Using the following information, compute the direct materials used. Raw materials inventory, January 1 $ 20000 Raw materials inventory, December 31 40000 Work in process, January 1 18000 Work in process, December 31 12000 Finished goods, January 1 40000 Finished goods, December 31 32000 Raw materials purchases 1800000 Direct labor 760000 Factory utilities 150000 Indirect labor 50000 Factory depreciation 400000 Operating expenses 420000

Based on the scores web page of the SAT exams, the range for the section scores and the total score according to the "Scores" web page is 400–1600.

SAT exam is a standardized test widely carried out for college admissions in the United States.

Following its inception in 1926, the SAT name and scoring have changed several times; it was initially called the Scholastic Aptitude Test, and then later changed to the Scholastic Assessment Test, then the SAT I: Reasoning Test, then the SAT Reasoning Test, then simply the SAT.

SAT exams are known for their difficulty, especially the Mathematical sections. Generally, it is believed that mathematics is more difficult as people tend to score lower marks compared to the verbal sections.

Also, the total score is the sum of the two section scores which ranges between 400 - 1600.

Hence, in this case, it is concluded that the correct answer is 400 - 1600

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Answer:

3

Explanation:

You manage the worksheet shown below and it contains information for the company's 1500 employees. You are asked to provide a list of all of the employees who are full time and make more than $45,000 per year.

The best way for you to create the list of those who make more than $45000 a year and are full time is by using the filter option.

The filter option would be used to highlight the people that are in full employment. After this you have to use the sort to check the compensation column in order to establish those that make more than 45000.

The filter in a spreadsheet helps to put data in a particular category then arrange them based on the criteria that you selected.

The sorting method helps to arrange data based on ascending order or descending order.

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Based on the information given Tefft's inventory conversion period is:

c.115 days.

Using this formula

Inventory Conversion Period=Average Inventory÷(Cost of Sales÷365 days)

Let plug in the formula

Inventory Conversion Period=$170,000 ÷ ($540,000÷365)

Inventory Conversion Period=$170,000 ÷  (1479.45205479)

Inventory Conversion Period=114.907407408

Inventory Conversion Period=115 days(Approximately)

Inconclusion Tefft's inventory conversion period is:  c.115 days.

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Answer:

If the wage/rental ratio in Japanese auto production is lower than the wagerental ratio in U.S. auto production, then:

the labor wage cost when compared with another factor of production (capital or land) in Japan is lower than it is in the U.S.  This implies that Japan, which has labor in abundance compared to the scarcity  of labor in US, should continue auto production with labor, which is in abundance instead of using capital or another production factor, which is scarce and costly.

Explanation:

The Heckscher-Ohlin model proposed an economic model which encourages "countries to export what they can most efficiently and plentifully produce."  

Thus, the model emphasizes the export of goods requiring factors of production that a country has in abundance.  According to the Heckscher-Ohlin model, the wage/rental ratio, is computed with a comparison of the wage of labor to the rental price of either capital or land.

The division of profits in a partnership happens based on a ratio that the partners agree to which is usually based on capital contribution.

In partnerships, the profit is divided according to a certain ratio that the partners would have agreed to in writing when they joined the partnership.

This ratio would often be based on the amount of capital that each partner brought to the firm. For instance, if Partner X gets 60% of the profits and Partner Y gets 40%, it most likely means that Partner X put up 60% of the capital.

Question is:

How are profits divided in a partnership?

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For the speculative firm Block 'n TILE, the four essential expense bends they will encounter are Marginal Cost (MC) Curve, Average Total Cost (ATC) Curve, Average Variable Cost (AVC) Curve, and Average Fixed Cost (AFC) Curve.

Marginal Cost (MC) Curve:

The Marginal Cost (MC) Curve: addresses the extra expense brought about by creating another unit of result.

Average Total Cost (ATC) Curve:

The Average Total Cost (ATC) Curve shows the typical expense per unit of result.

Average Variable Cost (AVC) Curve:

The Average Variable Cost (AVC) Curve addresses the variable expense per unit of result.

