Answer:
the journal entry are given below
Explanation:
given data
On January 10
purchase merchandise = $1,700
On February 10
amount due = $1,700
On February 12
Molly pays = $1,100
On March 10
amount due & interest = 1% per month
solution
Interest revenue to be recorded on March 10 that is calculated as
Unpaid balance as of February 12 = $1700 - $1100 = $600
and interest rate = 1% per month
so
Interest revenue = $600 × 1% = $6
so the journal entry are
date account title debit credit
January 10 account receivable $1700 sales revenue $1700
February 12 cash $1,100
sales revenue $1100
March 10 account receivable $6
interest revenue $6
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Answer:
Production= 13,000
Explanation:
Giving the following information:
Estimated inventory (units), June 1 18,500
Desired inventory (units), June 30 19,000
Expected sales volume (units):
Area X 3,000
Area Y 4,000
Area Z 5,500
Total= 12,500
To calculate the production for the period, we need to use the following formula:
Production= sales + desired ending inventory - beginning inventory
Production= 12,500 + 19,000 - 18,500
Production= 13,000
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