Answer:
buyer; seller
Explanation:
A "debit memorandum" is also known as a "debit memo." It is often a notification to the buyer or customer that <em>debit adjustments</em> were made to their bank accounts.
However, if the buyer returns the goods to the seller due to any reasons (such as damaged goods or incorrect goods), the buyer issues the debit memo. This will notify the seller that a debit has been made to his account in the buyer's records. It also means that <em>the buyer is requesting for a return of funds from the seller.</em>
So, this explains the answer.
Answer:
D. Water
Explanation:
The reactants of photosynthesis include Carbon Dioxide and water as shown below.
Answer:
a.Perishable items must have an actual physical flow of FIFO
Explanation:
- Cost flow estimates are required to determine the cost of goods sold and to end inventory. Companies make some ump habits about what goods are sold and what items are listed (as a result of various accounting methods).
- Financial reporting and tax benefits and the actual movement of goods are not required to be accepted
- The continuous inventory system may have different end inventory and COGS yields compared to the periodic inventory system due to LIFO's calculation time and weighted average cost flow estimates.
- Reducing or exceeding the lower price of goods sold when prices fall or rise
Since the company is following a periodic inventory system, it has to use temporary accounts to record sales and purchases.
Transaction A
Purchases – Dr 860500
Accounts payable 860500
Transaction B
Accounts payable - Dr $111,600
Purchase returns $111,600
Transaction C
Accounts payable - Dr 748900
Discount received 14,978
Cash 733,922