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goldfiish [28.3K]
3 years ago
6

How does the following transaction impact cash flow?

Business
1 answer:
Sloan [31]3 years ago
5 0

Answer:

Increase

The accounts receivable asset shows how much money customers who bought products on credit still owe the business; this asset is a promise of cash that the business will receive. Cash doesn’t increase until the business collects money from its customers.

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1/1/2019 sally miller purchased $500 of merchandise on account; the cost of the item is $310
timofeeve [1]

<u>Solution and Explanation:</u>

date                           Particulars                                  Debit                    Credit

1st january, 2019    Account receivable                  500

                                Sales revenue                                                            500

                    (To record sales on account)

                        Cost of goods sold                              310

                       Merchandise inventory                                                      310

             (To record cost of goods sold)

31st january, 2019       Notes receivable                     500

                                 Accounts receivable                                                 500

(To record notes receivable for the 60 days at the rate of 6 percent)

1st April, 2019 Allowances for Doubtfull accounts          500

                        Notes receivable                                                                500

(In order to write off Sally Millers account, no interest revenue is to be recognised)

2nd May, 2019           Notes receivable                             500

                              Allowances for doubtful debts                                     500

( in order to record re-instatement)

2nd May, 2019             Cash                                                  507.50

                                  Notes receivable                                                        500

                               Interest revenue                                                             7.5

( In order to record the payment received)

3 0
3 years ago
Main memory divided into a number of static partitions at system generation time is _______ .
crimeas [40]

The main memory divided into a number of static partitions at system generation time is fixed partitioning.

<h3>What is the main memory?</h3>

Memory is a computing term for a system or device that stores data for immediate use in a computer, computer hardware, or other digital electronic devices. The terms main memory and primary storage are frequently used interchangeably. The store is a dated word for memory.

The principal internal storage area in a computer, sometimes known as RAM, is the main memory (random access memory). Specs like 4GB, 8GB, 12GB, and 16GB usually invariably relate to the RAM's storage capacity. On the other hand, a computer's disk or solid-state storage capabilities are commonly 128GB or 256GB or greater.

Fixed partitioning refers to the division of the system's main memory into a number of static partitions.

To learn more about main memory refer to:

brainly.com/question/24688176

#SPJ4

4 0
1 year ago
The aggregate supply curve slopes a. downward because firms can sell more at lower prices. b. upward because firms can hire work
RideAnS [48]

Answer:

The correct option is (b)

Explanation:

Aggregate supply curve is upward sloping as output increase with the increase in price. In the short run, wage rate is fixed. As such, in the short run, firms can hire more workers at fixed wage rate. An increase in price indicates more profits, thereby increasing output.

This is the reason for upward sloping AS curve.

4 0
2 years ago
Individuals join groups for two primary reasons: to enjoy the company of others and to accomplish goals unattainable by themselv
Bond [772]

The given statement about the reasons why individuals join groups is True.

<h3>What is a Group?</h3>

This refers to the collection of individuals in unison to achieve a set goal or to expand their interests, leveraging on the network of other members.

Hence, we can see that the given statement that Individuals join groups for two primary reasons: to enjoy the company of others and to accomplish goals unattainable by themselves is true.

Read more about interest groups here:
brainly.com/question/14363531

5 0
1 year ago
One disadvantage of a sole proprietorship as a form of business organization is that: a. owners of sole proprietorships generall
VladimirAG [237]

Answer:

<u>e. owners of sole proprietorships can lose all their personal assets if the business is sued or fails.</u>

Explanation:

<em>Remember</em>, in a sole proprietorship form of business ownership, the owner's personal assets are not usually separated from the business since the business isn't viewed as a separate legal entity.

Hence, in a case where the business incurs liability or sued/fails, <u>the owner's personal assets can be targeted in the lawsuit and may lead to loss of </u><u>all their personal assets.</u>

3 0
2 years ago
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