what is the correct entry for flores on december 5, assuming the correct payment was re ceived

Answers

Answer 1

The correct entry for Flores Mills on December 5, assuming the correct payment was received on that date, is: Cash 7,700 Accounts receivable 7,546 Discounts revenue 154. The correct option is B.

This is because the customer is entitled to a cash discount of 2% of the purchase price ($7,700 x 0.02 = $154) if payment is made within 10 days of the sale. Since the correct payment was received on December 5, which is 25 days after the sale, the customer did not take advantage of the discount.

Therefore, Flores Mills needs to record the full sale amount of $7,700 as cash received and reduce the accounts receivable balance by the amount the customer actually paid, which is $7,546.

Additionally, Flores Mills needs to recognize the discount revenue of $154 that was forfeited by the customer for not taking advantage of the discount. This entry reflects the gross method of accounting for cash discounts, where the discount is not recorded until it is actually taken by the customer. The correct option is B.

To know more about Accounts receivable, refer here:

https://brainly.com/question/30528965#

#SPJ11

Complete question:

On November 10 of the current year, Flores Mills sold carpet to a customer for $7,700 with credit terms 2/10, n/30. Flores uses the gross method of accounting for cash discounts. What is the correct entry for Flores on December 5, assuming the correct payment was received on that date?

Multiple Choice:

a. Cash 7,700 Accounts receivable 7,700

b. Cash 7,700 Accounts receivable 7,546 Discounts revenue 154

c. Cash 7,700 Accounts receivable 7,546 Interest revenue 154

d. Cash 7,854 Accounts receivable 7,700 Interest revenue 154


Related Questions

X works with the company Y. After ten (10) years of working with the said company, he was dismissed. He files an illegal dismissed case. The Labor Arbiter required him to prove his allegation of illegal dismissed with substantial evidence. Failure to do so, the Labor Arbiter said he would dismiss the case. Is the Labor Arbiter correct? Why or why not?

Answers

Answer: Yes, he is correct

Explanation:

Considering law cases or any case that has to do with charging someone or an organization, it is always vital to have an evidence of proof to give or show to the law court when making your allegations against the company, failure to do so would mean you're not correct about what you're saying if though you might be right.

The Labor Arbiter is correct because the client has failed to give evidence to prove his/her allegation.

1. Buyers, sellers, and producers all have someone else they are competing with for economic benefits. This is known as:
O competition
O monopoly
O collusid
O cartels

Answers

Answer:monopoly

Explanation:

1) Sally and James' daughter just turned 5 and they have some money that they could set aside for
their daughter. They want to make sure she will have $12,500 for her 17th birthday so she could use
that
money
to
go on an overseas trip. If they found an account that would pay 3.9% annual interest,
How much do they have to put into the account now? *

Answers

Answer:

$7,898

Explanation:

The $12,500 is equivalent to the future value of the invested amount.

using the formula

where A is future amount,

Pi= principal or invested amount,  

t = time 12 years ( the difference between 17 and 5 years)

r= is interest rate of 3.9% or 0.039 %

A = P(1 +rt)^n

$12,500= P(1 +0.039)^12

$12,500 = P(1.5827)

P=$12,500/1.5827

P= $7,897. 89

P=$7,898

How to inflate myself like a balloon

Answers

Answer:

get airget more air                    There you go :)get even more air                       I'll see you in the moon :0drink the air

I am MrBeast and if you can guess what number I am thinking of between 1 and 100 I will give $10,000. Comment or answer.

Answers

Answer:

58

ohhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

it's fake

This is fake!!! It's not even the real MrBeast!!

An article in a newspaper explains that a new business is about to open.

Answers

Answer:

So what's the question......??????

In what pricing strategy are prices lowered in a series of steps with the demand by those who really desire the product being satisfied at the highest prices?.

Answers

A price skimming strategy refers to when an e-commerce business charges the highest initial price that customers will pay, then lowers it over time. As demand from the first customers is satisfied and more competitors enter the market.

A skimming crime can be easy tax evasion: the owner of a business might also fail to "ring up" a transaction and pocket the coins, hence converting a patron's charge without delay to the proprietor's personal use with out accounting for the profit, thereby the proprietor avoids paying both commercial enterprise or non-public income taxes on it. A well-known example of this crime took place at Studio 54 discotheque,[1] which changed into compelled to close as a end result. Skimming at casinos is related to the investment of prepared crime.

Learn more about skimming here

https://brainly.com/question/27300377

#SPJ4

Explain the concept of inter cropping in brief . (5) note: it should be of 5 marks​

Answers

Answer:

Inter cropping is a type of multi cropping where the farmer cultivates two or more crops in a field simultaneously. Inter croping is a sustainable practice that can improve resource-use efficiency, such as nutrients and water, allowing low input agricultural practices.

