Im not sure, sorry, I wish I could help
Answer:
The answer is: D) $34,300
Explanation:
The selling price was $35,000 with terms 2/10, n/30. This means that if the buyer pays their bill before the ten days period, they will get a 2% discount. If the buyer pays the bill after the ten days period but before thirty days, they will pay the full amount.
Since the buyer paid before the ten days period they will get a 2% discount. The total cash received by Banks Company was $35,000 x 98% = $34,300
Answer:
The answer is: B) In Boravia when the economy is strong, those who might otherwise go camping tend to take vacations overseas.
Explanation:
Usually a sustained economic growth would lead to an increase in the sales of high quality products. Hill and Dale sell high quality expensive products, so the only thing that could hurt their sales is that people don't go camping anymore. The only option that could lead to lower demand is that Boravia's economy is doing so well that its citizens can now afford to travel to other countries instead of camping.
Answer:
Debit Notes Receivable for $86,000; credit Cash $86,000
Explanation:
The journal entry to record the cash loan is given below;
Notes Receivable $86,000
To Cash $86,000
(Being cash loan is recorded)
Here the note receivable is debited as it increased the assets and credited the cash as it decreased the assets
Therefore the first option is correct
Bankruptcy is a filing meant for people who are unemployed. If you do not have any job or any source of income, possibility is that you always encounters bankruptcy or 0 balance. If you do not own a business but have any source of income, still you can survive.
