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Reil [10]
2 years ago
7

On February 3, Smart Company sold merchandise in the amount of $2,700 to Truman Company, with credit terms of 1/10, n/30. The co

st of the items sold is $1,865. Smart uses the perpetual inventory system and the gross method. Truman pays the invoice on February 8, and takes the appropriate discount. The journal entry that Smart makes on February 8 is:
Business
1 answer:
nadezda [96]2 years ago
8 0

Answer:

Journal entry on February 8 :

Debit  : Cash $2,673

Debit  : Discount received $27

Credit : Account Receivable $2,700

Explanation:

The journal entry that Smart makes on February should show the Cash payment net of cash discount, a decrease in Total Account Receivable balance and recognition of an expense discount allowed up to 1 %.

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Bruce went shopping at the Hermes store in New York City. This is a very high-end fashion store. When he entered the store, an a
Kazeer [188]

Answer: Full service

Explanation:

The full service retailing is the process which mainly focus on the services during the production of the products or goods rather than the goods.

 The full service retailing mainly focus on storing the informative sales that focus on the high retaining prices and it is customer friendly. The full service retailing is the relationship between the services provider and the customers.

According to the given situation, the Bruce situation clearly depict about the full service retailing process.  

3 0
3 years ago
Consider the production department of a manufacturer of laptop computers. Classify the cost of the factory maintenance manager's
Alisiya [41]

Answer:

c. Indirect

d. Fixed

f. Product

Explanation:

Cost of the factory maintenance manager's salary is a manufacturing cost. However, this manufacturing cost is an Indirect and fixed cost. Manufacturing costs are Product costs whereas Non-Manufacturing costs are Period Costs

8 0
3 years ago
When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typical
Gre4nikov [31]

When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called Anticipatory inventory.

<h3>What is Anticipatory inventory?</h3>
  • Anticipatory inventory is the stock that is continued to accord to the normal buyer interest. It is very like wellbeing stock however it contrasts as in this stock is generally kept occasionally when the interest for items can shift enormously.
  • This inventory enables a company to adapt to changes in customer demand.
  • It enables the company to constantly provide customer service.
  • When demand fluctuates, it enables the company to grow its operations.
  • This inventory type may resemble safety stock quite a bit. It varies from safety stock, though, in that it is kept on hand by the business to handle demand swings. This change reflects the anticipation of rising demand in the near future.
  • If a scarcity or price increase is anticipated soon, businesses might store more inventory.

Hence, this kind of inventory is frequently referred to as anticipatory inventory, such as when the grocery store orders a huge supply of chocolate candies right before Valentine's Day.

To learn more about inventory refer to:

brainly.com/question/15118949

#SPJ4

3 0
2 years ago
Mary makes monthly deposits of $450 at the end of each month over 25 consecutive years to support her retirement. If the account
Arte-miy333 [17]

Answer:

d. $394,767

Explanation:

For computing the amount of deposit at the end we need to apply the future value formula i.e to be shown in the attachment

Given that,  

Present value = $0

Rate of interest = 7.5% ÷ 12 months = 0.625%

NPER = 25 years × 12 months = 300 months  

PMT = $450

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after applying the above formula, the future value is $394,767

8 0
3 years ago
Trying to get the answer to this
alex41 [277]

Fam you need to give a pic of it or a link or something cus i cant help when u ask for da answer to notin

6 0
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