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pav-90 [236]
2 years ago
9

What are the five main columns of a journal?

Business
1 answer:
inn [45]2 years ago
6 0
<span>The general journal is used to track categories of transactions and includes all company transaction. All </span><span>journal entries are recorded in the general journal.</span>
The five main columns of a journal are: date, account titles, posting reference, debit, and credit columns.
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According to federal law, an insurance company under the provisions of the Investment Company Act of 1940 must allow a variable
torisob [31]

Answer: 24 months

Explanation:

The law of the state allows for periods more than 24 months, a 2 years of conversion privilege is required by federal law.

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2 years ago
Record the following transactions for Lett Company. (Credit account titles are automatically indented when the amount is entered
Tanya [424]

A transaction is any monetary business event that impacts a business's financial statements.

<h3>The journal entries </h3>

The journal entries are as follows

On August 4

Account Receivable $610

 To Sales Revenue   $610

(Being the goods sold on credit basis is recorded)

On August 7

Sales Return and Allowances $60

  To Accounts Receivable $60

(Being the sales allowance is recorded)

On August 12

Sales Discount   $11  

Cash $539

 To Accounts Receivable $550

(Being the amount paid is recorded after considering the 2% discount

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7 0
1 year ago
If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are.
BigorU [14]

FOB shipping point

Explanation:

FOB affects the buyer's inventory cost adding liability for shipped goods increases inventory costs and reduce net income.

3 0
1 year ago
José, the sales manager for a software development firm, is working on the problem of increasing sales by using the rational mod
IgorLugansk [536]
 Jose needs to implement and evaluate the training program chosen i<span>n the fourth and final step.
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7 0
3 years ago
Allocative inefficiency due to unregulated monopoly is characterized by the condition:____.
Lerok [7]

Allocative inefficiency due to unregulated monopoly is characterized by the condition: P>MC.

Allocative inefficiency happens whilst the purchaser does no longer pay a green price. A green charge is one that just covers the costs of manufacturing incurred in supplying the good or provider. Allocative efficiency occurs while the company's fee, P, equals the greater (marginal) cost of delivery, MC

Monopolies can boom fees above the marginal fee of manufacturing and are allocative inefficient. that is because monopolies have marketplace strength and may boom rate to reduce client surplus.

Allocative efficiency occurs while consumer demand is completely met by means of supply. In other words, organizations are presenting the precise supply that clients want. For an instance, a baker has 10 customers trying an iced doughnut. The baker had made exactly 10 that morning – that means there's an allocative performance.

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7 0
1 year ago
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