answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
aleksley [76]
2 years ago
12

A company factored $30,000 of its accounts receivable and was charged a 2% factoring fee. The journal entry to record this trans

action would include a debit to Cash of $30,000, a debit to Factoring Fee Expense of $600, and credit to Accounts Receivable of $30,600.
a. True
b. False
Business
1 answer:
rosijanka [135]2 years ago
4 0

Answer:

False

Explanation:

Given that,

Accounts receivable = $30,000

Factoring fee charged = 2%

Therefore,

Factory fee = 2% of Accounts receivable

                   = 2% × $30,000

                   = $600

The amount $600 has to be subtracted from the accounts receivable.

Hence, the journal entry is as follows;

Cash A/c ($30,000 - $600) Dr. $29,400

Factory fee Expense A/c     Dr. $600

      To Accounts Receivable                     $30,000

(To record the account receivable)

You might be interested in
50 POINTS!!! for the best answer
timurjin [86]

Answer:

<u><em>1. an advertising technique that uses a new kind of technology to communicate its message </em></u>

Mobile video advertising

Mobile video consumption is growing rapidly and providing advertisers with a way to reach consumers when they are paying attention. Between Q3 2012 and Q3 2014, smartphone and tablet video consumption grew 400 percent and now accounts for 30 percent of all online videos played, according to Ooyala’s Global Video Index. This trend has been helped along by the expansion of fast 4G/LTE coverage. The bigger iPhone 6 screen and the popularity of other ‘phablets’ (large-screen smartphones) also reflect the growing importance of mobile video. As phablets saturate the market, they will in turn feed the growth of mobile video.

2. an advertising technique that is most effective at the point of sale (i.e. at the moment the customer purchases the product)

The display of candy bars within immediate reach reminds you that you’re a little hungry, so you grab one (it’s on sale). Oh, and that magazine looks interesting. You’re already reading an article when you get to the cash register, where the teller asks if you want to donate $1 to a charity; and doing so, you write your name on a little heart placard that gets placed on the wall with a hundred other hearts from other donators. Finally, you complete your purchase(s) and get your receipt—with several extra items you hadn't expected to buy.

Point of sale marketing refers to all efforts that increase sales at the point the purchase is actually made. Primarily this revolves around a cash register (although a point of purchase for a business might be a meeting table, or an Internet page), and is a staple of retail and restaurant environments

3. a real-world case study of a company that was legally penalized for making false advertising claims

On March 29, 2016, the Federal Trade Commission (FTC) filed a lawsuit against Volkswagen, which claimed that the car company had deceived customers with the advertising campaign it used to promote its supposedly "Clean Diesel" vehicles, according to a press release.

In 2015, it was exposed that VW had been cheating emissions tests on its diesel cars in the US for the past seven years.

The FTC alleged that "Volkswagen deceived consumers by selling or leasing more than 550,000 diesel cars based on false claims that the cars were low-emission, environmentally friendly."

3 0
2 years ago
Your entertainment price index (EPI) was computed based on three goods: movie tickets, popcorn, and limeade. If you change the q
DaniilM [7]

Answer:

Your entertainment price index (EPI), might fall or rise, contingent on both the quantity of the goods that you bought and the prices of these goods.

Explanation:

Price index is used extensively to estimate changes in prices overtime and are also used to measure differences in costs among different areas of countries.

4 0
2 years ago
Read 2 more answers
Spokes Bikes has 18 different bicycle models that can be created in over 2 million combinations. Each combination is designed to
vampirchik [111]

Answer:

Correct option is (C)

Explanation:

Mass customization refers to manufacturing products suited for individual needs and preferences at the same time producing huge amount of products at low cost offering value to customers.

Customers are allowed to make modifications as per their requirements in the basic model offered by the organization. So customer is free to pick the color, design and model of their choice.

Spokes bikes is therefore using mass customization.

3 0
2 years ago
You just opened a brokerage account, depositing $4,500. You expect the account to earn an interest rate of 8.57%. You also plan
Mariulka [41]

Answer:

$74108

Explanation:

Solution

Given that:

Deposit = $4,500

Interest rate =8.57%

Plan to deposit =$3000 at the end of 5 years through 1

n= 20 years

Now

We apply the formula given below:

A=P(1+r/100)^n

Here

A=future value

P=present value

r=rate of interest

n=time period.

Thus

=4500(1.0857)^20+3000(1.0857)^15+3000(1.0857)^14+3000(1.0857)^13+3000(1.0857)^12+3000(1.0857)^11+3000(1.0857)^10

=$74108

Therefore the account value at 20 years (ending) is $74108

5 0
2 years ago
Joy is a supervisor over Elias. She repeatedly solicits sexual behavior from Elias and does other inappropriate actions that a r
SVEN [57.7K]

Answer: C) guilty of hostile work environment sexual harassment.

Explanation: A hostile work environment is a work environment where one or more persons act in such a way to offend or provoke anger in other persons. The activities of Joy towards Elias is hostile as it is against the will of Elias.

Sexual harassment is a term used to describe any action taken to solicit for sex,sexual behaviour or touch the private parts of others in embarrassing manner. THE ACTIVITIES OF JOY MAKING HER TO SOLICIT SEXUAL BEHAVIOUR FROM ELIAS IS A SEXUAL HARASSMENT AND WHEN PROVEN IN THE COURTS SHE SHALL BE FOUND GUILTY.

3 0
2 years ago
Other questions:
  • Behavior modification depends upon what principle?
    12·1 answer
  • If ty chooses a smart phone simply because he perceives it to be rated highest on megapixels, which he believes is the most impo
    7·1 answer
  • John Jansen, an employee of Redwood Company, had gross earnings for the month of May of $4,000. FICA taxes are 7.65% of gross ea
    6·1 answer
  • Which of the following is a source of market power for a monopolist? a. a firm may have a patent or copyright b. a firm may cont
    6·1 answer
  • On January 1, last year, Randy was awarded 15,000 ISOs at an exercise price of $3 per share when the fair market value of the st
    6·1 answer
  • Many software companies allow customers to use limited versions of their software free for 30 days. This strategy tries to incre
    12·1 answer
  • You are considering two independent projects. Project A has an initial cost of $125,000 and cash inflows of $46,000, $79,000, an
    10·1 answer
  • Mae Refiners, Inc., processes sugar cane that it purchases from farmers. Sugar cane is processed in batches. A batch of sugar ca
    11·1 answer
  • Xerox, the U.S. Postal​ Service, and​ McDonald's have enjoyed significant market power in the past. List and explain three major
    5·1 answer
  • As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 30% of Nursery Supplies Inc
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!