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Natalka [10]
2 years ago
9

Sheffield Corp. sold $120000 of goods and accepted the customer's $120000 8%, 1-year note receivable in exchange. Assuming 8% ap

proximates the market rate of return, what would be the debit in this journal entry to record the sale
Business
1 answer:
svetlana [45]2 years ago
8 0

Answer:

The journal entry to record the sale :

Debit : Note Receivable $120000

Credit : Sales Revenue $120000

Explanation:

The journal entry to record the sale includes a Debit entry of a Note Receivable at the amount owed by the customer since there was no immediate payment of cash and a Credit entry of Sales Revenue to recognize Income earned.

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4.  Demand deposit accounts:  accounts that individuals and business can use to pay their bills.
5.  Bonds:  investments that promise to pay a certain amount of interest on the principle amount after a given time.
Critical Thinking.  1.  What are some considerations in choosing a financial institution? Which one do you think would be the most important consideration for you in choosing a financial institution? --When a choosing financial institutions, you want to consider location of the institution and the availability of services in your area.  Important factors in choosing for the location and services provided; convenience and how often you go.

2. What are the pros and cons of U.S. savings bonds? --Saving Bonds offer a secure investment; does not cost you state or local tax.  The con would be figuring when to cash them in or the maturity of the bond can be confusing.

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4. What are some of the consumer protections available? What can individuals do to protect themselves? --Many accounts in the United States have FDIC insurance that covers $100,000 of the money in the indiviudal's account.  The government has set regulations that can and can't be practiced with consumers; such as regulations required for banks to disclose all aspects of the agreements with their clients.

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5 0
3 years ago
HELLPPPPPPPPPPP PLEAEE!!!!!!!!!
slega [8]

Answer:

D

Explanation:

D is the answer sjkrkdrir

8 0
2 years ago
Mark wants to be a web designer. He recently found out that a local company is
ExtremeBDS [4]

Answer:

No his parents aren't exactly right, a college is far more expensive, not only money wise, but also time wise. These programs/bootcamps can get you started in web design, and make sure you pass with a certificate and fully understand the topic, and they only take around a 2 - 5 months.

6 0
3 years ago
Present all the journal entries including the adjustments that would be made on July 31, 2015, the end of the fiscal year, for e
Kamila [148]

Answer:

Account Title                                                            Dr            Cr

Supplies Expense (22,150+9,350-8,810)..............22690

      Supplies....................................................................................22690

Interest Receivable .....................................................450

      Interest Revenue .......................................................................450

Rent Revenue.............................................................$7,000

      Unearned Revenue...............................................................$7,000

3 0
3 years ago
Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per
IgorC [24]

Answer:

Economic profit will be $40

So option (d) will be correct option

Explanation:

We have given number of units produced = 20 units

Price of per unit = $10 per unit

So revenue = 20×$10 = $200

Revenue :20 units * $10 = 200

Fixed cost is given $100

Variable cost: 20 units ×$3 = 60

So total cost= Fixed cost + Variable cost = 100 + 60 =$160

So economic profit = Revenue - Total cost = 200 - 160 = $40

So option (d) will be correct answer

6 0
3 years ago
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