Explanation:

Pls mark as brainliest

What type of business makes physical goods that customers can see or touch?
Internet service provider
banking industry
manufacturing industry
commodities industry

Answers

Manufacturing industry, type of business makes physical goods that customers can see or touch. Thus, option (c) is correct.

The term business refers to the earning the profit. The business is the taking the risk and the earning the profit. The business are the mainly focuses to the activity of the creating, distribution and selling concept based.

Manufacturing industry is a type of business that can produced the goods (product) are tangible form. Manufacturing industry produced two types of goods such as consumer goods and industrial goods. Customer can easily touch and feel the product.

As a result, the significance of the type of business makes physical goods that customers can see or touch are the aforementioned. Therefore, option (c) is correct.

Learn more about on business, here:

https://brainly.com/question/15826771

#SPJ1

How are rising housing costs in China mainland impact the people? (discuss both micro and macro)
-less money in hand, inflation, slow/depress economic growrth, etc.
.
.
.
.
please address China's condition.
Require about 300-500 words. DO NOT COPY AND PASTE. please be precise to the question and answer in OWN WORDS.

Answers

The way that rising housing costs in China are impacting people include the following:

Financial BurdenAffordability ChallengesWealth Inequality

What are effects of the housing crisis in China ?

Increasing housing costs result in a higher proportion of income being allocated towards housing expenses. This leaves individuals and households with less disposable income for other essential needs, such as education, healthcare, and saving for the future.

The rising housing costs make it difficult for individuals, particularly low-income earners and young people, to afford decent housing. Many are forced to live in overcrowded conditions, rely on substandard housing, or face the prospect of long commutes from more affordable areas.

The escalating housing costs contribute to widening wealth inequality. Property ownership and real estate investment become more lucrative, benefiting those who can afford to enter the market and exacerbating social and economic disparities.

Find out more on housing crisis at https://brainly.com/question/31629079

#SPJ4

Why is organic manure used in soil? Explain briefly.​

Answers

Explanation:

the supply plant nutrients including micronutrients they improve soil physical properties like structure of water holding capacity etc. they increase the availability of nutrients.

ANSWER: it's good for the soil and it's good for fertilization. hope this helped :)

When a site is unsafe, it means a. Your personal information may be used in ways you do not want c. Permission to use that site at school is always allowed b. That site is okay to visit often d. All of the above Please select the best answer from the choices provided A B C D

Answers

Answer:A, Your personal information may be used in ways you do not want

Explanation:

If it is a unsafe site than there for your personal information can go places you do not want them to.

When a site is unsafe, it means your personal information may be used in ways you do not want. Thus, option 'A' is the correct option.

What does it mean when a website is unsafe?

External connections to websites with phishing, malware, or unwanted software are known as unsafe domains. Phishing is when a website imitates another one in an effort to fool visitors into divulging personal or financial information. When you visit an insecure website, you run the risk of having your personal information compromised and/or having malicious malware installed on your system.

Additionally, you can fall prey to a phishing attack, or someone else might watch your activity or use your resources for their own gain. If the content you're seeking to view is harmful or misleading, a warning will appear. These websites are frequently referred to as phishing or virus sites. If you clicked on a phishing link, the first thing you should do is immediately unplug your device from the internet.

Learn more about the unsafe website, here:

https://brainly.com/question/27871014

#SPJ5

Question 1 of 10
To use an outline for writing a formal business document, what should you do
after entering your bottom-line statement?
A. Enter each major point from the outline on a separate line.
B. Move the bottom-line statement to the end of the document.
C. Write a topic sentence for every detail.
D. Enter each supporting detail from the outline on a separate line.
SUBMIT

Answers

A. You don’t want to put long sentences. You want to get straight to the point so they understand and read everything!

25 points, Why are certain brands global? 3-4 sentences, please.

Answers

Answer: Certain Brands can be global because of their profits, Let's take cars for a example, Cars can be made and distributed based on the company if they can pay for all the shipping and everything, but it really depends on the company and what they are selling.

Explanation:

What helps a consumer determine the quantity of something to buy?
marginal cost
marginal error
marginal benefit
marginal comparison

Answers

Answer:

marginal cost

Explanation:

"Marginal cost" plays a role when it comes to the quantity that consumers may actually buy for a particular product. If a company decides to produce many bags of good quality at a lower price, the company will be able to save money because over time, they will tend to choose a bulk purchase in which they'll be able to save money. Thus, their marginal cost will decrease. In this case, they can also lower the price for each bag. So, this means that their bags will not be expensive for consumers to buy and the more quantity the consumers will be willing to purchase.

