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
marshall27 [118]
2 years ago
5

jervis sells 3400 of its accounts receivable to northern bank in order to obtain necessary cash northern bank charges a 2% facto

ring fee what entry should jervis make to record the transaction
Business
1 answer:
lesya692 [45]2 years ago
6 0

Answer:

Factoring fee = 2% * Account Receivable

= 2% * $3,400

= $68

​

Date  Account Titles and Explanation     Debit    Credit

          Cash                                                   $3,332

          Factoring expenses                           $68

                    Account receivables                             $3,400

          (To record the receipt of cash against the receivables)

You might be interested in
A Condominium owner files a declaration with the county clerk which divides his individual ownership and ownership in common ele
Degger [83]

Answer:

subdivision

Explanation:

A real property subdivision takes place when a real property (parcel of land, house, etc.) is divided into smaller areas. The whole idea behind a subdivision is that it should be easier to sell the property in smaller parts.

When a subdivision is carried out on a condominium, the physical space is not divided, rather the property time is divided into time share units. In this case, a person can purchase the right to use that condominium during 3 weeks each year.

4 0
3 years ago
Gleason Company reported net income of $242,000 for the year. During the year, accounts receivable increased by $32,000, account
Degger [83]

Net cash provided by operating activities for the year is $265,000. $102,000. $242,000. $337,000 is :- <u>$265,000</u>

What is depreciation expense?

A fixed asset's share that has been deemed consumed in the current period is subject to depreciation expense. The cost is subsequently added to the expense list. With this charge, the carrying amount of fixed assets will be steadily decreased as their value is depleted over time. There is no cash outflow related to this item because it is non-monetary.

When an entry is made to the depreciation expenditure account, the contra asset account that offsets the fixed assets (asset) account is the accumulated depreciation account. Over the course of a fiscal year, the balance in the depreciation expenditure account grows; at year's end, the account is flushed out and its balance is reset to zero.

To learn more about depreciation expense with the help of given link:

brainly.com/question/25530648

#SPJ4

4 0
1 year ago
Read 2 more answers
In the context of a SWOT analysis, which of the following would be considered a weakness for an organization?
snow_lady [41]
The answer is D. Imitable products and servicesd
3 0
3 years ago
Consider a hypothetical closed economy in which households spend $0.75 of each additional dollar they earn and save the remainin
Nata [24]

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

1) Marginal propensity to consume (MPC) for this economy is 0.75 as it denotes the spending of the household and saving of 0.25 and the spending multiplier for this economy is

= Spending Multiplier(M)

= 1 ÷ 1 - MPC

= 1 ÷ 1-0.75

= 1 ÷ 0.25

= 4

2). Decrease in government purchases will lead to a decrease in income, generating an initial change in consumption

= -Amount of Government Decrease Purchases by × MPC

= -$250 billion × 0.75

= -$187.5 billion

3). Decrease income again, causing a second change in consumption

= Amount Decrease in Government Purchases × MPC

= -$187.5 billion × 0.75

= $140.6 billion

4).Total change in demand resulting from the initial change in government spending

=  Amount of Government Decrease Purchases by × Spending Multiplier(M)  

= $250 × 4

= $1,000 billion

= $1 trillion

As we can see that the income falls by $1000 billion in the end, so AD shifts to the left by the size of $1 trillion

In the question the graph is missing. Kindly find the attachment for both of question and answer

5 0
2 years ago
Two factors that will influence gabbie's decision are the fact that she is not a morning person and that she is interested in ha
Travka [436]

Answer: Psychological

Explanation: A consumers intention to buy the product doesn't always lead to the actual purchase. There are various factors which needs to be considered. Psychological, substitution effect, the need of the product.

Gabbie will look for two things while purchasing the fight ticket, as she is not a morning person , she will prefer a flight in the afternoon or an evening or a night flight. And she would specifically look for a flight with WIFI. So this is psychological effect which influences the decision of Gabbie.

3 0
3 years ago
Read 2 more answers
Other questions:
  • Since becoming a senior vice president at her firm, Malaika has checked in informally with workers who reported concerns related
    5·1 answer
  • Peters, Chong, and Aaron are dissolving their partnership. Their partnership agreement allocates each partner an equal share of
    9·1 answer
  • The introduction of diet coke by the Coca Cola Company is an example of ________.A) line extensionB) brand harmonizationC) categ
    15·1 answer
  • A business promises to pay the investor of $6000 today for a payment of $1500 in one year's time, $3000 in two years' time, and
    14·2 answers
  • How would you make a convincing case that open trade in goods and services as well as free flow of foreign direct investment wil
    14·1 answer
  • An investigator conducting a study of a medical device under an ide is required to complete and sign what?
    5·1 answer
  • What were the consequences of mass production?
    14·1 answer
  • In 30 words or fewer, explain why it is important to write your personal information on an application.
    6·1 answer
  • Pierce Which of the following statements is therefore necessarily true for Pierce? has a concave utility of wealth function, u(x
    10·1 answer
  • A town passes a zoning ordinance preserving the architectural style of an area and requiring plantings in the parking strips. Th
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!