Answer and Explanation:
The adjusting entry is as followS:
Rent expense $2,500
To Prepaid rent $2,500
(Being rent expense is recorded)
Here the rent expense is debited as it increased the expenses and credited the prepaid rent as it decreased the assets
The rent for one month is
= $15,000 ÷ 6 months × 1 month
= $2,500
Answer:
E) Social commerce site
Explanation:
As the name implies, a social commerce site like Groupon.com is a business that combines aspects of social media with commerce. The social media aspect is meant to be collaborative in the sense that people interact with each other in order to increase the sales of the business.
In this scenario, people collaborate with each other by reaching a certain treshold that allows them to get a benefit, the discount. The treshold is the minimum number of people that have to purchase the product for the discount to become effective.
This strategy benefits both Groupon.com with more sales revenue, and benefits customers because they get a discount, and take part in a social activity.
50%
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