<u>Solution and Explanation:</u>
The following formulas will be used in order to calculate the accounts receivable turnover ratio and in order to find out the number of days collect.
Accounts receivable turnover ratio = Net sales divided by Average net Accounts receivable
![=\$ 50,370 /[(\$ 7,250+\$ 5,720) / 2]](https://tex.z-dn.net/?f=%3D%5C%24%2050%2C370%20%2F%5B%28%5C%24%207%2C250%2B%5C%24%205%2C720%29%20%2F%202%5D)
= 7.77 times
<u>Days to collect</u> = 365 divided by Accounts receivable turnover ratio
= $365 divided by 7.77
= 47 days
<u>Note</u>: The number of days that has been assumed is 365 days
The third function explains that money is a medium of exchange. It means that it is better to use the money used in the country itself to gain better service because it would provide better protection. Costumers would be more satisfied if the business would accept the money they have and it would be safer and mutually good for both if the customer would transact using the currency country's currency.
Source: https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-9-functions-of-money
Answer:
It means exchange for good or service without using any money
Answer:
See explanation section
Explanation:
1. Debit Cash $17,000
Credit Service revenue (music) $17,000
<em>Note: The academy receives cash by providing music services to the students.</em>
2. Debit Prepaid Insurance $4,200
Credit Cash $4,200
<em>Note: The academy paid cash in advance to purchase insurance policy.</em>
3. Debit Musical Equipment $20,000
Credit Cash $20,000
<em>Note: The academy paid cash for acquiring musical equipment.</em>
4. Debit Cash $30,000
Credit Notes payable $30,000
<em>Note: The academy borrowed cash by signing a notes from the bank.</em>
As observed by robert e. kelley, Substitutes for leadershipis an essential quality of effective followers.
<h3>What is
leadershipis ?</h3>
The ability of a person, group, or organization to "lead," influence, or direct other people, groups, or entire organizations is referred to as leadership, both as a field of study and as a practical talent. The term "leadership" is frequently seen as a contentious one. The subject is debated in specialized literature from numerous points of view, occasionally contrasting Eastern and Western leadership styles as well as (within the West) North American versus European styles.
Leadership is described as "a process of social influence where a person can enlist the aid and support of others in the fulfillment of a common and ethical task" in U.S. academic institutions.
To learn more about leadershipis from the given link:
brainly.com/question/26909351
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