Answer: The answer should be:

A: marginal cost

Explanation:

Edge 2023

Hope this helps! (^_^)

Irving purchase a car for $5,000 his interest rate is 10% for the year how much will he pay in one year's time​

Answers

Answer:

$500

Explanation:

The cost of the car is $5000

the interest is 10% per year

the interest paid in one year time will be

I= p x r x t

p = $5000; r =10% or 0.1 ;and t = 1

I = $5000 x 0.1 x 1

I= $500 x 1

Interest payable in one year is $500

One of the challenges Uniqlo faced when moving to large cities in the United States was the expense of maintaining a building location in a downtown area that would be big enough to house all of the products it wanted to sell. This is an issue with:

Answers

The issue above, where expense of maintaining a building location in a downtown area serves as challenge that was faced by Uniqlo can be attributed to Capital requirements.

What is Capital requirements?

Capital requirements  can be regarded as the  regulatory standards for banks, and this put them on check about  how much liquid capital they must keep on hand.

 Capital requirements  is been used as a tool to tighten an economic  after recession.

Learn more about Capital requirements at;

https://brainly.com/question/13186211

Congratulations you have just graduated from college and are determining what your monthly student loan payments will be. After consolidating all of your loans you have a balance of $18,000. At 8% APR for 10 years what will your monthly payments be?
A) 161.60$
B) 1,866.66
C) 218.39$
D) 1440.14$

Answers

According to the question the Monthly payments is $1,866.66.

What is payment?

Payment is the transfer of money from one party to another in exchange for goods or services. It is a method used to settle debts and other financial obligations. Payment can take place in many forms, such as cash, credit and debit cards, checks, and electronic transfers. In today's digital world, payment has become faster, more efficient and more secure than ever before. Companies are now able to offer customers more options for how to pay for goods and services, as well as different ways to process payments. Payment technology has made it easier for businesses to accept payments from customers, while also providing additional security measures to protect against fraud and theft. Payment is essential to the success of any business, and with the right tools and processes in place, companies can ensure that their customers are able to make timely and secure payments.

Monthly payments = (principal * interest rate) / (1 - (1 + interest rate)\(^{-term\))
For your loan, the principal is $18,000,
the interest rate is 8%, and the term is 10 years (or 120 months).
Plugging these numbers into the formula gives:
Monthly payments = ($18,000 * 0.08) / (1 - (1 + 0.08)⁻¹²⁰)
Monthly payments = $1,866.66.

To learn more about payment
https://brainly.com/question/26049409
#SPJ1

Can someone please fill out this chart for accounting 1. will give brainliest and 100 points

Can someone please fill out this chart for accounting 1. will give brainliest and 100 points
Can someone please fill out this chart for accounting 1. will give brainliest and 100 points

Answers

Answer:

     Sadly, I cannot answer, bacuase you are not showing us what is supposed to be filled out, nor any choices to fil it out with. If you were to give us the questions typed out, I’d be happy to answer!

Differentiate wealth-creating venture from income-generating venture.

Answers

Answer:

Explanation:

A wealth creating venture is expected to produce a return over a longer time span. Let’s say that the venture is expected to lose money for 5 years and then generate significant returns in year six. Over a ten year span, it might be very profitable. But if you are expecting to live off the proceeds starting on day one then you have a problem.

An income generating venture is expected to become cash-flow positive much sooner. A self-funding entrepreneur is likely to desire an income generating venture unless they are very wealthy. A venture backed business allows for a longer timeframe to accrue value.

¿Cómo podría Wal-Mart mejorar su estrategia de marketing para atraer a los grandes consumidores potenciales de este sector en los mercados internacionales?

Answers

Answer:

Para poder atraer grandes consumidores potenciales del sector de retail en los mercados internacionales, Walmart tendría que focalizarse en 3 tareas específicas:

1- Por un lado, invertir en publicidad en los lugares en los que desee aumentar su rendimiento comercial, para poder dar a conocer su marca y atraer a nuevos clientes, ingresando así a mercados en los que hasta ahora no tiene presencia.

2- Además, debe lógicamente invertir en relocalizar muchos de sus centros de distribución a esos nuevos mercados, para así poder facilitar la distribución de los productos que comercializa en los nuevos territorios.

3- Por otra parte, debe garantizar un acceso al comercio electrónico, para poder así proveer a los consumidores los mismos bienes que ofrece en los Estados Unidos, pero en sus territorios de origen.

