Capitalize is to give or invest your capital "money" to a company or an industry. According to this question you capitalize all of your assets, therefore your initial fundings will come from shareholding.
And your welcome!
Answer and Explanation:
The journal entry is shown below:
Cash $8,200
To Notes receivable $8,000
To Interest revenue ($8,000 × 10% × 90 days ÷ 360 days) $200
(being the collection of notes is recorded)
For recording this we debited the cash as it increased the asset and credited the notes receivable and interest revenue as it decreased the assets and increased the revenue
2 because Karen already had done the federal tax levy of 2100.50 so I don’t matter so the answer is 2
Answer:
Sales Returns and Allowances $140 and Accounts Receivable $140
Explanation:
When goods are returned, the sales revenue decreases through Sales Returns and Allowances which is an expense so it is debited and the goods sold on account so the Accounts Receivable which is an asset decreases so it is credited.
Date Account Titles and Explanations Debit Credit
Sales Returns and Allowances $140
Accounts Receivable $140
(To record sales returns)
