Answer:
May 2 No entry is required as the transaction is yet to happen
May 7 DR Accounts Receivable $1,200
CR Tour Revenue $1,200
May 9 DR No entry required
May 15 DR Sales Allowance (1,200 * 30%) $360
CR Accounts Receivable $360
May 20 DR Cash $789.60
DR Sales Discount $50.40
CR Accounts Receivable $840
Working
Accounts Receivable = 1,200 - 360 sales allowance = $840
Sales Discount = 840 * 6% discount = $50.40
Cash = 840 - 50.40 = $789.60
b. Net Revenues
= Revenue - Sales allowance - Sales discount
= 1,200 - 360 - 50.40
= $789,60
c. Partial Income Statement
Tour Revenues $1,200
Less:
Sales Allowance $360
Sales Discount <u> $50.60 </u>
<u> ($410.60)</u>
Net Tour Revenue $789.40
Answer:
b. debit warranty expense $10,000; credit estimated warranty liability $10,000
Explanation:
The journal entry to record the estimated warranty expense is shown below:
Warranty Expense Dr $10,000 ($200,000 × 5%)
To Estimated Warranty Liability $10,000
(being the warranty expense is recorded)
Here the warranty expense is debited as it increased the expense and credited the estimated warranty liability as it also increased the liability
Therefore the option b is correct
I believe it’s false advertising.
It’s like bait, they get you in the store only to tell you they don’t have the item, then proceed to sell you something much more expensive.
Answer:
This question is incomplete, it misses the options. The optiones are the following:
A. Which countries in the world have French as their first language? B. How much will it cost to train for this career choice? C. Which language other than French is beneficial to learn? D. Is translation a career that many people respect?
And the correct answer is the option B: how much will it cost to train for this career choice?
Explanation:
To begin with, the fact that the second question is the one that will best help him in order to think critically about his career choice is that because he needs to now how much will he need in order to learn that career and if the costs will be worth it in the case of choosing it and for that he will need to compare the costs with the approximates benefits that he will have in the future. That is why, Chen needs to questions himself if the costs will be worth it.
