Answer:
(a) DR Loss on disposal of asset $7,000 CR Land $7,000
The sales account is in error by $144.
<h3>
What is a credit to sales?</h3>
- Payments for credit sales are made several days or weeks after a product is delivered.
- Short-term credit arrangements are recorded as accounts receivable on a company's balance sheet, as opposed to cash payments.
- The sales credit journal entry is the journal entry recorded in the company's sales journal when the company sells inventory to a third party on credit.
- In this case, the debtor's or account receivable account is debited, and the sales account is credited.
To find the error:
- Given - A $16 credit to sales was posted as a $160 credit.
- So, 160 - 16 = $144.
Therefore, the sales account is in error by $144.
Know more about credit to sales here:
brainly.com/question/4068271
#SPJ4
Answer:
The answer is E-commerce
Explanation:
Nowadays, trade can occur anywhere, in the market or from the corner of your room.
The act of buying and selling goods and services through the internet is known as E-commerce. For example, Amazon. Amazon sells products through internet. Customers visit their website, search for what interests them and pay for it online through credit card or master card or might decide to pay on delivery of the product.
$45,000 would be your net worth
10% of 50,000 is 5,000 so subtract 5,000 from 50,000 and you get 45,000
to keep all things sorted :)
