Answer:
Explanation:
May 3
Dr merchandise inventory 27,000
Cr Cash 27,000
May 5
Dr Accounts receivable 19,500
Cr Sales 19,500
May 5
Dr COGS 13,500
Cr Merchandise inventory 13,500
May 7
Dr Sales returns and allowances 1,950
Cr Accounts receivable 1950
Dr Merchandise inventory 1350
Cr COGS 1350
May 8
Dr Sales returns and allowances 750
Cr Accounts receivable 750
May 15
Dr Cash 16464
Dr Sales discount 336
Cr Account receivable 16800
19500-1950-750 = 16800
16800*2% = 336
Answer:
accounts receivable processing
or
order department
Answer:
The above statement is false.
Explanation:
The most common legal structure of business are as follows:
Sole proprietor : It is a form of business in which a business is fully controlled by only one person. He takes all the decision himself . He has unlimited liability. His personal assets are used by the creditors to recover their money
Partnership: It is a form of business in which minimum 2 person come together to form a partnership firm. They share profit and loss as agreed between them. They have a partnership deed . Every partner have unlimited liability .
Limited liability Partnership : This form is recently introduced. This form come under the limited liability 2008. It has separate legal entity.
Corporation: A corporation has a independent legal entity, separate from its owners and has different tax calculation than other structure. The owner of the corporation has limited liability upto their share in corporation
S-Corporation: This business structure is more simple than corporation. It is more beneficial for small owners and also have some tax benefits. S Corporation can also cash accounting system rather than accural method of accounting.
Thus, the statement is false that the legal structure of business is only four.
Answer:I got transaction processing system
Explanation:
Apex
