1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
rjkz [21]
2 years ago
8

May 24 Sold merchandise on account to Old Town Cafe $18,450. The cost of goods sold was $11,000.

Business
1 answer:
zubka84 [21]2 years ago
7 0

Answer:

Date       General Ledger                                        Debit        Credit

May 24   Accounts Receivable-Old Town Café   $18,450

                      Sales                                                                   $18,450

              Cost of goods sold                                 $11,000

                       Inventory                                                            $11,000

Sept. 30  Cash                                                         $6,000

                      Allowance for Doubtful Accounts                      $12,450

                      Accounts Receivable-Old Town Cafe               $18,450

Dec. 7    Accounts Receivable-Old Town Cafe      $12,450

                      Allowance for Doubtful Accounts                     $12,450

              Cash                                                             $12,450

                       Accounts Receivable-Old Town Cafe               $12,450

You might be interested in
Which of the following serves as the justification for the periodic recording of depreciation expense? a. Association of efforts
SIZIF [17.4K]

Answer:

"B"

Explanation:

Depreciation is a practice of systematic allocation of the cost of an asset to the income generated over its useful life time , either on a straight line method or reducing balance.

As demanded by the matching concept of accounting , revenue are expected to be linked to associated expenses otherwise profit will end up being overstated and and management misinformed and wrong decisions likely to be taken

7 0
3 years ago
Because the _____ is the rational part of the personality, it sometimes plays referee between the wishes of the _____ and the __
snow_tiger [21]
<span>Because the ego is the rational part of the personality, it sometimes plays referee between the wishes of the Id and the Superego. The ego or your ego is referred to be your conscious mentality and it is also your perception of your own self.</span>
7 0
3 years ago
Potential gdp refers to 1) the difference between the highest level of real gdp per quarter and the lowest level of real gdp per
Sholpan [36]
4.

Potential GDP is the maximum output when there is full employment of resources or the factors of production.
5 0
3 years ago
The division of productive activities among persons and regions so that no one individual or region is totally​ self-sufficient
ankoles [38]

The division of productive activities among persons and regions so that no one individual or area is totally self-sufficient is known as specialization.

Specialization is a business technique used to concentrate on producing a very narrow range of goods or services in order to achieve maximum productivity, subject-matter knowledge, and industry leadership. Specialization used businesses claim to get higher returns on their investments. Specialization is the antithesis of diversification, which is when a business expands outside of its primary business. Regions of a nation or even entire countries may be considered specializations. Many nations worldwide focus on producing or providing services that are unique to their region while importing other products and services.

Learn more about specialization here:

brainly.com/question/15191030

#SPJ4

8 0
1 year ago
When the prisoners' dilemma game is generalized to describe situations other than those that literally involve two prisoners, we
Darina [25.2K]

C. can be difficult to maintain, even when cooperation would make both players of the game better off.

The Prisoner's Dilemma is a paradox that attempts to explain why two rational decision makers working in their own best interest might not cooperate with someone else even if it ultimately would be better for both of them.

4 0
2 years ago
Other questions:
  • A company completes 21,000 units this month and has ending goods in process inventory of 3,000 units which are estimated to be 4
    12·1 answer
  • My starbucks idea, which provides customers a location to post suggestions, is a type of g
    10·1 answer
  • In the 1950s, imports and exports of goods and services constituted roughly 4% to 5% of U.S. GDP. In recent years, exports have
    14·1 answer
  • You are a bank loan officer. Carter has come into your office and applied for a loan for a car. You ran his credit report, and h
    8·1 answer
  • For incentive pay to motivate employees to contribute to the organization's success, the pay plans must be well designed. Which
    8·1 answer
  • Dave brags to his dad that his $45,000 starting salary as a computer programmer is much higher than his dad's $28,000 starting s
    9·2 answers
  • If you are from a family with poor money skills , chances are you will have poor money skills too. True or false?
    15·2 answers
  • Why might Robert choose to attend a technical school rather than a four-year university?
    5·1 answer
  • What is application software used for?
    13·1 answer
  • assuming everything else stays the same, an increase in the price of laptop computers will of laptop computers.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!