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
koban [17]
3 years ago
10

On May 10, Keene Company sold merchandise for $4,000 and accepted the customer's Best Business Bank MasterCard. At the end of th

e day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.8% service charge for credit card sales. Prepare the entry on Keene Company's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
natta225 [31]3 years ago
8 0

Answer:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Explanation:

The journal entry is shown below:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Since sale is made so we debited the cash it increased the assets plus there is service charge expense so the same is also debited as it increased the expenses and at the same time the merchandise is sold so it would be credited as it increased the revenue

You might be interested in
Often a commercial payer will implement changes to claims completion requirements throughout the year, and most providers discov
Tomtit [17]

The correct statement is when claims are denied.

<h3>What is the commercial paper? What is the duration of the commercial paper?</h3>

The commercial papers are the short term money market instruments, that are issued by the companies which holds a good credit rating.

Usually, the maturity date of the commercial paper lies between the fifteen days or up to one year.

The companies mostly issued the commercial papers to meet their short term liabilities.

Learn more about the commercial paper here:-

brainly.com/question/22985280

#SPJ1

6 0
2 years ago
Melanie has a balance of $1700 on a credit card with an apr of 24.2%, compounded monthly. about how much will she save in intere
slamgirl [31]
She will save about $267.27 ($2160.24 - $1892.97) in interest over the course of a year if she transfers her balance to a credit card with an apr of 10.8%, compounded monthly. This problem can be solved using the compounding interest formula which stated as A = P*(1+i)^n. A is the amount affected by the compounding interest, i is the interest rate, and n is the period of time. You must find the amount using the 24.2% and 10.8% compounding interest and find the difference between them.
4 0
3 years ago
Read 2 more answers
In most job interviews, conservative business _________ attire is a safe choice.
mariarad [96]

Answer:

formal

Explanation:

Attire is one of the important aspect that reflects on the personalities of the interviewee. The attire that a person should opt for during an interview is formal and well fitting clothes. Clean and fit clothes helps in adding confidence and makes the personal appear professional before the interviewer. Clothes are to be choose according to the industry or profession applied by the interviewee.

7 0
3 years ago
What does the investment component of GDP measure?
Allisa [31]

Answer:

b. spending on goods to be used in future production

Explanation:

There are basically four components of Gross domestic product (GDP) which are as follows

GDP = Consumption spending + investment + government spending + net exports

where,  

Net exports would equal to

= Export-import

Here, investment means the investment is done on goods which increase in productivity for the future period so that overall output could be increased

8 0
3 years ago
Labor costs that are clearly associated with specific units or batches of product because the labor is used to convert raw mater
ch4aika [34]

The costs that are clearly associated with specific units or batches of product is called: Direct labor.

<h3>What is direct labor?</h3>

Direct labor are wages and salaries paid to workers whose work can be traced directly to specific products or services. They are wages incurred in order to produce goods or provide services to customers.

Example of direct labor include:

  • Assemblers
  • Welders
  • Painters

Hence, labor costs that are clearly associated with specific units or batches of product because the labor is used to convert raw materials into finished products are called direct labor.

Learn more about direct labor here: brainly.com/question/26371102

4 0
3 years ago
Other questions:
  • Dear Mr. Trujillo: Subject: To all employees We’ve instituted a new process for requesting vacation time. Here’s how it will wor
    14·1 answer
  • ABC Corporation has the following information: Total market value of a company’s stock: $650 million Total market value of the c
    14·1 answer
  • A bank reconciliation should be prepared a. to explain any difference between the company's balance per books with the balance p
    8·1 answer
  • Campbell Transport Company divides its operations into four divisions. A recent income statement for its West Division follows.
    6·1 answer
  • Sue and Andrew form SA general partnership. Each person receives an equal interest in the newly created partnership. Sue contrib
    15·1 answer
  • A third-degree price discriminating monopolist can sell its output either in the local market or on an internet auction site (or
    6·2 answers
  • You are considering investing $1,000 in a complete portfolio. The complete portfolio is composed of Treasury bills that pay 5% a
    8·1 answer
  • Please provide the steps used to solve this problem. A recording artist receives a royalty payment of 7% for each CD sold, and h
    5·1 answer
  • Shuck Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 8,200
    6·1 answer
  • what best describes ""accountability"" in journalism? group of answer choices representing and telling stories of company matter
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!