Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $768,000
Service Charge Expense A/c $32,000
To Accounts Receivable A/c $800,000
(Being the cash is received and the remaining balance is debited to the cash account )
The computation of the service charge expense is shown below:
= Accounts Receivable × service charge percentage
= $800,000 × 4%
= $32,000
<span>You've just created and e-mailed the financial statements to your boss. What is the next step you should do in accounting cycle? Close out the revenue and expense accounts. After the financial statements are prepared all nominal accounts which include the revenue and expenses, should be closed out to zero. This allows for the accounts to be at an even start for the next accounting cycle.
</span>
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The correct option is Option A - using credit to pay for purchases.
Answer: A clear statement of the problem
Explanation:
The opening of a direct claim message should clearly state the problem that you would like to be addressed by the receiver and would set the tone for the rest of the message.
Claim messages are formal messages and as such, should be clear and concise so that the message is communicated effectively and there is a lesser chance of the message being misread. This is why the message should be clearly stated, so that the receiver understands it and responds in kind.
