Answer: Debit Accounts receivable for $600.
Explanation:
The customer had not been billed so that means that they still owe the company. This would make them an accounts receivable so the adjusting entry will have to debit the Accounts Receivable account for $600 to show that it is increasing.
This amount will be credited to the Accrued revenue account to show that the cash has not yet been received.
Answer:
$25 billion
Explanation:
The difference between a 0.25 reserve ration and a 0.20 reserve ratio is 0.05, which represents $5 billion in available money (= 0.05 x $100 billion).
If the total bank reserves is $100 billion, and the reserve ratio is 0.20, the money multiplier = 1 / 0.20 = 5.
If the banks have $5 billion available for loans and the new money multiplier = 5, then the lending capacity of the banking system will increase by $25 billion (= $5 billion available x money multiplier).
Answer:
Double-cycle billing is a method used by creditors, usually credit card companies, to calculate the amount of interest charged for a given billing period. It takes into account not only the average daily balance of the current billing cycle (usually one month), but also the average daily balance of the previous cycle.
Explanation:
idk...my mom helped me answer this for you
Answer:
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties
