Answer:
b.
Explanation:
The company sold 6 advertising spaces that would run from July to December for $400 each.
Total amount received for selling 6 advertising spaces = 6×$400
Total amount received for selling 6 advertising spaces = $2,400
The advertising spaces will run for 6 months i.e., July to December.
So, adjusting entry on 31st July would record the revenue earned for 1 month only.
Total revenue = $2,400
No. of months = 6
Revenue for 1 month = $2,400/6
Revenue for 1 month = $600
Thus, journal entry on receipt of cash as well as adjusting journal entry has been shown below:
Profit-oriented approaches to setting a price to a good are those concerns or strategies that are used in order to determine what the price of a good would be.
There are three types of Profit-oriented pricing approaches and they include:
- <u>Target profit </u>
- <u>Target return-on-sales</u>
- <u>Target return-on-investment pricing.</u>
These are all used to create a balance to the profits made and the cost of a product. However, the return on sales is good because it makes predictions about demand for the product and makes a suitable pricing for the product.
Please note that your question is incomplete and i gave you a general overview which should help you get the correct answer.
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The item that should not be among Lucy's main considerations in selecting these accounts are that the account recommended for somebody with different needs.
<h3 /><h3>What is checking account?</h3>
A transaction account is a deposit account kept at a bank or other financial institution. It is also known as a checking account, checking account, current account, request deposit account, or shared draft account at credit unions.
In the above situation, Lucy will have to pay the amount of interest to be on deposits, and eligible to any advantages of having all the accounts at the same bank.
Lucy will also bear the fees for having multiple savings accounts, as having a multiple accounts increases the fees of all the accounts.
The account cannot be opened for the need of somebody, it is opened for the banking transactions and for depositing the money.
Therefore, option A is correct.
Learn more about the checking account, refer to:
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