Average Fixed Cost (AFC) Curve:

The Average Fixed Cost (AFC) Curve addresses the proper expense per unit of result.

These expense bends assist firms with enjoying Block 'n TILE figure out the connection between the degree of creation and the related expenses. They are essential for pursuing creation choices, setting costs, and deciding the company's benefit.

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The four cost curves are displayed in the accompanying graph-

The creditor is required to give Kate the name of the credit bureau that supplied the report under the Fair Credit Reporting Act (FCRA). The FCRA is a federal law that regulates the collection, use, and disclosure of consumer credit information. Under the FCRA, creditors are required to provide consumers with a copy of their credit report upon request. They are also required to provide consumers with the name and address of each credit bureau that has provided them with a report within the past two years.

The other laws you mentioned are also important, but they do not specifically address the issue of providing consumers with the name of the credit bureau that supplied their report. The Fair Credit Billing Act (FCBA) regulates the billing practices of creditors and credit card companies. The Truth in Lending Law (TILA) requires lenders to disclose certain information to borrowers, such as the annual percentage rate (APR) and the total amount of interest that will be charged on a loan. The Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, age, or because they receive income from a public assistance program.

Managers want larger budgets; entrepreneurs work to do more with less.

Entrepreneurs have a distinct mindset when it comes to resources compared to employee-managers. While managers often seek larger budgets to accomplish their goals, entrepreneurs tend to focus on doing more with less.

This difference in perspective stems from the inherent nature of entrepreneurship which involves taking calculated risks and maximizing efficiency in resource allocation.

Entrepreneurs understand that resources, such as capital, time, and manpower, are limited and valuable. They recognize that acquiring substantial budgets may not always be feasible, especially in the early stages of a venture.

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Answer:

NPV: $84,659.21

Payback Period: less than 1 year

IRR: 32.17%

Explanation:

To calculate the payback period, we need to find out how long it will take to recover the initial investment of $120,000. We will do this by calculating the annual cash flows until the initial investment is fully recovered.

First, let's calculate the annual cash flows for each year:

Year 0:

-Initial investment: -$120,000

Year 1:

-Sales: $835,000

-Variable costs: $167,000 (20% of sales)

-Fixed costs: $204,000

-Depreciation: $216,250 ($865,000 / 4 years)

-EBT (Earnings before taxes): $247,750 ($835,000 - $167,000 - $204,000 - $216,250)

-Taxes: $56,972 (23% of $247,750)

-Net Income: $190,778 ($247,750 - $56,972)

-Annual Cash Flow: $311,028 ($190,778 + $120,000)

Year 2:

-Sales: $835,000

-Variable costs: $167,000

-Fixed costs: $204,000

-Depreciation: $216,250

-EBT: $247,750

-Taxes: $56,972

-Net Income: $190,778

-Annual Cash Flow: $311,028

Year 3:

-Sales: $835,000

-Variable costs: $167,000

-Fixed costs: $204,000

-Depreciation: $216,250

-EBT: $247,750

-Taxes: $56,972

-Net Income: $190,778

-Annual Cash Flow: $311,028

Year 4:

-Sales: $835,000

-Variable costs: $167,000

-Fixed costs: $204,000

-Depreciation: $216,250

-EBT: $247,750

-Taxes: $56,972

-Net Income: $190,778

-Annual Cash Flow: $311,028

The total cash inflow for the four years is $1,244,112 ($311,028 x 4 years). The payback period is the time it takes to recover the initial investment, which in this case is less than one year (around 0.39 years). Therefore, the payback period for this project is less than one year.

To calculate the NPV, we need to discount the annual cash flows to their present value using the required rate of return of 13%. The formula for NPV is:

NPV = -Initial Investment + (CF1 / (1+r)^1) + (CF2 / (1+r)^2) + ... + (CFn / (1+r)^n)

where CF is the annual cash flow, r is the required rate of return, and n is the number of years.

