Maxie's Game World sold games to a customer on credit for $2,600, terms 1/10, n/30 and the cost of the games was $1,700. When recording the collection from the customer made withi n the discount period, in its cash receipts jounal, Maxie's would enter: A) S2,574 in the Cash Dr. column, $26 in the Sales Discount Dr. column and $2,600 in the Accounts Receivable Cr.column. B) $2,600 in the Cash Dr. column. $2,600 in the Sales Cr. column, and $1,700 in the Cost of Goods Sold Dr/Inventory Cr.column. C) $2,600 in the Cash Dr. column and $2,600 in the Accounts Receivable Cr.column. D) $2,600 in the Accounts Receivable Dr/Sales Cr. column and $2,600 in the Cash Cr. column E) $2,574 in the Cash Dr. column and $2,574 in the Accounts Receivable Cr.column.

Answers

Answer 1

Answer:

A) S2,574 in the Cash Dr. column, $26 in the Sales Discount Dr. column and $2,600 in the Accounts Receivable Cr.column.

Explanation:

In the case when we have to record the collection from the customer within the discount period so the following journal entry should be made

Cash  Dr $2,574

Sales discount Dr $26 (1% of $2,600)

        To Account receivable $2,600

(Being collection is recorded)

Here the cash and sales discount is debited as it increased the assets and it reduced the sales on the other hand the account receivable is credited as it decreased the assets


Related Questions

Globalization includes all of the following except
O an integrated global economy
O free flow of capital
O free trade
O limits on global expansion

Answers

Answer:

d. limits on global expansion

Explanation:

;p

Answer:

limits on global expansion

Explanation:

got it right on edge 2023 business law!!

Adaptability in leadership styles, depending on the task and team you are working with, is known as the:

Answers

Answer:

Transactional leadership

Explanation:

The transactional leadership may be defined as that type of leadership which focuses on the role of the organization, supervision or the even on the group performance. The leaders who follows this type of leadership style mainly focuses on the special tasks and uses the rewards and the punishments to motivate their followers.

They are also known as managerial leadership. They depend on the task and the team they are working with.

What is the Racial Wealth Gap?

Answers

Explanation:

the racial wealth gap in the United States is the disparity in median wealth between the different races . This gap is most pronounced between whitehouseholds and racia minorities

HELP PLZ! The price index for a certain item is at 4% inflation rate. How long will it take for the price to double?

Answers

Answer:

Time taken to double the price is 17.5 years

Explanation:

As per the rule of seventy,

Time taken for a  CPI to get double is 70 divided by the rate of inflation

Substituting the given values, we get -

Time taken to double the price is 70/4 = 17.5 years

An entity enters into a contract with a customer to sell products X, Y, and Z in exchange for $250,000. Control over the products will be transferred to the customer at different points in time. The entity determines that the delivery of each product is a distinct performance obligation. Products X and Y are regularly sold separately and their standalone selling prices of $40,000 and $120,000, respectively, are directly observable. The standalone selling price of product Z of $160,000 was estimated using the adjusted market assessment approach. The entity determined that the discount provided to the customer does not relate to one or more specific products in the contract. What revenue will be recognized by the entity on the sale of product X

Answers

Answer:

B. $31,250

Explanation:

The computation of the revenue that should be recognized by the entity on the sale of product X is shown below;

Here the transaction price should be distributed to the performance obligations.

The sum of the standalone selling price is

= $40,000 + $120,000 + $160,000

= $320,000

And, the standalone selling price is $40,000

Now the revenue that should be recognized is

= $40,000 ÷ $320,000 × $250,000

= $31,250

Brainliest-
How any two stakeholders affect the quality of toyota's products?​

Answers

Answer:

The company's brand value, human resource skills, and financial soundness are all influenced by these stakeholders. It affects toyota's quality products to be either better or worse.

You and your design group are competing for a multidisciplinary concept project. Your firm is the lead group in the design professional consortium formed to compete for the project. Your consortium has been selected to be the first to enter fee negotiations with the project owner. During negotiations, the amount you have to cut from your fee to be awarded the contract will require dropping one of the consortium members whose staff has special capabilities not found in the staff of the remaining consortium members. Is your consortium response in the negotiations ethical

Answers

Answer: No, not if the owner is left with the impression that the consortium is still fully qualified to perform all the required tasks

Explanation:

The purpose of a team is to work together, when the lead person is not involved the team may not be able to coordinate themselves to carry on with the task. Considering the project, dropping one of the consortium member with the best skill would be a turn off for the deal. For the team to do well, they need each other, especially the lead or most skillful, not including this in the deal is a loss already

When formatting your resume, it is important to ____
a. Order the content logically
b. Make the overall design appealing
c. Ensure the grammar and spelling is flawless
d. All of the above

Answers

All of the above When formatting your resume, it is important to do all

You are a network administrator for your company. A user calls and tells you that after stepping on the network cable in her office, that she can no longer access the network.

You go tot he office and see that one of the user's stiletto heels has broken and exposed some of the wires in the Cat 5 network cable. You make another cable and attach it from the wall plate to the user's computer.

