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
jok3333 [9.3K]
3 years ago
8

Presented below is information from Bramble Computers Incorporated. July 1Sold $20,000 of computers to Robertson Company with te

rms 3/15, n/60. Bramble uses the gross method to record cash discounts. Bramble estimates allowances of $1,300 will be honored on these sales. 10Bramble received payment from Robertson for the full amount owed from the July transactions. 17Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30The Clark Store paid Bramble for its purchase of July 17.
Prepare the necessary journal entries for Perez Computers.
Business
1 answer:
ddd [48]3 years ago
4 0

Answer and Explanation:

The journal entries are shown below:

On July 1

Account receivable $20,000

          To Sales revenue $20,000

(Being sales is recorded)  

Sales return and allowance  $1,300  

      To Allowance for sales returns and allowance $1,300

(Being the estimation of the sales return is recorded)  

On July 1

Cash ($20,000 × 97%) $19,400

Sales discount $600

       To Account receivable  $20,000

(being cash is recorded)

On July 17

Account receivable $200,000

       To Sales revenue  $200,000

(Being account receivable is recorded)

On July 30

Cash $200,000

       To Account receivable $200,000

(Being cash is recorded)

You might be interested in
You have a portfolio that is equally invested in Stock F with a beta of .94, Stock G with a beta of 1.36, and the market. What i
ludmilkaskok [199]

Answer:

Beta protfolio= 1.15

Explanation:

Giving the following information:

Stock F:

Beta= 0.94

Stock G:

Beta= 1.36

<u>To calculate the beta of the portfolio, we need to use the following formula:</u>

Beta protfolio= (proportion of investment A*beta A) + (proportion of investment B*beta B)

Beta protfolio= (0.5*0.94) + (0.5*1.36)

Beta protfolio= 1.15

6 0
3 years ago
If a researcher creates the idea for a project and is not listed in the preferred author order position on resulting publication
Inessa [10]

Answer:

The correct answer is D. No; instead it is a type of authorship dispute.

Explanation:

Ideas alone are not protected by copyright, even if they are original. What copyright protects is the formal expression of ideas. That is to say, the ideas must have been expressed or fixed in some support to enjoy the protection that gives copyright.

If the author or rights holder considers that an eventual violation is being presented, he can undertake the defense of his interests against third parties through civil or criminal actions or by going to conciliation regarding the infringement of economic rights or the compensation of damages for the violation of moral and economic rights.

7 0
4 years ago
What is the main problem that sellers suffering from marketing myopia​ face?
Tanya [424]
The answer is "<span>They focus more on products than the​ customer's underlying need.".
</span>
Marketing Myopia is marketing term as it shows by its name, referred to short-sighted and inward looking way to deal with promoting that spotlights on the requirements of the organization as opposed to characterizing the organization and its items as far as the clients' needs. It brings about the inability to check and accommodates to the quick changes in their business sectors or markets.
8 0
3 years ago
Read 2 more answers
Classify each of the following items as either :
grigory [225]

Answer:

A. Current liability

1. 60-day promissory note.

2. Salaries payable.

3. FICA taxes payable.

4. Income taxes payable.

5. Accounts payable.

B. Long-term liability

1. Note payable due in full in two years.

C. Not a liability

1. Payment of a 4-year term loan due this year.

2. Payment of a 30-year term loan due this year.

Explanation:

Current liability refers to a short-term liability that is that is due for a payment within a year.

Long-term liability refers to a liability that is that is due for a payment more than one year in the future.

Not a liability - This implies that a liability is no longer a liability the moment a payment is made for it or the moment it is paid.

Based on the above, we therefore have:

A. Current liability

1. 60-day promissory note.

2. Salaries payable.

3. FICA taxes payable.

4. Income taxes payable.

5. Accounts payable.

B. Long-term liability

1. Note payable due in full in two years.

C. Not a liability

1. Payment of a 4-year term loan due this year.

2. Payment of a 30-year term loan due this year.

6 0
3 years ago
Aaron questions whether there is consideration for his contract with Banquet Hall to exchange his musical performance of country
9966 [12]

Answer:

The answer is legally sound

Explanation:

3 0
3 years ago
Other questions:
  • As one increases the number of periods used in the calculation of a moving average,a.greater emphasis is placed on more recent d
    5·1 answer
  • Your group has a presentation to the class in two weeks. moe believes that the presentation should be similar to a presentation
    14·1 answer
  • A combination of news covered by the media that boosts sales without having to pay is best described by the term ________.
    11·1 answer
  • What is a petty cash book?
    15·2 answers
  • La página web = la página<br>O<br>A. clic<br>OB. red<br>O<br>C. navegador<br>D. electrónica​
    9·2 answers
  • A real estate contract or land contract is described as a method of financing often substituted for mortgage or trust deed finan
    12·1 answer
  • The Parvizians own several oriental rug stores in and around the Washington, DC, metropolitan area. It is expected that as each
    10·1 answer
  • The substitution effect is the change in the quantity demanded of a good that results fromâ ______________, holding constant the
    6·1 answer
  • What is does it mean to be financially illiterate
    15·1 answer
  • The unit contribution margin is calculated as the difference between: _________
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!