Substituting the values, we get:

NPV = -$120,000 + ($311,028 / 1.13^1) + ($311,028 / 1.13^2) + ($311,028 / 1.13^3) + ($311,028 / 1.13^4)

NPV = $84,659.21

Therefore, the NPV of the project is $84,659.21.

To calculate the IRR, we need to find the discount rate that makes the NPV equal to zero. We can do this using trial and error or by using the IRR function in Excel. Using Excel, we can calculate the IRR as 32.17%.

With an NPV of $304,883.82 and an IRR of around 19.47%, the Potato Pet project has a payback period of roughly 2.75 years. These findings imply that Pappy's Potato should take the project into consideration as it is anticipated to provide a profit.

The payback method calculates the amount of time needed to "payback" or repay the initial expenditure. The time it takes for an investment to create enough cash revenues to cover its associated financial outflow(s), usually expressed in years, is known as the payback period.

To calculate the payback period, we need to determine how long it will take for the project to generate enough cash inflows to recover the initial investment of $985,000 ($120,000 + $865,000).

we need to calculate the annual cash inflows:

Annual sales revenue = $835,000

Variable costs = 20% of sales = $167,000

Fixed costs = $204,000

Operating income before depreciation and taxes = $464,000 ($835,000 - $167,000 - $204,000)

Depreciation = $865,000 / 4 = $216,250

Taxable income = $247,750 ($464,000 - $216,250)

Taxes = $56,983 ($247,750 x 0.23)

Net income = $190,767 ($247,750 - $56,983)

Annual cash inflows = Net income + Depreciation = $407,017 ($190,767 + $216,250)

Now, we can calculate the payback period:

Year 1 cash inflows = $407,017

Cumulative cash inflows after Year 1 = $407,017

Year 2 cash inflows = $407,017

Cumulative cash inflows after Year 2 = $814,154

Year 3 cash inflows = $407,017

Cumulative cash inflows after Year 3 = $1,221,231

Year 4 cash inflows = $407,017

Cumulative cash inflows after Year 4 = $1,628,308

The payback period is between Year 3 and Year 4, as the cumulative cash inflows exceed the initial investment of $985,000 in Year 3 and total $1,221,231. The payback period is approximately 2.75 years (or 2 years and 9 months).

To calculate the NPV, we need to discount the annual cash inflows at the required rate of return of 13%.

Year 1 PV factor = 1 / (1 + 0.13)^1 = 0.885

Year 2 PV factor = 1 / (1 + 0.13)^2 = 0.783

Year 3 PV factor = 1 / (1 + 0.13)^3 = 0.693

Year 4 PV factor = 1 / (1 + 0.13)^4 = 0.613

NPV = ($407,017 x 0.885) + ($407,017 x 0.783) + ($407,017 x 0.693) + ($407,017 x 0.613) - $985,000

NPV = $304,883.82

The NPV is positive, which indicates that the project is expected to generate a return that exceeds the required return of 13%.

To calculate the IRR, we need to find the discount rate that results in an NPV of zero. We can use a financial calculator or Excel to do this. The IRR for this project is approximately 19.47%.

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A management control system gathers information used to evaluate the performance of:

A management control system is a management technique that evaluates the achievement of performance goals in terms of:

Thus, a management control system gathers information used to evaluate the performance of human, physical, financial, and other organizational resources.

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A.Price Elasticity of Demand is 1.

B.In other words, the increase or decrease in the quantity demanded is directly proportional to the change in price.

To calculate the price elasticity of demand, we can use the formula:

Price Elasticity of Demand = Percentage Change in Quantity Demanded / Percentage Change in Price

A. Calculating the percentage change in quantity demanded:

Change in Quantity Demanded = 4000 - 2000 = 2000

Average Quantity Demanded = (4000 + 2000) / 2 = 3000

Percentage Change in Quantity Demanded = (Change in Quantity Demanded / Average Quantity Demanded) * 100

                                = (2000 / 3000) * 100

                                ≈ 66.67%

Next, let's calculate the percentage change in price:

Change in Price = 400 - 200 = 200

Average Price = (400 + 200) / 2 = 300

Percentage Change in Price = (Change in Price / Average Price) * 100

                         = (200 / 300) * 100

                         ≈ 66.67%

Now, we can calculate the price elasticity of demand:

Price Elasticity of Demand = Percentage Change in Quantity Demanded / Percentage Change in Price

                         = 66.67% / 66.67%

                         = 1

B. Since the price elasticity of demand is equal to 1, it indicates unitary price elasticity of demand. This means  In other words, the increase or decrease in the quantity demanded is directly proportional to the change in price.

