Answer:
B
Explanation:
it gives out a full explanation of what the question is mainly asking
Answer:
the present value is $12,151.67
Explanation:
The computation of the amount that should be borrowed today i.e. present value is shown below:
Given that
PMT = $320
Rate of interest = 12 ÷ 12% = 1%
NPER = 4 × 12 = 48
FV = $0
The formula is shown below
= -PV(RATE;NPER;PMT;FV;TYPE)
After applying the above formula, the present value is $12,151.67
Answer:
Journal entries
Explanation:
1. Cash Dr XX
To Sales revenue XX
(Being the cash sales is recorded)
Since the cash is received so we debited the cash as it also increases the assets and the sales revenue would be credited as it an income for the company
2. Cost of goods sold XX
To Merchandise inventory XX
(Being the cost of goods sold is recorded)
While calculating the cost of inventory we debited the cost of goods sold and credited the merchandise inventory
1. Account receivable Dr XX
To Sales revenue XX
(Being the cash sales is recorded)
Since the sales is made on account so we debited the account receivable as it also increases the assets and the sales revenue would be credited as it an income for the company
2. Cost of goods sold XX
To Merchandise inventory XX
(Being the cost of goods sold is recorded)
While calculating the cost of inventory we debited the cost of goods sold and credited the merchandise inventory
I don’t know the answer but I need points thank you and good luck
