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
navik [9.2K]
2 years ago
13

Record the following transactions for the month of November 2019 in the cash receipts journal. Total, prove, and rule the cash r

eceipts journal as of November 30.
Nov. 1 Collected $2,300 from Katie Bing, a credit customer on account.
10 Received a check from Mike Drake to pay his $3,700 promissory note plus interest of $240.
13 Received $4,100 from Jessie Cole, a credit customer, in payment of her account.
15 Had cash sales of $26,500 plus sales tax of $2,300. There was a cash overage of $14.
Business
1 answer:
gregori [183]2 years ago
7 0

Answer and Explanation:

The presentation of the cash receipt journal is as follows;

<u>Date   Description    Account     Sale      Sale     Title      Amount   Cash </u>

<u>                                   Receivable tax       Credit    of                        debit</u>

<u>                                   Credit        Payable           Account</u>

<u>                                                     Credit</u>

Nov 1    Katie Bing       $2,300                                                               $2,300

Nov 10  Collection

 From mike drake                                             Note receivable  $3,700

                                                                          Interest income   $240  $3,940

Nov 13 Jessie cole      $4,100                                                                   $4,100

Nov 15  Cash sales                    $2,300   $26,500 Cash overage $14  $28,814

Nov 30 Totals               $6,400  $2,300   $26,500        $3,954        $39,154

You might be interested in
What percentage of those over the age of 75 in the united states has never married?
yan [13]
In the year 2000, the US census showed that 9.1% of those over 75 had not married so the percentage is relatively low and from 75-84 yrs old, about 50% were still married, 40% were widowed and 5.4 % were divorced.
6 0
3 years ago
Economists use the distinction between private and public goods to determine __________
Butoxors [25]

Economists use the distinction between private and public goods to determine what projects and activities should be undertaken by the government.

In the economy, there are different types of goods among which, public goods are goods which are produced by the government or by nature for the welfare of the people without any cost. On the other hand, private goods are the ones manufactured and sold by private companies to earn a profit.

Economists use this distinction between different goods to allow the government to decide which goods are considered public goods so that the government can channel the funds in order to provide the public goods to the economy.

Hence, both public and private goods have their own importance in the economy.

To learn more about public and private goods here:

brainly.com/question/15176802

#SPJ4

8 0
2 years ago
A great business idea is A. the beginning of a great business. B. all you need to succeed. C. something that comes along once in
Kryger [21]

Answer:

A beginning of a great business

Explanation:

Not for sure that the answer

5 0
3 years ago
A household appliances manufacturer needs a new parts supplier for its washers and dryers. The manufacturer advertises for compe
enyata [817]

Answer: Supplier selection process

Explanation: The process of selecting a supplier for the procurement of raw material for producing output is referred to as supplier selection process. In this process, the purchases analyzes deals from various alternatives of suppliers and  choose the one that maximizes the purchasers profit.

Thus, from the above explanation we can conclude that the given case illustrates the supplier selection process.

4 0
3 years ago
For Crane Company, sales is $1700000 (8500 units), fixed expenses are $480000, and the contribution margin per unit is $60. What
const2013 [10]

Answer:

The Margin of safety is $100,000

Explanation:

Price = Sales / number of units = $1,700,000 / 8500 = $200

Contribution margin ratio is the ratio of contribution margin to the sales value. It measure the ratio that contributes in the recovery of fixed cost and making profit.

Contribution margin ratio = Contribution margin / Sale price = $60 / $200 = = 0.3 = 30%

Break-even is the level of sales at which business has no profit no loss situation.

Break-even point = Fixed cost / Contribution margin ratio = $480,000 / 30% = $1600,000

Margin of safety is the level of sales at which the business is safe from making loss. Margin of safety measures the profit after the break-even point.

Margin of Safety = Total sales - Break-even point = $1,700,000 - $1,600,000

= $100,000

6 0
3 years ago
Other questions:
  • A foreign company (whose sales will not affect cornish's market) offers to buy 3,000 units at $17.00 per unit. in addition to va
    13·1 answer
  • Lisa Smith decided to start her CPA practice as a professional corporation, Smith CPA, PC. The corporation purchased an office b
    12·1 answer
  • Carol sold her investment property for $450,000 and had $21,000 in closing costs. The property had a beginning basis of $312,000
    8·1 answer
  • The presence of pollution in the dry cleaning industry leads in the long run to dynamic inefficiencies because:
    6·1 answer
  • Joel is driving down the highway and hits a deer that darts in front of his car. what insurance would cover the damage?
    15·2 answers
  • Fun Stuff Manufacturing produces frisbees using a three-step sequential process that includes molding, coloring and finishing. W
    9·1 answer
  • Acquiring a firm that sells a substitute good will (1pts) Question 19 - Acquiring a firm that sells a substitute good will Selec
    11·1 answer
  • What is a business opportunity?
    14·1 answer
  • Your team consists of three people who are collaborating on a short quarterly report. You are putting the final touches on your
    15·1 answer
  • Describe the elements that must be present for the courts to rule that a contract is unconscionable?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!