The journal entry would be to debit the Sales allowance account and credit the merchandise account. This is because the sales allowance is an expense for the merchandiser so it will be debited and the person he is selling the merchandise to will be credited as the rule states to credit the receiver. These rules will be according to the golden rules of accounts.
So the journal entry will be Sales allowance a/c Dr.
To Merchandise a/c.
A perpetual inventory system is a computerized system to record inventory immediately. It is an automatic system and happens at the point of sale. By this method, the seller is able to keep aware of his inventory information immediately. This system uses computerized point-of-sale systems and enterprise asset management software.
This type of perpetual inventory system is usually used by grocers to keep an account of their goods. This makes their work much more efficient and easy.
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Answer: 1st to make a good business you have to start off small. For starters start doing a Lemonade Stand. If people like your Lemonade i'm sure they'll promote you by telling there friends. Then your business will get bigger and bigger until you have like a whole company.
Wyatt's<u> effective interest rate</u> would be greater than his <u>nominal interest rate </u>by 0. 71 percentage points.
The <em>nominal interest rate</em> is 13. 62% or 0.1362 that would be given an <em>effective rate of interest </em>as follows:
Here, the value of the effective rate of interest<u>,</u> that is 0.1433 that would be multiplied with 100 to get the <u>percentage value</u> of 14.33%
Hence, the <u>difference between effective and nominal interest rates</u> would be:
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