Answer
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Explanation
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Answer:
The journal entry for recording the transaction of transfer is shown below:
Explanation:
The journal entry for recording the transaction of transfer is as follows:
Accounts Payable A/c..............................................Dr $12,000
Purchases Returns and Allowances A/c..................Cr $12,000
Being record the transfer of goods which were purchased earlier
When the purchase was made, this would be passed or recorded as:
Purchase A/c.................................................Dr XXXX
Accounts Payable A/c..............................Cr XXXX
Being purchase recorded
So, when some of the purchase is returned, then the accounts payable account is debited against the account of Purchases Returns and Allowances with the amount of purchase return.
Why is it important for investments to provide a greater return than the rate of inflation?
When inflation levels are stable and moderate, investors have lower expectations of high
market returns. Conversely, expectations rise when inflation is high. When inflation rises,
DO PRICES IN THE ECONOMY, leading investors to require a higher rate of return to maintain
their purchasing power.
Around your early 40s , make sure you start early
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