Write the names of sender and receiver of quotation letter in foreign trade.​

Answers

Answer:

Wydm

Explanation:

If congress and the president decide an expansionary fiscal policy is​ necessary, what changes should they make in government spending or​ taxes?.

Answers

If congress and the president decide an expansionary fiscal policy is​ necessary, the changes should they make in government spending or​ taxes are:

.increase government spending and decrease taxesdecrease government spending and increase taxes

What is the expansionary fiscal policy?

Expansionary fiscal policy  can be described as the policies tht can be used by the government that bring about the improvement of the economy in the country.

It should be noted that this can encompass  the tax cuts, transfer payments as well as the increased government spending  with regfards to the  infrastructure improvements.

Learn more about expansionary fiscal policy at:

https://brainly.com/question/546292

#SPJ1

John F. Kennedy belleved that a leader should be

A. in the military

B. elected

C.a lifelong student ​

Answers

Answer:

c

Explanation:

After considering three possible marketing research firms, a chain of fitness centers has hired what they believe to be the best one for their project, an important customer service study intended to help the business grow. Companies look for a variety of characteristics when they hire a marketing research firm. Describe three characteristics the fitness center looks for in a marketing research firm, and explain why each is important

Answers

When a fitness center is considering hiring a marketing research firm, there are three key characteristics they typically look for Expertise in the fitness industry, Methodological rigor and data analysis capabilities, and Customization and client collaboration

1. Expertise in the fitness industry:

The fitness center would value a marketing research firm that has specific knowledge and experience in the fitness industry. This expertise allows the firm to understand the unique challenges, trends, and customer behaviors within the fitness market. By having a deep understanding of the industry, the research firm can provide valuable insights and recommendations tailored specifically to the fitness center's needs. It saves time and effort in explaining industry-specific concepts, resulting in more accurate and relevant research outcomes.

2. Methodological rigor and data analysis capabilities:

Another important characteristic is the marketing research firm's ability to employ rigorous methodologies and conduct thorough data analysis. The firm should have a track record of using reliable and valid research methods, such as surveys, focus groups, or observational studies, to gather data. They should also possess strong analytical skills to interpret the collected data effectively. This ensures that the research findings are accurate, reliable, and actionable, enabling the fitness center to make informed decisions and develop effective strategies.

3. Customization and client collaboration:

The fitness center seeks a marketing research firm that emphasizes customization and collaboration. Each fitness center has its unique goals, target market, and operational context. Therefore, the research firm should be willing to tailor their approach and methodologies to meet the specific needs of the fitness center. Moreover, effective collaboration between the research firm and the fitness center is essential. The firm should actively engage with the fitness center's management team, listen to their requirements, and involve them in the research process.

By considering these three characteristics—expertise in the fitness industry, methodological rigor, data analysis capabilities, and customization and client collaboration—the fitness center can choose a marketing research firm that can provide valuable insights and support their customer service study effectively.

Know more about Marketing research firm here:

https://brainly.com/question/31465967

#SPJ8

tammy and jacob guimond pay $2,125.86 in annual property taxes. the rate of assessment for their tax district is 35% and their tax rate is 48 mills. what is the market value of their property in dollars? round to the nearest hundredth.

Answers

The market value of their property is $329,275.56.

First, we need to find the assessed value of their property by dividing the annual property taxes by the tax rate:

Assessed value = (Annual property taxes) / (Tax rate)

Assessed value = $2,125.86 / (0.35 * 0.048)

Assessed value = $2,125.86 / 0.0168

Assessed value = $126,596.43

Next, we can use the assessed value to find the market value by dividing it by the assessment rate:

Market value = Assessed value / Assessment rate

Market value = $126,596.43 / 0.35

Market value = $361,703.51

Finally, we round to the nearest hundredth:

Market value = $329,275.56 (rounded to the nearest hundredth)

For more questions like Market click the link below:

https://brainly.com/question/13414268

#SPJ11

hiro was using the database to prepare information for a presentation to potential investors which tool is he likely to use
A. Queries
B. Reports
C. Sorts
D. Forms

Answers

Answer:

It's Reports

Explanation:

Answer:

B. Reports Hope this helps!

What is the incremental variable cost for a firm to produce on additional unity of the good?

Answers

The incremental variable cost for a firm to produce one additional unit of a good is the increase in total variable cost that results from producing that additional unit.

Variable costs are costs that vary with the level of production, such as the cost of raw materials, labor, and energy.

For example, if a firm is currently producing 100 units of a good and has total variable costs of $10,000, and the incremental variable cost of producing one additional unit is $50, then the total variable cost of producing 101 units would be $10,050 ($10,000 + $50).

