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Dmitry_Shevchenko [17]
3 years ago
7

Jax Recording Studio purchased $8,200 in electronic components from Music World. Jax signed a 90-day, 10% promissory note for $8

,200. Music World's journal entry to record the sales transaction is:
A. Debit Notes Receivable $8,405; debit Interest Receivable $205; credit Sales $8,200
B. Debit Notes Receivable $8,405; credit Sales $8,405
C. Debit Accounts Receivable $8,405; credit Sales $8,405
D. Debit Accounts Receivable $8,200; credit Sales $8,200
E. Debit Notes Receivable $8,200; credit Sales $8,200
Business
1 answer:
Brilliant_brown [7]3 years ago
6 0

Answer:

E. Debit Notes Receivable $8,200; credit Sales $8,200

Explanation:

According to the problem, computation of the given data are as follows,

Sales on credit = $8,200

Notes receivable = $8,200

So, journal entries of the sales transaction are as follows,

Notes receivables A/c Dr.       $8,200

      To, Sales A/c.                   $ 8,200

(Being sales of equipment is recorded)

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Capricorn Creative Inc., a U.S.-based advertising firm, was the first in the advertising industry to identify the growth potenti
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Amy owns a salon and spa. She’s leasing a prime piece of real estate in which she’s installing salon chairs, counters, massage t
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The correct answer to this open question is the following.

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6 0
3 years ago
New equipment was purchased by Hunter Corporation at a list price of $94,000, with credit terms of 2/10, n/30. Payment was made
IRISSAK [1]

Answer:

$102,240

Explanation:

List price $94,000

Less list price credit term(2%×$94,000)$1,880

Balance $92,120

Add: Discount period $7,800

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Labor cost $1,380

Total cost $102,240

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8 0
3 years ago
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Answer:

The difference in the direct materials cost per equivalent unit between the two months is $0.70.

Explanation:

First calculate the direct cost per equivalent unit in September

Direct cost per equivalent unit  = Total Cost / Total Equivalent units

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<u>Difference between the two months.</u>

September   =  $1.60

Less August = ($0.90)

Difference      = $0.70

8 0
3 years ago
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