Answer:
Yes
Explanation:
Seeling a product at below cost means that a company sells a product with a price that is lower than its manufacturing cost and in certain situations it makes business sense to do it when customers buy the product and then, will need to buy accesories or complimentary products over time which will allow to make profit from the other products.
Answer:
c. Debit: Discount on notes payable, $41,884.
Explanation:
The journal entry is shown below:
Equipment $883,116
Discount on Notes payable $41,884 ($740,000 - $698,116)
To Notes payable $740,000
To Cash $185,000
(Being the amount paid in cash and note payable is recorded)
Working note
= Note payable amount × PVF factor at 6% for one year
= $740,000 × 0.94340
= $698,116
For recording this we debited the equipment as it increased the assets and discount is always debited while the note payable and cash is credited as it increased the liabilities and reduced the assets
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D.V (dependent variable): plant height
Constants:type of plant, same type of soil, same amount of water and sunlight.
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