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Alik [6]
3 years ago
6

Sally Beauty Warehouse uses the perpetual inventory system to account for its merchandise. On Nov 2, it sold $700 of merchandise

on credit with terms of 2/15,n/30. Demonstrate the required journal entry to record the receipt of payment from the customer on Nov 13, by selecting all of the correct actions below. 1) Debit sales discounts $14 2) Debit cash $686 3) Credit accounts receivables $700
Business
2 answers:
Nutka1998 [239]3 years ago
7 0

Answer:

1) Debit sales discounts $14

2) Debit cash $686

3) Credit accounts receivables $700

Explanation:

nov-02 sold 700

terms 2/15 n 30  

                700

Discount            2%

                   14

Net payment  686

Db Cash_____________686

Db Sales discount_______14

Cr Account receivable_______700

SpyIntel [72]3 years ago
6 0

Answer:

1) Debit sales discounts $14

2) Debit cash $686

3) Credit accounts receivables $700

Explanation:

Sally Beauty Warehouse uses the perpetual inventory system to account for its merchandise. On Nov 2, it sold $700 of merchandise on credit with terms of 2/15,n/30. Demonstrate the required journal entry to record the receipt of payment from the customer on Nov 13, by selecting all of the correct actions below. 1) Debit sales discounts $14 2) Debit cash $686 3) Credit accounts receivables $700

Journal entry is used for documenting business transactions. It bears topics , comments and debit and credit. the correction are stated below

. 1) Debit sales discounts $14

2) Debit cash $686

3) Credit accounts receivables $700

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Teal Company sells televisions at an average price of $814 and also offers to each customer a separate 3-year warranty contract
ki77a [65]

Answer:

A.

Dr Cash 266,178

Cr Sales Revenue 243,741

Cr Unearned Warranty Revenue 22,437

b)Current Liabilities:Unearned Warranty Revenue 90,579

Long-term liabilities:Unearned Warranty Revenue 181,158

Explanation:

Teal Company

A.

Dr Cash (814*327) 266,178

Cr Sales Revenue 243,741

Cr Unearned Warranty Revenue (277*81) 22,437

b)Current Liabilities:Unearned Warranty Revenue 90,579

(327×277)

Long-term liabilities:Unearned Warranty Revenue 181,158

(90,579×2)

4 0
3 years ago
Should eyewitness testimony be allowed in the courtroom? Write at least three paragraphs discussing your position.
Andrews [41]
(Paragraph 1) Should eyewitness testimony be allowed in the courtroom? No but at the same time yes. There are many reasons why they should but shouldn't. It is a risk to their safety, some eyewitnesses are not liable, they could be paid off but at the same time their testimony could help win a case. (Paragraph 2) Depending on a crime, the eyewitness safety could be in danger. If the case was against a member of a gang or mafia. They could send someone after that witness. This is reason why we have the Witness Protection Program. If they testify they put their lives at risk. (Paragraph 3) Having a witness is a key thing to have. If you have a witness you are the one who most likely the one to win the case. In some cases you could have problems with the witness not being liable, getting paid off to not say anything or to lie. Or in most cases if they are confused they will not have them testify. Or they aren't straight on the details and keep changing the story that usually means they are lying on what they saw. Note: This is a summary. Add more and edit it to make it sound like something you would type.
7 0
4 years ago
What will happen to the trade balance and the real exchange rate of a small open economy when government purchases increase, as
kkurt [141]

Answer: When a government purchase increases during a war, be it a local war or a world war. it means that it's savings has reduced, therefore the trade balance will fall. And if the purchase is done to import more goods into the country, the trade balance becomes negative, leading to a deficit.

The exchange rate of the currency will reduce because the country the government is making more currency to be available and surplus, by increasing it's purchase. When they is excess currency in the world market, the currency reduces it value. In a world war, or local war, the exchange rate may not actually reduce because, it will be difficult for the country to have enough money to make its currency to be available in the world market.

7 0
3 years ago
Prepare the issuer's journal entry for each of the following separate transactions. On March 1, Atlantic Co. issues 44,500 share
steposvetlana [31]

Answer and Explanation:

The journal entries are shown below;

On March 1

Cash A/c $303,500

     To Common Stock $3 Par value (44,500 × $3) $133,500

       To Paid in capital in excess of par value $170,000

(Being the common stock issued is recorded)

On April 1

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(Being the common stock issued is recorded)

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Inventory $43,000

Machinery $155,000

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3 0
3 years ago
You are faced with the following alternative choices on Saturday afternoon. You can only do one of these activities. None of the
garri49 [273]

Answer:

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Explanation:

When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice. The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen." Since Choice B is the next best choice to hiking, missing out on the benefits of working out will be my opportunity cost.

3 0
3 years ago
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