Answer:
C. Debit to Cash of $43,650, a Debit to Factoring Fee Expense of $1,350, and Credit to Account Receivable of $45,000
Explanation:
Assuming the company factored the amount of $45,000 of its ACCOUNTS RECEIVABLE and was charged a 3% FACTORING FEE. The appropriate journal entry to record this transaction would include a:Debit to Cash of $43,650, a Debit to Factoring Fee Expense of $1,350, and Credit to Account Receivable of $45,000
Debit Cash $43,650
(97*$45,000)
Debit Factoring Fee Expense of $1,350
($3%*45,000)
Credit Account Receivable $45,000
Answer: b. $106,700
Explanation:
The marketing and administrative expense budget is based on budgeted unit sales, which are 5,500 units for June.
The variable marketing and administrative expense is $1.00 per unit. Which is 5,500 units x $1.00 = $5,500.
The budgeted fixed marketing and administrative expense is $101,200.
To get the cash disbursements for marketing and administrative expenses on the June marketing and administrative expense budget should be Variable costs plus fixed costs.
= $5,500 + $101,200
= $106, 700
Answer:
Trough
Explanation:
Trough economic situation is when the recession is hardest and comes after the phase of contraction where growth slows, employment declines (unemployment increases), and pricing pressures subside.
Trough is characterized by large number of people being unemployed due to extensive layoffs by companies in order to cut down their costs and reduce their output during the period of economic decline
<h3><u>Answer</u>;</h3>
A capital resource
<h3><u>Explanation</u>;</h3>
- Economic resources are the factors used in producing goods or providing services. That is, they are the inputs that are used to create things or help an individual to provide services.
- <em><u>Economic resources can be divided into human resources, such as labor and management, and nonhuman resources, such as land, capital goods, financial resources, and technology. There are four types, namely; capital, labor, land, and entrepreneurship.</u></em>
- <em><u>Capital resources are those resources that are used to manufacture other goods and services in future.</u></em>
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