The incremental variable cost is important for firms to consider when making decisions about production levels, pricing, and profitability. If the incremental variable cost of producing an additional unit is less than the price the firm can charge for that unit, then producing that unit will increase the firm's profit. However, if the incremental variable cost is greater than the price the firm can charge, then producing that unit will decrease the firm's profit.

To know more about incremental variable cost here

https://brainly.com/question/13945982

#SPJ4

Which margin is at the very bottom of the page when printing worksheets?

top margin
bottom margin
header margin
footer margin

Answers

Answer:

Footer Margin

Explanation:

Just took this :)

Answer:

Footer Margin

Explanation:

The text below describes the purpose of the Coalition of Independent Educator Associations (CIEA). The Coalition of Independent Educator Associations (CIEA) is made up of non-unionized education associations across America. Keeping educators connected, CIEA collaborates and focuses on serving its members in each state and on the national level. Source: cieaonline.org Judging from the organization's description, CIEA could be best categorized as what kind of interest group

Answers

Answer:

peak association

Explanation:

The Coalition of Independent Educator Associations (CIEA) is most likely an Economic interest group based on the description of its services.

Economic interest groups:

Represent the affairs of a labor group such as teachers and doctors Foster cooperation between members of a labor group Increase economic and financial access for their members

The Coalition of Independent Educator Associations (CIEA) is concerned with the affairs of educators as well as working to increase collaboration and cooperation between its educator members.

We can therefore conclude that the CIEA is an economic interest group as it engages in work that is typical of other economic interest groups.

Find out more at https://brainly.com/question/633579.

Other Questions
QUICK I NEED HELP!!!Liliana wants to determine the height of an enlarged photo that she plans to frame. The original photo was 11 inches wide by 14 inches high. The new photo will be 132 inches wide. What will the new height be? Round to the nearest inch if necessary.104 inches146 inches154 inches168 inches consider a stream of water falling out of a faucet with a radius of 1 cm with a velocity of 4 m/s. calculate the radius of the stream of water after it has fallen a distance of 10 cm. a. 4.86 mm b. 30.5 mm c. 9.7 mm d. 15.3 mm improvement of automatic extraction of inventive information with patent claims structure recognition Abhasra and her best friend found some money in an envelope. They split the money evenly, each getting $5.03. How much money did they find? What does the Eighth Amendment protect people from?dealing with double jeopardyfacing a search and seizurebeing forced to testify against themselvesreceiving cruel or unusual punishment If you repeat this experiment 360 times, how many repetitions do you predict will result in the same letter being spun for both spins? What is the purpose of the dna ladder in gel electrophoresis. Change from spherical coordinates to rectangular coordinates 4 4 O4z2 = 2(x2 + y2) 222 =2(x2 + y2) 2z2 = 2(x2 + y2), z20 O None of the others 222 =2(x2 + y2), Z50 Is the following statement true or false? The intersection of a plane and a ray can be a line segment. true false A rocket is burning fuel at the rate of 300g/s and electing all the gas. In one direction of the rate of 500m/s what is maximum weight the rocket burn have if it going to move Vertically upward. Which statement most clearly shows an example of ethos? There is nothing more important than making sure everyone has access to a quality education. O Today, too many recent college graduates are struggling to secure a job in their field of study. O As the CEO of a major technology company, I am constantly making tough hiring decisions. O While a college education isn't everything, it does make a difference on a job application. Mark this and return Save and Exit Next Submit whats the best way of not being stress Sweetener or Thank u, next? 1 Find out about the different types of home inside Roman towns. What did they look like? How many rooms did they have? How big were they? According to Protiviti, what is an example of managing a "UnknownUnknown" or Black SwanIdentify most critical strategic assumptions and monitor continued validity of those assumptions, creating "early warning capability"Anticipate extreme but plausible scenarios, recognizing that the bar of plausibility has lowered!Focused attention and decisivenessConsider velocity, persistence, response readiness and uncompensated risks associated with each scenario 3 ratios equivalent to 16:12 16. Geography If a ship sailed due south from Iceland to Antarctica, it would sailthrough an angle of rotation of about 140 around Earth's center. Find this measure inradians. Then, using 3960 miles for Earth's radius, find how far the ship would travel. Can some one help me please!! Analyze the causes and effects in the rise of a nationalAmerican identity from 1754 to 1800.Please help!!! please help!Find the exact volume of this cylinder in terms of 3.16 (Pi). Refer to your STAAR 8th GradeMath Reference Sheet for the appropriate formula.A) 45pi cm3B) 90pi cm3C) 225pi cm3D) 900pi cm32nd Question (You dont need to answer if you dont want too..)uhh how do I use the formula? do I multiply or??thank you