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3 years ago

Presented below is information from Headland Computers Incorporated.

Business

1 answer:

oksian1 [2.3K]3 years ago

7 0

Answer:

July 1

Dr Accounts receivable $22,600

Cr Cash $22,600

Dr Sales returns and allowances $1,334

Cr Allowances for Sales returns and allowances $1,334

July 10

Dr Cash $21,922

Dr Sales Discount $678

Cr Accounts Receivable $22,600

July 17

Dr Accounts receivable $256,100

Cr Sales revenue $256,100

July 30

Dr Cash $256,100

Cr Accounts receivable $256,100

Explanation:

Preparation of the necessary journal entries for Headland computers.

July 1

Dr Accounts receivable $22,600

Cr Cash $22,600

Dr Sales returns and allowances $1,334

Cr Allowances for Sales returns and allowances $1,334

July 10

Dr Cash $21,922

($22,600-$678)

Dr Sales Discount $678

(3%*$22,600)

Cr Accounts Receivable $22,600

July 17

Dr Accounts receivable $256,100

Cr Sales revenue $256,100

July 30

Dr Cash $256,100

Cr Accounts receivable $256,100

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D is a college alum gets trapped in a blizzard on his way home. He was furnished with nourishment and haven by an old couple and he returned home once the climate was clear. D's dad F guaranteed the couple to pay $500 recorded as a hard copy for their assistance and the couple acknowledged. In any case, as D and F had contrasts later, F denied paying that sum.

Case investigation:

Thought: Consideration is the advantage or worth got by the gathering for satisfaction of their guarantee. On the off chance that there is no thought, the agreement isn't enforceable. Following are the components of thought:

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3 years ago

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3 years ago

Read 2 more answers

1. What is the current balance that Joe Doe owes? $1270.54

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Explanation:

1. $1270.54. This is evident since this was written at the bottom of the credit card statement.

2. $500. We find this under the row for payments.

Purchases made:

3/25 Groceries land: $142
3/27 Book store: $33
4/1 Restaurant: $125
4/19 Bob's Auto: $425

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4. Because he made late payments and it comes with a $35 penalty fee as stated in the credit policy of the company.

5. $10.54.

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7. Purchases: 13.99%, Balance transfers: 13.99%, Cash Advances: 25.99.

8. $25.

9. 4/29/19.

10. No, because there is no cash advance charge on the statement.

11. In other to inform the card-holders about the financial burdens attached to paying only the minimum payment due.

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