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lesantik [10]
3 years ago
15

Oliver furniture factors $800,000 of receivables to kwik factors, inc. Kwik factors assesses a 2% service charge on the amount o

f receivables sold. Oliver furniture factors its receivables regularly with kwik factors. What journal entry does oliver make when factoring these receivables?.
SAT
1 answer:
Usimov [2.4K]3 years ago
8 0

The journal entry that Oliver make when factoring these receivables is:

Debit Cash $784,000

Debit Service Charge Expense $16,000

Credit Accounts receivable $800,000

Oliver furniture journal entry

Debit Cash $784,000

[(100%-2%)×$800,000]

Debit Service Charge Expense $16,000

(2%×$800,000)

Credit Accounts receivable $800,000

(To record account receivables)

Inconclusion the journal entry that Oliver make when factoring these receivables is: Debit Cash $784,000; Debit Service Charge Expense $16,000; Credit Accounts receivable $800,000.

Learn more about account receivables here:brainly.com/question/24848903

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a parallelogram has two obtuse angles and two acute angles. if the measure of one of the obtuse angles is 110 degrees what is th
Y_Kistochka [10]

Answer:

70 degrees

Explanation:

answer 70 degrees

4 0
2 years ago
a ball is thrown straight downward with a speed of 0.80 meters per second. what is the speed of the ball 0.60 seconds after it i
san4es73 [151]

The speed of the ball 0.60 seconds after it is released is 6.8 m/s.

Newton's law of motion is given by:

v = u + gt

where v is the final velocity, u is the initial velocity, g is the acceleration due to gravity and t is the time.

Given that:

u = 0.8 m/s, g = 10 m/s², t = 0.6s. Hence:

v = 0.8 + 10(0.6)

v = 6.8 m/s

Therefore the speed of the ball 0.60 seconds after it is released is 6.8 m/s.

Find out more at: brainly.com/question/8648874

7 0
2 years ago
During an activity analysis, a human resources manager determined that an employee spent 1.7
drek231 [11]

Answer: 42.5 hours

Explanation:

Let the number of hours that the employee work be represented by x.

Since the employee spent 1.7 hours making work calls one week, which was 4% of the employee's total work hours for the week, this can be represented in an equation as:

4% × x = 1.7

4/100 × x = 1.7

0.04 × x = 1.7

0.04x = 1.7

x = 1.7 / 0.04

x = 42.5 hours

The employee worked for 42.5 hours

4 0
3 years ago
Plz help!!!!!!!!!!!!!!!!
nekit [7.7K]

C

im not sure how to explain how i got it though..... sorry

3 0
3 years ago
Read 2 more answers
differentiate between a university and a Tvet college in terms of what each offers and explain the stigma associated with Tvet c
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A university is a 4 year degree that you major in a certain subject to get a Bachelor’s degree. Most people would say, I have a college degree after going to a university. It is thought to be more prestigious to have a degree from a university.
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3 years ago
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