Answer: Debit Accounts receivable for $600.
Explanation:
The customer had not been billed so that means that they still owe the company. This would make them an accounts receivable so the adjusting entry will have to debit the Accounts Receivable account for $600 to show that it is increasing.
This amount will be credited to the Accrued revenue account to show that the cash has not yet been received.
Answer:
The answer is given below;
Explanation:
a. Bad Debt Expense Dr.$800
Account Receivable Cr.$800
b. $84,000*11%= $9,240
Credit balance in trail balance ($1,450)
Total $7,790
Bad Debt Expense Dr.$7,790
Account Receivable Cr.$7,790
C. Debit Balance $400
84,000*9%= $7,560
Total $7,960
Bad Debt Expense Dr.$7,960
Account Receivable Cr.$7,960
If youre attending school atleast half time you have nine months after youre graduate leave school or drop below half time status before you must begin repayment if you are attending less than half time check to find out how long youre grace period will be
Answer:
The answer is $1.55
Explanation:
From the question above, we have the following:
Money spent by customer = $65
Transaction fee = $0.25
Percentage charge = 2% of the total charge
We calculate the total transaction fee as follows:
2% of $65 will be = 0.02 X $65
=> $1.3
Recall that there is a transaction fee = $0.25.
Therefore, total transaction fee:
$1.3 + $0.25
=> $1.55
Answer:
10%
25.14 years
Explanation:
A financial calculator can be used to solve these problems
PMT = $-1,100
PV = $5,355.26
FV = 0
N = 7
Compute I = 10%
PMT = $-25,000
FV = $1,387,311
I = 6%
PV = 0
Compute N = 25.14 years