What should you do next in your troubleshooting strategy?

- Establish what has changed.

- Recognize the potential effects of the solution.

- Document the solution.

- Test the solution.

Answers

Answer: Test the solution

Explanation:

Since the user called and said that she can no longer access the network after she steeped on the network cable, and another cable was made and attached from the wall plate to the user's computer, the next thing that should be done is to test the solution.

The solution should be tested in order to be sure that the solution that was provided worked. After this has been done, then documenting he solution and recognizing the effects can be done.

The US Senate has approved approximately how many treaties?
O 2.500
O 1,500
O 2,000
O 1.000

Answers

Answer:

2500

Explanation:

The United States Senate has approved approximately 2500 treaties. This assertion is based on the statistics that fifty years after the United States independence, the US Senate has only approved 60 treaties. By the period World War II began in 1939, the US Senate has approved another 800 treaties. Also, between 1940 to 1989, the United States Senate has approved an additional 759 treaties. And between 1989 to this moment, the United States Senate has reportedly approved 890 treaties.

Hence, summing all of them together, we have 60 plus 800, plus 759, plus 890, making it 2509 treaties. That is approximately 2500 treaties.

Answer:

B. 1,500

Explanation:

It’s on the passage

What was the opening price of Dow Jones Industrial Average on Jul 09, 2018 in the format of XXXXX.XX?

Answers

Answer:

According to yahoo finance, the opening price of the Dow Jones Industrial Average on Jul 09, 2018, is 24519.20.

Explanation:

Dow Jones Industrial Average is a stock indicator of the top 30 companies of the US. Other indicators include NASDAQ Composite and S&P 500.

These indicators are used to assess the performance of the market on a subsequent day. From the historical data from the Yahoo Finance, the value for any day could be found which for July 09, 2018 is 24519.20.

Managers are accountable to some stakeholders whose interests they represent. These

stakeholders are:

Customers

Employees

Owners

Shareholders

Society

Government


1. Conduct a research to explain how is management responsible to EACH of these stakeholders. [18 marks]


pls help me

Answers

Answer:

see explanation

Explanation:

Stakeholder is anyone interest in the operation of a company or affected by the decision of the company.

Each stakeholder has its own interest and this is listed below :

Customers

They expect to receive value for money out of the firm products or services.

Employees

They are looking up to management for better remuneration for their manpower.

Owners

They seeking a maximum return from their investment in the company. Management run the company on their behalf as stewards.

Shareholders

They also seek maximum return from their investment in the company.

Society

The community expects the company to be a good corporate citizen and improve the social factors of employment, sustainability and environmental issues

Government

The government expects the company to be tax compliant and to pay its dues on time.

In a cost reimbursable contract, _____. the contract usually details the quality of the goods or services, the timing needed to support the project, and the cost of delivering goods or service the organization agrees to pay the contractor for the cost of performing the service or providing the goods plus a profit the contract provides an incentive for performing on the project above the established baseline in the contract the contractor assumes the risks for unexpected increases in labor and materials that are needed to provide the service or materials and in the quantity of time and materials needed developing a clear scope of work, creating a list of highly qualified bidders, and developing a clear contract is critical

Answers

Answer:

the organization agrees to pay the contractor for the cost of performing the service or providing the goods plus a profit.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, cost reimbursable contract, etc.

In a cost reimbursable contract, the organization, which is the client agrees to pay the contractor for the cost of performing the service or providing the goods plus a profit.

This ultimately implies that, a client such as a business organization that enters into a cost reimbursable contract with another party such as a contractor, agrees to pay the contractor an agreed amount of money upon the completion or execution of the contract.

help plz!!
Economists make economic predictions using:
A) educated guesses based solely on their opinion.
B) data about the economy from the past.
C) information only about other nations.
D) data about how outside economies allocate their resources.
Thanks!!

Answers

Answer:

[tex]hi \: james[/tex]

The answer is :

B) data about the economy from the past.

I hope it helps

have a nice day

#Captainpower

The answer to this question is B) data about the economy from the past

PLS ANSWER

The unit discusses the word ‘holistic’ in relation to childbirth. Can you think of any other areas of health and wellness that might have holistic approaches? Why might someone want to try a holistic approach?

Answers

Answer:

The word Holistic means to realize and observes any social behaviors in patients and how they see themselves, along with the treatment they may need. A holistic approach may be needed in a situation where a patient needs both mental and physical treatment.

Explanation:

This was just my answer for the assignment. Please rephrase and reword it if you are going to use it.

Hope this helps!

Lev Knossos sells high tech equipment and software to companies in Greece. When he first started selling to Greek businesses, he was told that the Greek market lagged behind others in the use of technology. After conducting research, Knossos visited the Commercial Bank of Greece and explained how his products could create Web pages for the bank and facilitate banking transactions. By applying his product knowledge to solve a technology issue that he identified, Knossos took the role of: Tactical partner. Creative problem solver. Low-involvement decision maker. Transactional partner. Exchange creator.

