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kompoz [17]
3 years ago
12

Presented below is information from Sandhill Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company with

terms 3/15, n/60. Sandhill uses the gross method to record cash discounts. Sandhill estimates allowances of $1,300 will be honored on these sales. 10 Sandhill received payment from Robertson for the full amount owed from the July transactions. 17 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Sandhill for its purchase of July 17.
Business
1 answer:
AlexFokin [52]3 years ago
3 0

Answer and Explanation:

The journal entries are shown below:

On July 1

Accounts receivable Dr $20,000  

            To Sales revenue  $20,000

(To record the sales on account)

On July 10

Cash $19,400    

Sales discount $600 ($20,000 × 3%)  

        To Accounts receivable  $20,000

(To record the payment received)

On July 17

Accounts receivable $200,000  

             To Sales revenue  200,000

(To record the sales on account)

On July 30

Cash $200,000  

       To Accounts receivable  $200,000

(To record the payment received)

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Witch of the following words describe a candidate that comes off well in the media, particularly on television? A. Cynical B. Cr
Studentka2010 [4]
The correct answer should be D. Mediagenic

It means that he is very loved by the media. It is like photogenic, except for the media.
5 0
3 years ago
In case of normal goods, demand curve shows a) Negative slopes b) positive slopes c) Zero slopes d) none of these
ExtremeBDS [4]

Answer:

a. Negative slopes

Explanation:

A negative slopes indicate that there exist a negative relationship between price and quantity demanded of a particular good. This means that when price falls, more units of goods will be purchased by the consumer and vice versa.

A normal good is a type of good whose demand increases as a result of increase in consumer's income. In other words, the higher the income, the higher the quantity demanded of such good by the consumer and vice versa.

It follows that when there is an increase in wage or income of a consumer , more goods will be purchased by them except if there is an increase in the price of such good . When there is price increase for such good, consumer will switch to a substitute good.

3 0
3 years ago
You are the manager of the public transit system. You are informed that the system faces a deficit, but you cannot cut service,
AnnyKZ [126]

Answer:

Total revenue rises immedately after the fare increase, since demand over the immediate period is price Inelastic.

Explanation:

Elasticity in the price demand measures the porcentage in the change of the quantity demanded as a response to a change in the price. If the elasticity is more than 0 but less than 1 it means that the price demand is inelastic. So when the price is rised the quantity demand will decrease in a minor porcentage than the rise in the price so it will represent a bigger revenue.

7 0
3 years ago
Selected transactions from the journal of Metlock Inc. during its first month of operations are presented here:
Akimi4 [234]

Answer:

Metlock, Inc.

T-accounts:

Common Stock

Date     Account Titles       Debit   Credit

Aug. 1   Common Stock   9,000

Cash

Date     Account Titles          Debit   Credit

Aug. 1   Common Stock                    9,000

Aug. 10 Service Revenue     1,400

Aug. 12 Equipment                           1,540

Aug. 31 Accounts receivable 750

Service Revenue

Date     Account Titles       Debit   Credit

Aug. 10 Cash                                  1,400

Aug. 25 Accounts receivable      2,570

Equipment

Date     Account Titles       Debit   Credit

Aug. 12  Cash                     1,540

            Notes Payable    4,060

Accounts Receivable

Date       Account Titles       Debit   Credit

Aug. 25   Service Revenue  2,570

Aug. 31    Cash                                   750

Explanation:

Common stock of $9,000 was posted on the debit side as it appeared first.  This follows the normal order of recording transactions in the journal.  The accounts to be debited are recorded first before the accounts to be credited.  However, this entry appears abnormal.  Cash of $9,000 should have appeared first in the journal before the Common Stock.  Whichever is the correct interpretation, all the journal entries have been posted to the T-accounts accordingly.

6 0
3 years ago
What is the difference between marginal cost and marginal revenue?
9966 [12]

Answer:

Marginal cost is the money a producer pays for making one more unit, while marginal revenue is the money a producer  earns from selling one more unit.

Explanation:

Marginal the word means additional, that now in context of cost refers to additional cost for producing each additional unit.

And Marginal revenue represents additional revenue from selling additional unit.

Thus, additional money paid by the manufacturer or producer for making and manufacturing the additional unit is the marginal cost.

Similarly the marginal revenue is a part of revenue from sale of additional unit by the producer.

4 0
3 years ago
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