This suggests that consumers are highly responsive to price changes, and a small increase or decrease in price can lead to an equivalent change in the number of tickets sold.

that the demand for tickets is perfectly elastic within this price range.

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An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.

The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.

An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.

The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.

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Answer:

50,000

Explanation:

i hope it helped ya <3

The yearly return of the investor is given to be 11.069%

In order to do this we have to make use of the Rate function in excel

This would be given as

=RATE(nper, PMT, PV, FV)

where Nper is 5 years

PMT is = $1,000*10% = $100

PV = $980

The future value Fv is given as $1,000

Hnece we would have to type in excel

RATE(5,100,-980,1000)

This would give us the value of the YTM as 10.5348%

Next would be to find the rate of return of this investor. This would be the rate that he actually earned.

We would also use the rate function

=RATE(nper, PMT, PV, FV

Npe = 4 years

PMT = $1,000*10% = $100

PV = $980

FV = $1,020 that is the amount for which the bond was sold

=RATE(4,100,-980,1020)

The solution would be = 11.0698%

Thus we can say that the return earned on investment is 11.0698%

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Technical efficiency refers to the ability to produce the maximum output from a given set of inputs or resources. It focuses on the production process and achieving the highest output level with the least amount of resources wasted. Technical efficiency emphasizes optimizing the production process to minimize costs and maximize productivity.

Allocative efficiency, on the other hand, relates to the allocation of resources in a way that maximizes overall social welfare. It refers to the ideal allocation of resources that matches consumers' preferences and demands. Allocative efficiency ensures that resources are allocated so that goods and services align with consumer preferences. This results in the best outcome for society.

When comparing an ideal market structure with a monopoly in terms of efficiency, there are significant differences. In an ideal market structure, characterized by complete competition, both technical and allocative efficiency is typically achieved. Many buyers and sellers exist, information is freely available, and no single entity controls the market. Competition drives firms to produce at the lowest cost and offer goods and services that match consumer preferences, leading to technical and economic efficiency.

In contrast, a monopoly represents a market structure where a single firm dominates the industry and has substantial market power. In terms of technical efficiency, a monopoly may not necessarily achieve the same level as a perfectly competitive market. Due to the lack of competition, a monopoly may not have the same incentive to minimize costs or innovate as efficiently as possible. This can result in higher production costs and lower technical efficiency.

Regarding allocation efficiency, monopolies often fail. Without competition, a monopolistic firm can set prices higher than the marginal cost of production, resulting in a suboptimal allocation of resources. The monopolist may prioritize maximizing profits rather than satisfying consumer preferences. This leads to a less efficient allocation of resources than in a perfectly competitive market.

Overall, an ideal market structure exhibits higher levels of technical and allocative efficiency than a monopoly. When true competition promotes resource optimization and consumer satisfaction, resulting in more efficient resource allocation.

Answer:

wear gloves when preparing the salad.

Explanation:

Power is not necessary the only major bargaining point in any negotiation although it is one of the major factors that influence any negotiation.

 While power increases the probability that people consider negotiating in the first place due to higher feelings of entitlement and confidence that a positive result can be achieved, it sometimes may not get the appropriate result. The Russian-Ukraine Crises is a perfect example of this

  Several factors may affect the outcome  of a negotiation. One of the most important factor is the relative power between the negotiating parties.

Other factors include

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Answer:

Ramniwas Bookkeeper

A. The errors that caused the totals of the Trial Balance to disagree are:

1. A credit sale of Rs. 1,000 to Ajay had been correctly entered in the Sales Book but Ajay’s Account had been debited with Rs. 100 only.

