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kirill [66]
2 years ago
7

Samantha Rose Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to re

cord sales made on credit, how much should be recorded as revenue
Business
1 answer:
harkovskaia [24]2 years ago
7 0

Answer:

$24,750

Explanation:

The computation of the amount that should be recorded is shown below"

Sales on account = $25,000

Credit term = 1/15, n/30

Sales discount rate = 1%

Now  

Sales discount = Sales on account × Sales discount rate

= 25,000 × 1%

= $250

So,

Net sales = Sales- Sales discount

= $25,000 - $250

= $24,750

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Answer:

The statement is: True.

Explanation:

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3 years ago
A(n) ________ is thought of as an overarching system of formal and informal relationships within which the firm participates to
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Answer:

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3 years ago
Read 2 more answers
The most liquid monetary aggregate is: ___.
Alex17521 [72]

M1 is the most liquid monetary aggregate.

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M1: M0 in its whole plus traveler's checks and demand deposits

All of M1, money market securities, and savings accounts are considered M2.

Despite not being frequently noticed and being distinct from the money supply, the monetary base is a crucial monetary aggregates. The total amount of money in circulation as well as the fraction of commercial bank reserves that is kept on hand by the central bank are included. Since it may be multiplied using the fractional reserve banking system, this is also sometimes referred to as high-powered money (HPM).

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7 0
1 year ago
Based on the circular flow of business, what are two ways that households impact the economy? A) They provide wages and products
bonufazy [111]

Answer:

D. They provide the four factors of production and spend money on the product market.

Explanation:

In circular flow of business, all the players namely; household, government agencies, firms and others in an economy have an important role to play.

The level of a nation's employment status, price level and income are determined as a result of various interactions among firms/businesses, household and government agencies.

When a unit spends money, it becomes the income of another unit. Household goes to market with their monies to buy goods and services, while firms goes to the factor market to buy the resources, which are owned by the household, to produce the goods and services.

As for the government agencies, they collect taxes on the goods and services produced and on income(both household and firms) . Government also buys goods and services inorder to produce specialize goods.

Through these interactions, money and business changes hands from the household to the firm and then to government. It goes back to the household and the list goes on and on.

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3 years ago
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