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Deffense [45]
3 years ago
6

Journalize the below entries.

Business
1 answer:
grigory [225]3 years ago
3 0

Answer:

Dec. 2.

Dr. Inventory $4,000

Cr. Troy $4,000

Dec. 3.

Dr. Rent Expense $2,600

Cr. Cash $2,600

Dec. 5.

Dr. Office Supplies $450

Cr. Rigby Supply $450

Dec. 8.

Dr. Utility Expense $590

Cr. Cash $590

Dec. 9.

Dr. Equipment $6,500

Cr. Alright Equipment $6,500

Dec. 10.

Dr. Alright Equipment $6,500

Cr. Equipment $6,500

Dec. 11.

Dr. Troy $4,000

Cr. Discount received $40

Cr. Cash $3,960

Explanation:

Dec. 11

The terms 1/10 n/30 mean there is a discount of 1% available on the payment to be made in 10 days of the purchase. The net credit period is 30 days. As the payment is made within the discount period, hence the payment will be made net of discount.

Discount on Purchase = $4,000 x 1% = $40

Payment = Total amount due - Discount = $4,000 -$40 = $3,960

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True or false: society can attain a higher degree of specialization without the use of money than it can with money.
dalvyx [7]

Society can attain a higher degree of specialization without the use of money than it can with money. The given statement is false.

In order to become more effective, specialization in business is concentrating on a single product or a small range of items. Specialization can boost productivity and give a company or economy a competitive advantage.

A speedier, more efficient workflow is the outcome of each person being able to give their particular task the degree of focus they are capable of. Through specialization, a worker can leverage their education and work history to speed up procedures and boost sales.

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Using the steps required to problem solving, once Sam as been able to recognize the problem, then the next thing he has to do is define the problem in detail.

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Answer:

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