2. The discount column of the Cash Book representing discount allowed to customer has been over-added by Rs. 10.

3. The total of Sales Book had been added Rs. 1,000 short.

B. The totals disagreed by:

Understated debit    Rs. 900

Overstated debit              (10)

Understated credit     (1,000)

Totals disagreed by   Rs. 110

Explanation:

a) Correction of Errors on the Trial Balance, March 31:

Account Title                             Debit       Credit

Account receivable (Ajayi's)   Rs. 900

Accounts Payable                                    Rs. 5,000

Accounts Receivable                5,000

Shyam                                       2,500

Ram                                                               2,500

Cash Discount Allowed                                     10

Drawings                                      100

Inventory                                                          100

Depreciation Expense                100

Accumulated Depreciation                             100

Sales Revenue                                             1,000

Totals                                Rs. 8,600     Rs.  8,710

b) Credit side of the Trial Balance was greater by Rs. 110 (Rs. 8,710 - Rs. 8,600).

Answer: B.

Explanation:

Answer:

b.  

Explanation:

question 1:

in the market for labor, demand describes:

c) the relationship between the quantity of labor that firms are willing to hire and the wage that they are willing to pay

question 2:

the derived demand for labor comes from the:

d) demand for the goods and services that the labor produces

question 3:

olivia is considering working a secretary job for a small law firm. given the opportunity costs of working the job, she will not accept a wage less than $12 per hour. which of the following is likely to raise olivia’s reservation wage?

a) olivia learns that the job is more challenging than she initially thought

question 4:

which of the following describes the substitution effect?

c) as wages increase, an individual’s leisure becomes more costly, making him less likely to choose leisure over labor

question 5:

in response to a lack of qualified nurses in the area, a state government has funded a campaign to increase the number of high school graduates interested in nursing careers. if successful, the campaign would:

d) shift the labor supply curve to the right

i got 100%

Answer:

a. Cost of good available for sale = $5,500

b. Moving average unit cost for :

June 1 = $5

June 12 = $3.4

June 15 = $3.4

June 23 = $5.55

June 27 = $3.6

Explanation:

a.

Date Explanation units Unit cost

Total cost Moving average cost

June 1 Inventory 200 $5

$1,000 $5

12 Purchase 400 $6

$2,400 $3.4

15 Sale 440 $8

$3,520 $3.4

23 Purchase 300 $7

$2,100 $5.55

27 Sale 360 $9

$3,240 $3.6

30 Inventory 100

Cost of goods available for sale =

Cost of beginning inventory + Cost of purchases

= $5,500 + ( $1,000 + $2,400 + $2,100)

b. Moving average unit cost for :

June 1 : Cost of goods available / Units of goods available = $5 ($1,000/200)

June 12: Cost of goods available / Units of goods available = $3.4 ($1,000 + $2,400/$1,000)

June 15 : Cost of goods available / Units of goods available = $3.4 ($340/100)

June 23 : Cost of goods available / Units of goods available = $5.55 ($340 + $2,100) / 440

June 27 : Cost of goods available / Units of goods available =$3.6 ($360/100)

The amount of capital that Transnet is said to be able to raise is put at  R100 billion business by 2020.

This is the name of a railroad company that was established in South Africa. The company is known for the fact that it is a port, a rail and a pipeline company in the nation.

According to the goals of the company, there goal is to grow the business to have a R100 billion business by 2020. This business is a limited liability company that is owned majorly by the Department of Public Enterprises of South Africa. The government of the country are known to be the sole share holder that the business has in the nation.

So based on the question that we have here we can conclude that the The amount of capital that Transnet is said to be able to raise is put at  R100 billion business by 2020.

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The net income for June was a. Overstated by $4,700.

In line with the accrual concept and the matching principle of generally accepted accounting principles, the revenue and the cost of goods sold should be recorded on June 30. If only the sales revenue is recorded without the cost of goods sold, the net income for June is overstated by the amount of the sales.

Thus, the net income for June was not overstated by $4,000 or $700. The net income was affected by the overstatement for $4,700 because the cost of goods sold was not matched with the sales revenue.

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Answer:

$33,600

Explanation:

The computation is shown below:

But first we have to determined the following things

Depreciation rate

= 1 ÷ useful life

= 1 ÷ 10

= 0.1

It is double-declining so the rate is also double i.e. 0.20

Now in the first year, the depreciation expense is

= $40,000 × 0.20

= $8,000

Now in the second year, the depreciation is

= ($40,000 - $8,000) × 0.20

= $25,600

So, the accumulated depreciation at the end of 2019 is

= $8,000 + $25,600

= $33,600

Here the residual value is not relevant. hence, ignored it

The statement that would not be an appropriate guideline for successful business plan development is d. Orient the plan to the present would not be an appropriate guideline for successful business plan development.

A successful business plan should take a forward-looking approach and focus on the future potential of the business. While it is important to consider current market conditions and factors affecting the business environment, the plan should also outline a clear vision for the future and identify strategies for achieving that vision. Orienting the plan solely to the present could limit the scope of the plan and make it difficult to see the long-term potential of the business.

The other three guidelines (highlight critical risks, avoid exaggeration, and do not overdiversify) can all be important components of a successful business plan. By highlighting critical risks, the plan can help to anticipate and prepare for potential challenges and obstacles. By avoiding exaggeration, the plan can maintain credibility and increase the likelihood of securing funding or partnerships. By not overdiversifying, the plan can stay focused and prioritize resources more effectively.

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Answer:

1. True

Explanation:

Work in process inventory is inventory that is still undergoing processing.  When the processing is completed, the goods (inventory) become finished goods.  And they are transferred to Finished Goods Inventory as cost of goods manufactured.  Finished Goods Inventory represents goods that are available for sale.  The cost of finished goods inventory also forms part of the cost of goods sold, which is used in determining the gross profit.  Accounting for work in process inventory is part of the multi-step system of accumulating and allocating cost of production to finished goods.

Answer:

Evergreen Company

1. Necessary Journal Entries for Evergreen involving the sale of merchandise:

Feb. 28  Debit Notes Receivable (Lennox Inc.) $10,000

              Credit Sales Revenue $10,000

To record the sale of goods on credit, terms 10% 7-month note.

Mar. 31: Debit Notes Receivable (Maddox Co.) $8,000

             Credit Sales Revenue $7,200

             Credit Interest Receivable $800

To record the sale of goods on credit.

Apr. 3  Debit Accounts Receivable (Carr Co.) $7,000

           Credit Sales Revenue $7,000

To record the sale of goods with terms 2/10, n/30.

Apri. 11 Debit Cash Account $6,860

           Cash Discount Allowed $140

           Credit Accounts Receivable (Carr Co.) $7,000

To record the collection on account.

Apr. 17 Debit Sales Returns $5,000

           Credit Accounts Receivable $5,000

To record the return of goods on account.

Apr. 30 Debit Cash Account $49,500

            Debit Finance Charges $500

            Credit Accounts Receivable $50,000

To record the transfer of receivables to a factor without recourse and 1% finance charge.

June 30 Debit Cash Account $8,800

              Debit Finance Charges $1,200

              Credit Notes Receivable $10,000

To record the discounting of the note at the bank at 12%.

2. Necessary Adjusting Journal Entries at December 31, 2021:

3. A Schedule showing the effect of the journal entries on 2021 income before taxes:

Sales revenue     $10,000

Sales Revenue        7,200

Sales Revenue        7,000

Discount Allowed      (140)

Interest Receivable   800

Sales Returns       (5,000)

Finance charges     (500)

Finance charges   (1,200)

Explanation:

Finance charge of $500 = ($50,000 * 1%). Factoring accounts receivable enables Evergreen to collect on its accounts receivable before the due date.  This usually attracts some finance charges.  Sales without recourse means that the factoring company and not Evergreen accepts the risk associated with credit default.  Sales with recourse implies that Evergreen retains the risk arising from credit default.