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UkoKoshka [18]
3 years ago
9

Webmail

Business
1 answer:
malfutka [58]3 years ago
4 0

Answer:

Try and make it more explanatory I don't understand

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Journalize all transactions for Jo Jo Music. Round all amounts to the nearest dollar. (For notes stated in days, use a 360-day y
DIA [1.3K]

Answer: Please refer to Explanation

Explanation:

The following is a compound journal. I shall record the accounts that need to be debited first and then the account to be credited.

Dec 6

DR Notes Receivable - Concord Sounds $9,000

CR Accounts Receivable - Concord Sounds $9,000

(To record note received as settlement)

Dec 31

DR Interest Receivable (9,000 * 12% * ((25 days since Dec 6)/360) $ 75

CR Interest Revenue $75

(To record accrued interest)

Dec 31

DR Interest Revenue $75

CR Cash $75

(To record closing entry on interest revenue)

Mar 6

DR Cash $9,270

CR Notes Receivable - Concord Sounds $9,000

CR Interest Receivable $75

CR Interest Revenue (9,000 * 12% * 65/360) $195

(To record Collected note)

Jun 30

DR Notes Receivable - Main Street Music $11,000

CR Cash $11,000

(To record Note Received)

Oct 2

DR Notes Receivable - Salem Sounds $9,000

CR Sales Revenue - Salem Sounds $9,000

(To record Note Received)

Dec 1

DR Accounts receivable - Salem Sounds $9,180

CR Notes Receivable $9,000

CR Interest Receivable (9,000 * 12% * 60/360) $180

Dec 1

DR Allowance for Bad Debt $9,180

CR Accounts Receivable - Salem Sounds $9,180

(To record receivable written off)

Dec 30

DR Cash $11,660

CR Notes Receivable - Main street Music $11,000

CR Interest Revenue (11,000* 12% * ( 6 months / 12) ) $660

(To record collection of Note - MS)

6 0
3 years ago
Rebotar Inc, makes basketballs. Their fixed costs are $3450 Variable costs are $12 per basketball, If the basketball is priced a
worty [1.4K]

Answer:

Break-even points = 265.38

Explanation:

Given:

Fixed cost = $3,450

Variable costs = $12

Selling price = $25

Number of balls sold = 300

Find:

Break even costs

Computation:

Contribution per unit = Sales - Variable costs

Contribution per unit = $25- $12

Contribution per unit = $13

Break-even points = Fixed cost / Contribution per unit

Break-even points = $3,450 /$13

Break-even points = 265.38

6 0
3 years ago
Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the compa
11111nata11111 [884]

Answer:

Straight rebuy

Explanation:

When a purchasing agent performs a straight rebuy, he/she is in a situation where the same products or services are bought over and over again on a relatively steady basis.

The products and services purchased are also simple and common products or services, nothing very complex or specialized that requires looking for new information or investigating who the best vendor might be.

5 0
3 years ago
An online clothing boutique decides to install a web or Internet cookie in the browser of each user who visits its site. The pur
____ [38]

Answer:

a practice that may have longer term implications on the ethics of personal privacy

Explanation:

Cookies are a tool that is used on websites to identify user browser history.

The information on a user's browsing habits is then used by businesses to tailor display information relevant to what they are usually interested in.

Usually they are a safe way to improve browsing experience, but they can be used by criminals to spy on people and gain unwanted access to their data.

Cookies save information about a user session by storing data like usernames.

There is a long term danger of having one's browsing history tracked without their consent

6 0
3 years ago
Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019. For t
Colt1911 [192]

Answer: $19000

Explanation:

From the question, we are informed that Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019 and that for the year ended December 31, 2020, Vaughn reported bad debt expense of $31000 in its income statement.

The amount that Vaughn debited to the appropriate account in 2020 to write off actual bad debts will be:

= $31000 - ($190000 - $178000)

= $31000 - $12000

= $19000

8 0
3 years ago
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