Answers

Answer: Creative problem solver

Explanation:

Creative problem-solving refers to the process of finding a solution to a problem that doesn't have a solution before. It is an previously unknown and an original solution to a problem.

Creative problem solving is when an individual gets creative in order to develop new ideas and therefore get the solutions to the problems encountered.

Since Knossos visited the bank and explained how his products could give the bank solution to help facilitate banking transactions, he's a creative problem solver.

The _____ is the most important factor to consider when selecting a credit card if you do not pay the balance on your credit card every month.

annual fee
over-the-limit fee
APR
late fee

Answers

Answer:

APR

Explanation:

If you dont pay off the balance each month, you are most concerned with the interest rate charged (apr)

Answer:

APR

Explanation:

The APR is the most important factor to consider when selecting a credit card if you do not pay the balance on your credit card every month.

The expectation of a future devaluation of a fixed exchange rate will lead to Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a a sharp rise in reserves and a rise in the domestic interest rate above the world interest rate. b a sharp fall in reserves and an unchanged domestic interest rate. c a sharp fall in reserves and a rise in the domestic interest rate above the world interest rate. d a sharp rise in reserves and a fall in the domestic interest rate below the world interest rate.

Answers

Answer:

c a sharp fall in reserves and a rise in the domestic interest rate above the world interest rate.

Explanation:

A devaluation of fixed foreign exchange rate of a country will make the local currency cheaper compared to other currencies.

This implies that other countries will benefit more from buying the countries goods which are now cheaper (exports).

Imports will be more expensive as foreign currencies will have higher value.

Inflation results in this situation leading to increased interest rates aimed at curbing the fall of price of goods.

In order to maintain a level of stability in the economy also the reserves of the country will be used to stabilise the local currency. So reserves will fall.

outline four duties of an office messenger​

Answers

Answer:

The duties of an office messenger are summarized throughout the below segment.

Explanation:

His tasks predominantly include the passage as well as the collection of documents across units of the company or an organization.Any basic everyday tasks may be requested to encourage and support him in the file, make copies, and print documentation.Throughout the lower socio-economic frame seems to be in a position he has to be professional as well as respectful.

The____represents more than. 380,000 retail and institutional food service operation, including restaurants, suppliers, educators, and non-profits.​

Answers

National Restaurant Association
Other Questions
How did scientists figure out how old the rocks in the Mid-Atlantic Ridge are? A. Radiometric datingB. Taking photographsC. Watching it growD. Asking other people #4 - Which phrase from the speech best shows the audience what Barack Obama believes is great about America? O A- we are called to reaffirm our values and our commitments O B - We gather to affirm the greatness of our nation O C - People don't expect the government to solve all their problems D - They know they have to work hard to get ahead List three strategies for answering questions that you don't know anythingabout?Help, please I'll give brainless no links in your own words, why do you think the mining transitioned from underground tunnels to an open pit How many meters are equal to 4,581 centimeters? Use how the placement of the decimal point changes when dividing by a power of 10 to help you. Game Theory and Strategic Choices -- End of Chapter Problem You have developed a new computer operating system and are considering whether you should enter the market and compete with Microsoft. Microsoft has the option of offering their operating system for a high price or a low price. Once Microsoft selects a price, you will decide whether you want to enter the market or not enter the market. If Microsoft charges a high price and you enter, Microsoft will earn $30 million and you will earn $10 million. If Microsoft charges a high price and you do not enter, Microsoft will earn $60 million and you will earn $0. If Microsoft charges a low price and you enter, Microsoft will earn $20 million and you will lose $5 million. If Microsoft charges a low price and you do not enter, Microsoft will earn $50 million and you will earn $0. Construct a payoff table and find the Nash equilibrium if you and Microsoft both make your decisions simultaneously. In a simultaneous move game, Microsoft will and you will:___________ which is the smallest integers, please answer, -9, 0, -2, -4, -11 I need help please. I need the the discount and selling price. Thank you What would be the perimeter?? Write a paragraph that states and defends a claim about which object from A History of the World in 100 Objects is the most historically significant. Choose one of the following objects: the Benin plaques, The Great Wave, the Sudanese slit drum, or the suffragette-defaced penny. Help HELP HELP HELP PLS!!! What is the important organelle that eukaryotic cells have and prokayotic cells don't have? This is due at 11:59 tonight please help meh and explain your reasoning ( - ) solve for the x value of the x intercept of the line 5x-y=-5 What is the area of the rectangle please help no links Really need help on number 2 dont know where to place it (WILL MARK BRANLIEST) One of the legs of a right triangle measures 2 cm and its hypotenuse measures 19 cm.Find the measure of the other leg, If necessary, round to the nearest tenth. In which sentence is the direct quote punctuated correctly?Original sentence from source: These ocean-dwelling mammals will grow to be the largest animals alive today.Blue whales are the largest animals alive today.Blue whales are the largest animals, alive today.Blue whales, the largest animals, alive today.Blue whales are the largest animals alive today. What are the hindu life cycles?