Answer: B. Debit to Tuition Discounts and Allowances, $12,000.
Explanation:
A scholarship is considered a discount so should be recorded as one. When recording a discount, it is debited to its own account which in this case will be the Tuition Discounts and Allowances account.
The full entries are,
DR Cash (50,000 - 12,000) $38,000
DR Tuition Discounts and Allowances $12,000
CR Tuition and Fees $50,000
Answer:
The answer is A. Management has properly recorded the transaction.
Explanation:
According to the given data Since the note is non interest bearing, no interest will be paid on the bond.
Therefore, asset will be debited and note payable will be credited by the full amount.
Therefore, the Management has properly recorded the transaction.
The joural entry would be as follows:
Debit Credit
asset $100,000
note payable $100,000
A for-profit institution that works with the general public to open and manage savings accounts is known as a(n) savings bank.
Answer: C. savings bank
Answer:The file manager is a user (blank).
(blank) is an example of a file manager in Microsoft Windows
Explanation:
