The purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
<h3>What is the purchase amount to be recorded?</h3>
The purchase amount that should be recorded on the date of purchase is the amount of the transaction. This does not take into account the return and discount which happened later.
This implies that Icon Co. will reduce the purchase amount on April 4 when half of the goods were returned with a contra entry. And discount will be based on the balance of $2,000 instead of $4,000.
<h3>Data and Calculations:</h3>
Purchase on April 2 = $4,000
Purchases Return on April 4 = $2,000
Thus, the purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
Learn more about recording credit purchases at brainly.com/question/5651500
price level falls, purchasing power rises effect is the reasons the ad curve is downward slopinging
Answer and Explanation:
Since in the question it is mentioned that the account payable beginning balance is $250,000 and the ending balance of the account payable is $350,000 so here $100,000 different would rise the cash from operations
Therefore the same is to be considered as there is an increase in inflows of cash
So the difference would be rise the cash from operations
Answer:
The correct option is "common-pool resource"
Explanation:
A common-pool resources is described as any resource capable of benefiting a group of people, but can have minimal or diminished benefits to the same group of people if each person pursues self-interest rather than the interest of all. In this case, if there is no limit to borrowing books, the benefit of having the library will not be felt because it will be empty at all times.
Answer:
June 15
Dr Accounts payable $1,000
Cr Cash $400
Cr Notes Payable $600
Explanation:
Preparation of the June 15 journal entry for Coolidge
Based on the information given the June 15 journal entry for Coolidge will be :
June 15
Dr Accounts payable $1,000
Cr Cash $400
Cr Notes Payable $600
(Being to record amount payable )