Answer:
July 24 Cash $1470 Dr
Discount allowed $30 Dr
Account Receivable $1500 Cr
Explanation:
The receipt of payment for accounts due will cause a credit to accounts receivable for that particular debtor along with a debit to cash as payment is received. However, as there were some sales returns, the outstanding amount in the accounts receivble account was sales less sales returns that is 3100 - 1600 = 1500.
The terms state 2/10, n/30 which means 2% cash discount is allowed if payment is made within 10 days of sale. The payment is made within 10 days, as July 24 falls under this period so cash received will be 1500 * 98% = 1470.
While Accounts recevables will be reduced by 1500. The difference of 30 is discount allowed and it is an expense and will be debitted.
Answer:
The correct answer is C
Explanation:
HRM system is the system which is designed in order to automate the business process of human resource, compliance, transactions and payroll. This system allows the business to focus on the people through streamlining all the software workforce into the business intelligence solution.
Recruitment and selection is the procedure of identifying the requirement of job and defining the need of the position, advertising the position and selecting the appropriate person for the position.
Therefore, the recruitment and selection is the component of HRM system which uses the hiring procedure that comprise of testing and interviewing the professionals.
Advertising: Advertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them. Advertising is always present, though people may not be aware of it. In today's world, advertising uses every possible media to get its message through.
Promotional and Institutional: Institutional promotion is used to convey your company's brand message to target customers. While it doesn't directly result in sales, the idea is that by promoting your company and its values, you appeal to customers that appreciate what you have to offer. Product promotion is routinely used to attract customers to a product and increase their perception of its value
