivable at current spot exchange rate as on today.

Currency hedge ratio depicts the proportion of total exposure which is covered by hedge w.r.t the total exposure itself.

Asymmetrical hedge refers to covering an exposure by an opposite position wherein the chances of earning profits are higher than the losses current position can lead to. Such an hedge would be similar to covering a call option with a put option. Asymmetrical refers to being of dissimilar or non equal size. Here, it refers to the dissimilarity between prospective profits and losses.

Under a perfect hedge, the loss position in a scenario is completely covered i.e 100% by a prospective gain in other situation, with there being negative correlation between the two scenarios such as if scenario 1 yields a profit, scenario 2 would yield a loss and vice versa.

8 0
4 years ago
If the consumption function is defined as C = 5,500 + 0.9Y, what is the
Nimfa-mama [501]

Answer:

Option B ($5,500) is the appropriate choice.

Explanation:

The given expression is:

⇒  C = 5,500 + 0.9Y

At the zero (0) level of income, the consumption would be the Autonomous consumption.

then,

Y = 0

On substituting the value of "Y" in the given expression, we get

⇒  C=5,500+0.9(0)

⇒      =5,500+0

⇒      =5,500 (%)

8 0
3 years ago
Dribbling in field hockey is when you.
Talja [164]

Answer:

Dribbling is a technique used in field hockey to move the ball forward using small touches with a hockey stick.

3 0
3 years ago
Other questions:
  • A young thomas edison makes 20 light bulbs a week in his dorm room. the parts for each light bulb cost $2.00. he sells each ligh
    13·2 answers
  • How many formal and informal forecasting methods do you have at work or at home?
    10·1 answer
  • There are more than two types of bachelors’ degrees<br><br> true or false?
    9·1 answer
  • Flower Company manufactures and sells a single product that has a positive contribution margin. If the selling price and variabl
    11·1 answer
  • Which of the following is NOT an accurate description of modern marketing?
    7·1 answer
  • Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, d
    9·2 answers
  • You are considering an investment in Crew Cut, Inc. and want to evaluate the firm's free cash flow. From the income statement, y
    8·1 answer
  • You have been tasked with advising the dictator of a nation over what he should do to increase the countries GDP. He suggests pr
    14·1 answer
  • Celia has a son and a daughter in college. They have been students since tax year 2017. Celia’s son’s tuition is $6,600 and her
    6·1 answer
  • A possible cause of favourable material price is
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!