Answer:
Debit Supplies expenses for $275
Office supplies for $275
Explanation:
Before the adjusting entry, the following adjustment has to be made first:
Ending balance of supplies that has not been adjusted = $379
Physical ending balance = $104
Amount of used supplies during the period = $379 - $104 = $275
This $275 will be recorded as supplies expense. Therefore, the adjusting entry will be as follows:
<u>Particulars Dr ($) Cr ($) </u>
Supplies expenses 275
Office supplies 275
<em><u>(To record the supplies expense for the period.) </u></em>
The above entries will then reduce enduing balance of supplies from $379 to $104.
B. People with the same job title may perform different duties
Answer:
C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000
Explanation:
Assuming for now that credit customer will avail the cash discount, the following journal entry shall be made on November 10 by Flores mills in respect of credit sales made by it.
Debit Credit
Accounts receivable $7,840
Cash discount $160
(8000*2%)
Sales $8,000
Based on the above discussion, the answer shall C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000
Answer: PRODUCT DIFFERENTIATION
Explanation:
This is a marketing strategy that some companies employ whereby they aim to distinguish their products from that of competitors by giving it certain features that expound on its strength in the market.
This strategy can create a competitive advantage for goods that will ensure that the company maintains a dominant place in the market.
