Answer and Explanation:
The journal entries are shown below:
1. Processor charges - Credit card expense Dr ($10,500 × 3%) $315
Cash Dr $10,185
To Sales Revenue $10,500
(Being the credit card expense is recorded)
For recording this we debited the cash and expenses as it increased the asset and expenses and credited the sales revenue as it also increased the revenue
Processor charges - debit card expense Dr ($6,000 × 3%) $180
Cash Dr $5,820
To Sales Revenue $6,000
(Being the debit card expense is recorded)
For recording this we debited the cash and expenses as it increased the asset and expenses and credited the sales revenue as it also increased the revenue
2. Cash Dr $10,500
To Sales Revenue $10,500
(Being the cash receipt is recorded)
For recording this we debited the cash as it increased the asset and credited the sales revenue as it also increased the revenue
Cash Dr $6,000
To Sales Revenue $6,000
(Being the cash receipt is recorded)
For recording this we debited the cash as it increased the asset and credited the sales revenue as it also increased the revenue
The company approaches said Youtuber, offering sponsorships, and it is up to the Youtuber to accept or decline
<span>GDP per capita is not a good measure of the standard of living because there is no attention paid to the price level in GDP per capita. For example, your GDP could be really high such as in places like Japan(largest economy in the world at the moment) so their GDP per capita is high. However, their cost of living is also very high(due to lack of land area) leading to a low standard of living.</span>
<span>Internal financing is when a firm uses its profits as
a source of capital for a new investment. Instead of the firm obtaining financing
from the outside, the firm can use its profits to acquire new investment. This
can be considered less expensive than external financing because no transactions
costs will be incurred. </span>
The correct answer should be that <span>the total surplus increases but by less than the amount of the tax. This happens if the tax is not larger than the producer surplus in which case it would negate and the total would not grow at all. This doesn't happen however since imposing such higher taxes is impossible and riots would surely happen.</span>
