clearing checks
acting as government fiscal agent
supervising members bankers
regulate money supply
supply paper currency
setting reserve requirements
Answer: Here are a few other elements to consider:
Did you open the message with the main idea?
Could you have used fewer simple sentences?
Could you have arranged words differently to improve clarity?
Answer:
A.
Dr merchandise inventory 47,040
Cr Account payable 47,040
B.
Dr Account payable 7,350
Cr merchandise inventory 7,350
C.
Dr Account payable 39,690
Cr Cash 39,690
D.
Dr Account payable 39,690
Dr Purchase discount 810
Cr cash 40,500
Explanation:
Stylon Co. Journal entry
A.
Dr merchandise inventory 47,040
Cr Account payable 47,040
(48,000-(48,000×2%)
B.
Dr Account payable 7,350
Cr merchandise inventory 7,350
(7500-(7500×2%)
C.
Dr Account payable 39,690
Cr Cash 39,690
(47,040-7,350)
D.
Dr Account payable 39,690
Dr Purchase discount 810
(48000-7500)×2%
Cr cash 40,500