By the looks of it you already got it taken care of but thanks for the points ;)
Answer:
Explanation:
The journal entries are shown below:
a. No entry passed
b. Office expense A/c Dr $38
To Cash $38
(Being bank service charges paid)
c. Cash A/c Dr $32
To Interest revenue $32
(Being interest received)
d. No entry passed
e. Accounts receivable A/c Dr $570
To Cash A/c $570
(Being check returned)
The deposit in transit and outstanding checks should not be recorded. So, no entry is passed.
Answer:
$100,000
Explanation:
Operating expenses refers to the expenses incurred by the firm at the time of starting the business.
Total amount of annual operating expenses for this income-producing property:
= minor roof repairs + property taxes + maintenance + janitorial + security
= $20,000 + $30,000 + $25,000 + $15,000 + $10,000
= $100,000
The appropriate response is Daily Compounding. Progressive accrual is the expansion important to the key total of an advance or store, or as it were, enthusiasm on intrigue. It is the aftereffect of reinvesting premium, instead of paying it out, so that enthusiasm for the following time frame is then earned on the chief total in addition to the already gathered premium.
Answer: b.when the payments for merchandise are to be made.
Explanation:
Credit terms refers to the payment terms which are mentioned on the invoice when a good is bought.
Credit terms are terms for when payments for merchandise are to be made. Credit Terms are made during sales on account. The credit term shows the discount rate tahts offered to the costumer and the time limit that the creditor is expected to pay.
