1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Semenov [28]
3 years ago
10

On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses

the gross method of accountin g for cash discounts What is the correct entry for Flores on November 17, assuming the correct payment was received on that date? A) cash 7,840 Accounts receivable 7,840 B) cash 7,840 Sales discounts 8,00 Accounts receivablhe C) 7,84 cash Sales Accouts receivable D) 8,000 Cash Sales discounts l6 8,00 Accounts receivable 160 Sales
Business
1 answer:
PtichkaEL [24]3 years ago
8 0

Answer:

Following are the solution to this question:

Explanation:

In all the given choices some of the data is missing so, its correct entry can be defined as follows  

Cash account $7,840

Sales discount $160

To Accounts receivable $8,000

You might be interested in
North Side Wholesalers has sales of $948,000. The cost of goods sold is equal to 68 percent of sales. The firm has an average in
Masteriza [31]

Answer:

13 days

Explanation:

We are to calculate the days of inventory on hand.

Days of inventory on hand = number of days in a period/ inventory turnover

Inventory turnover = Cost of goods sold / average inventory

Cost of goods sold = 0.68 x $948,000 = $644,640

Inventory turnover = $644,640 / $23,000 = 28.027826

Days of inventory on hand = 365 / 28.027826 = 13.02 days

I hope my answer helps you

5 0
3 years ago
Using multiple cost drivers on a flexible budget report will generally ______. Multiple choice question.
lutik1710 [3]

Using multiple cost drivers on a flexible budget report will generally make the budget accurate and effective.

<h3>What is flexible budget performance report?</h3>

A flexible budget performance report serves as one that make comparison between actual revenues and costs for a period.

There are some method used in estimating this report, but multiple cost drivers is an effective method to get an accurate report.

Learn more about flexible budget performance report at:

brainly.com/question/27201970

5 0
2 years ago
On Jan. 2, Callie Company received a $700 payment from a customer previously billed for services performed. The journal entry to
Lerok [7]

Answer:

Cash and equivalents $700 Debit*

Accounts Receivables $700 Credit*

Explanation: The cash represents a debit because we are receiving the cash from a sale already made and the credit is made accounts receivable, because the product was previously sold only that a payment term was given to the person who is currently fulfilling, then the account receivable becomes cash as part of the company's operating cycle.

7 0
3 years ago
Firms often consolidate industries through horizontal mergers and acquisitions to?
Brrunno [24]

Firms often consolidate industries through horizontal mergers and acquisitions to increase their market power.

<h3>What is market?</h3>
  • A market is a collection of systems, institutions, processes, social relationships, or infrastructures in economics that allow parties to exchange goods and services.
  • While parties may trade goods and services for money, the majority of markets rely on sellers providing their wares or services—including labor—to customers in exchange for payment.
  • A market, in this sense, is the mechanism by which the costs of goods and services are decided.
  • Markets enable distribution and allocation of resources in a community and facilitate trade.
<h3>What purpose do markets serve?</h3>
  • Markets are crucial.
  • They serve as the exchange mechanism for corporate stock and provide access to funds for firms.
  • Markets have a key role in how prices are set, how liquidity is transformed, and how businesses may meet customer wants.

Learn more about market here:

brainly.com/question/13414268

#SPJ4

3 0
1 year ago
If the coupon interest rate remains constant from the time of issue until the bond matures, then the bond is called afixed-rate
marta [7]

Answer:

Indenture

Deferred call provision

Explanation:

Indenture is defined as the contract that describes the terms of a borrowing arrangement between a firm that sells a bond issue and the investors who purchase the bonds.

A call provision is defined as the right that the issuer of a security has to call or redeem the security at certain times and under specific conditions.

The call provision in which the issuer is prevented from calling a portion or the entire issue for several years during the early years of the bond issue is called deferred call provision.

8 0
3 years ago
Other questions:
  • In a financial statement audit performed following AICPA Professional Standards, how frequently must an auditor test operating e
    8·1 answer
  • A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,700 and is
    10·1 answer
  • Kornett Company during its first fiscal year ended December 31, 2016, Journalize the selected transactions, starting on page 21
    14·1 answer
  • During the​ ________ step of the selling​ process, the salesperson tells the value story to the​ buyer, showing how the​ company
    14·1 answer
  • The BRS Corporation makes collections on sales according to the following schedule: 30% in month of sale 60% in month following
    14·1 answer
  • If you bought Nike stock for $76 a share and sold them for $100 per share, your profit was
    10·1 answer
  • Which of the following is NOT one of the RESULTS of mass production? A) lower prices B)Product standardization C) increased trad
    6·1 answer
  • In an opinion column published in wallstreetbuzz, a columnist wrote, "James Jackson, CEO of Blain Investments, now posting an $8
    12·1 answer
  • Which of the following is true about specification ?
    7·1 answer
  • The single global rating approach to measuring job satisfaction is more sophisticated than the summation of job facets approach.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!