Answer:
Date General Journal Debit Credit
<em>Dec. 18</em> Cash $259,000
Unearned revenue $259,000
(To record advance receipt of cash)
<em>Jan. 23</em> Cash (2590000 - 259000) $2,331,000
Unearned revenue $259,000
Sales revenue $2,590,000
(To record cash sale)
<em>Jan. 23</em> Cost of goods sold $1,590,000
Inventory $1,590,000
(To record cost of goods sold)
Answer:
Cash borrowed = $120,000
Interest on promissory note = 10%
Explanation:
Answer:
c. gasoline station to a motorist in Los Angeles.
Explanation:
A final good is a good that is used by the consumer to satisfy current wants and it is not used to produce another good.
Gasoline would be used by the fuel station in San Francisco to generate cash by selling it. So it is not a final good.
The bus company uses the fuel as an input needed to generate cash. It is not a final good to the bus company.
I hope my answer helps you
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