Answer:
Betty Incorporated
Journal Entries:
June 3:
DR Inventory $7,100
CR Accounts Payable (North Inc.) $7,100
To record the purchase of goods on account with terms 2/10, n/30.
June 5:
DR Accounts Payable (North Inc.) $2,600
CR Inventory $2,600
To record the return of goods on account.
June 6:
DR Inventory $2,500
CR Accounts Payable (South Corp.) $2,500
To record the purchase of goods on account with terms 2/10, n/30.
June 11:
DR Accounts Payable (North Inc.) $4,500
CR Cash Account $4,410
CR Cash Discount $90
To record the payment of balance owed to North Inc.
June 22:
DR Accounts Payable (South Corp.) $2,500
CR Cash Account $2,500
To record the payment of balance owed to South Corp.
Explanation:
The trade terms 2/10, n/30 mean that both North Inc. and South Corp. offered 2% cash discounts on amount paid by Betty Incorporated if it could settle its bills within 10 days. The net allowed credit days are 30 days, after which Betty Incorporated could be charged interest for late payment. It did not utilize the discount offered by South Corp. as it paid its bills after 16 days instead of within 10 days as stated in the trade terms.
Answer:
The correct answer is letter "A": Uncollectible accounts are not anticipated or immaterial.
Explanation:
Direct write-off is a method used to record debts from credit sales. An allowance account is not used with this method but an account receivable directly written-off for the outstanding amount once it is determined to be uncollectible. This method is used for tax-reporting purposes.
Does not reflect the marketing condition in the new products projected market area is the greatest danger to McDonald's is in choosing a test-site city.
<h3>What market area means?</h3>
A market area is a surface that displays the demand or supply for a specific item. It covers the locations where a factory's products are sent, while it is the tributary area from which a retail store pulls its clients.
Different areas of marketing are Digital marketing, Content marketing, Social media marketing, Visual marketing, Search engine marketing, Influencer marketing.
Thus, it does not reflect the condition of new project.
For more details about market area, click here
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Answer: a. Boot camp is the military's version of employee orientation.
Explanation:
To become an employee in a company, it is standard practice for the employer to give the employee an orientation so that they may be able to perform better at their jobs because they would know what is expected of them and how to go about achieving this.
This is the same for the military. When they send recruits to boot camps, they are doing their version of employee orientation because the recruit will learn what Uncle Sam expects from them and how they are to accomplish these tasks.
