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patriot [66]
3 years ago
6

Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 4.5% charge on sales

for using its card. On June 28, Jervis had $5,800 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit?
Business
1 answer:
lukranit [14]3 years ago
6 0

Answer:

The journal entry to be recorded by Jervis on June 28 is shown below:

Explanation:

The journal entry to be recorded by Jervis on June 28 is as:

On June 28

Cash A/c......................................Dr  $5,539

Credit Card expense A/c........Dr $ 261

                Sales A/c............................Cr  $5,800

Being record the deposit of amount on Sales by Jervis

As the amount is deposited on sale which means cash is coming into the bank, and any increase in cash is debited. So, the cash account is debited. And on the amount expense is charges, the charge is also debited. Therefore, the credit card expense is debited. And the sales is made, so, the sales account is credited.

Working Note:

Credit card expense = Sales amount × Charge

= $5,800  × 4.5%

= $261

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KengaRu [80]

Answer:

The correct word for the blank space is:  procurement policy.

Explanation:

A procurement policy within the work frame is the set of regulations that establishes boundaries on the purchase of assets for the company's employees. Its main role is to ensure those purchases adjust to the needs of the organization so that the company can add value to its operations.

3 0
3 years ago
Sally agrees to roof a house for Bob.After doing his research,Bob chooses Sally based on her great reputation for being conscien
lord [1]

Answer:

B) They are employees.

Explanation:

They work for Sally. Sally hired Truly, Glen and Fred and pays them an hourly wage, and provides the tools that they use to perform their work. She also supervises and directs their job. They are not independent contractors due to the direct relation that exists between them and the fact that they obey Sally's orders.

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3 years ago
In a market with 1,000 identical firms, the short-run market supply is the
kompoz [17]

Answer: Option(a) is correct.

Explanation:

Correct Option : Marginal cost curve above average variable cost for a typical firm in the market.

In a market of perfect competition, the shutdown price of the firms will be minimum point of average variable cost. So, there is supply of goods by the firms if the price is equal or above the shutdown point of the firm.

Therefore, the supply curve of the firm is the above part of the MC curve from the minimum point of average variable cost.

8 0
2 years ago
If the mortgage loan is 80% of the appraised value of a house, and the interest rate of 8% amounts to $460 interest for the firs
irga5000 [103]

The appraised value of the house is after calculating interest and the value is $86,250.

<h3>What is appraised value?</h3>

A qualified appraiser or valuer's assessment of the assessed value of the real property is what is meant by an appraised value or mortgage valuation. It is typically utilized as a pre-qualification criterion and risk-based pricing component in connection with a financial institution's issuance of mortgage loans.

Calculation of appraised value of the house:

  1. First, calculate the yearly interest. $5,520 in interest total every year ($460 x 12).
  2. Take a loan for $69,000 at an interest rate of.08 on $5,520.
  3. Next, subtract $86,250 from $69,000 to get the appraised value.

Hence, the total appraisal value is $86,250.

Learn more about appraised value :

brainly.com/question/21507493

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6 0
1 year ago
Last semester, Brita bought her textbooks over the Internet and saved a considerable amount of money. Classes start in a few day
Dmitriy789 [7]

Last semester, Brita bought her textbooks over the Internet and saved a considerable amount of money. Classes start in a few days, and she needs to decide right away how and where to purchase her books. Brita will most likely engage in "limited problem solving" process.

<h3>What is limited problem solving process?</h3>

Limited issue solving is another sort of consumer problem-solving that consumers employ when they need information about unknown brands in well-known product categories or when they make sporadic purchases of goods; it takes a fair amount of time for information collecting and consideration.

The characteristics of limit solving process are-

  • Limited issue solving is employed when consumers seek information about a new brand within a well-known product category or when they occasionally purchase products.
  • When buying a new, expensive, or infrequently purchased goods, consumers engage in lengthy problem solving.
  • Possibly when you need to find out information about an unusual brand in a well-known product area, takes a fair amount of time to gather information.
  • Clothing is one example where it is known the product class but not the brand.

Therefore, in the given case- Brita lacks the time to thoroughly consider all of his alternatives. Additionally, he will likely follow suit this time around given his recent success purchasing books online (unless he waited too long and cannot receive his books in time).

To know more about steps in the problem solving process, here

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6 0
2 years ago
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