Answer:
October 5 entries
Debit Accounts receivable $6,650
Credit Sales Revenue $6,650
To record sales
Debit Cost of goods sold $3,010
Credit Inventory $3,010
To record the cost of sales
October 8 entries
Debit Sales return $840
Credit Accounts receivable $840
To record sales reversal due to sales return
Debit Inventory $430
Credit Cost of goods sold $430
Explanation:
The perpetual inventory system is the one that ensures that the book balance for inventory is adjusted for every purchase, sale or return of inventory.
When inventory is sold on account, the entries required are debit accounts receivable and credit revenue then Debit cost of goods sold and credit inventory.
Answer:
real GDP per capita
Explanation:
Real GDP per capital relates to the calculation of a nation's gross productive capacity, regardless of the quantity of inhabitants and accounting for inflation. This will be used to evaluate living conditions between nations but over time.
This is used by the economists majorly, all over the world, to calculate the economic growth as this is the variable which closely depicts the true picture of the economy and whether or how much the growth is enjoyed by the individuals in the economy.
The accounts that affect equity are revenues, common stock, expense, and dividends.
The following information should be relevant for the equity:
- If there is an increase in revenue so the equity is also increased.
- If there is an increase in the common stock so the equity is also increased.
- If the expense is increased so it decreased the equity.
- If the dividend is paid so the equity is decreased
In this way, the equity account is affected.
Learn more about the equity here: brainly.com/question/3841249
Answer:
The correct answer is option c.
Explanation:
The increase in net exports indicates means there is a surplus in trade. An increase in net exports will lead to a rightward shift in the aggregate demand curve, further causing an increase in output level.
In order to stabilize the output level, the government can reduce the money supply, this will lead to a decline in the amount of money held by people. The supply of loan-able funds will be reduced as well, leading to an increase in the interest rate. As the interest rate rises, borrowing will become expensive so the firms will not get motivated to increase output.