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Anestetic [448]
2 years ago
7

X-Mart purchased $300 of merchandise on account. Demonstrate the journal entry to record this transaction, assuming the perpetua

l inventory system is used.
Business
2 answers:
loris [4]2 years ago
6 0

Answer:

Debit purchases $300 and credit account payable $300

Explanation:

Answer key

pav-90 [236]2 years ago
3 0

Answer:

See explanation

Explanation:

Since X-Mart company uses perpetual inventory system, the inventory system shows the real-time selling of inventories. Purchasing merchandise on account means no cash has been paid and a liability is existed. To record the transaction, the following journal entry will require in the book of X-Mart-

Debit    Merchandise Inventory    $300

Credit               Accounts payable          $300

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Explanation:

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8 0
2 years ago
Amateurs who cash bad checks because of some financial crisis but have little identification with a criminal subculture are call
torisob [31]

Amateurs who cash bad checks because of some financial crisis but have little identification with a criminal subculture are called naive check forger. Forgery is defined by general or common law as the fraudulent execution of a legal document, which entails liability.

The term "naive forgery" was created to describe forgeries carried out by people with no prior criminal history and no prior contact or interaction with offenders. It is intended to exclude forgeries that are committed as a byproduct of other crimes and forgeries that are either the initial or later stages of a criminal career. Forgeries of the kinds that have been eradicated sometimes occur when criminals enter a business office and discover a drawer full of checks, which they frequently — and foolishly — cash.

The forgeries produced by embezzlers and occasionally by con artists are also excluded, mostly because they serve as a byproduct or a secondary method of committing their crimes. The fact that the embezzler was in a position of trust further sets him apart from the forger. On the grounds that it unnecessarily restricts the range of crimes and hence lessens the effectiveness of our generalisations, the legitimacy of how we define the class of forgeries about which we attempt to generalise may be questioned. The nature of the prior records of individuals found guilty of forgery will provide the answer to any such question we may have.

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4 0
1 year ago
A computer thesaurus Group of answer choices catches
svet-max [94.6K]

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3 years ago
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Answer:

Please check the following explanation

Explanation:

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Consequently, Porters' can deduct $2,500 of the investment interest expense and the remaining $500 of investment interest expense will be carried over to next year.

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2 years ago
âas an individual consumes more of a given good or service, the marginal utility of that good to the consumer likely:
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