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igomit [66]
2 years ago
15

Wise Guys Consulting issues an invoice for $9,000 to one of their clients for services provided. The terms of the invoice call f

or payment 30 days after the invoice date. What would be the impact at the date the services are completed and invoiced?
Business
1 answer:
Colt1911 [192]2 years ago
8 0

Answer:

<em>The impact on the date the services are completed and invoiced is just that the payment of $9,000.00 has been processed and received on the 30th day of the month.</em>

Explanation:

While entering an <em>Advance Payment (AP) </em>invoice, there is the option to enter an invoice and posting date: Invoice Date – refers to <em>the date of the actual invoice</em>, This is used to determine the <em>due date</em>. The payment terms use this date to determine the due date and discount period. Post Date is used for<em> releasing to General Ledger.</em>

<em></em>

<em>A transaction date in the date upon which a trade takes place for a security or other financial instrument. The transaction date represents the time at which ownership officially transfers</em>

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Sales returns and allowances A) Represent a reduction of the customer's account receivable B) Provide information about dissatis
Yuri [45]

Answer:

The correct options are<em> (B). Provide information about dissatisfied customers and the possibility of lost future sales and  (D). Are usually recorded in separate contra-revenue accounts.</em>

<em />

<em>From the foregoing the Account Receivable should be credited with the full amount of the original sales transactions not debited as provided in option </em><em>"A." Represent a reduction of the customer's account receivable.</em>

Explanation:

<em>Sales Returns and Allowances is a contra-revenue account deducted from Sales</em>. When customers return goods for one unsatisfied reason or the other, adjustments are made to the sales account. Likewise, deductions to the original selling price are made when the customer accepts defective products.

<em>How to Record the Sales Return Transaction </em>

<em>The following under-listed steps are to be taken to make the appropriate entries:</em>

  • Debit sales returns and allowances by the selling price.
  • Debit the appropriate tax liability account by the taxes collected on the original sale.
  • Credit cash or accounts receivable by the full amount of the original sales transaction.
7 0
2 years ago
It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when an excessive
Arlecino [84]

Answer:

It describes the problem of transaction costs and negotiation.

Explanation:

Externalities are situations that arise when the activities of an organization affects another for good or bad, but with the first organization that caused the change, receiving no benefits (if it was a positive change), or bearing no costs (if it as a negative change).

Ronald Coase proposed some theories about the possible solutions to externalities. One of them is negotiation between the two parties involved. The problem with this solution is the high costs of transaction that could be spent before an agreement is reached. The number of people involved in the negotiation could also be a problem.

4 0
2 years ago
Joann Hayes is currently working on a project to tackle climate change. During the project, she needs to find different options
Serga [27]

Answer:

The correct answer is letter "C": Conceptual skills.

Explanation:

Conceptual skills are theoretical knowledge individuals have that allows them to synthesize abstract ideas with material objects to perform certain duties or pieces of work. In every professional field, conceptual skills are necessary moreover when new ideas are to be introduced to resolve problems.

Thus, <em>Joann Hayes must out in practice her conceptual skills while finding ways to replace the use of non-renewable energy and feasible options to do that practically.</em>

4 0
2 years ago
Amara has taken out a fixed rate mortgage for $125,000 at 4.04% for 20 years, or 240 months. Her payments are $730. What is the
Assoli18 [71]

Answer:

`175,200$

Explanation:

730x240= Answer

3 0
1 year ago
Builder Monty must secure a loan with mortgages on five different lots. What type of loan will he need?
Zielflug [23.3K]

Answer:

B. Blanket loan

Explanation:

According to my research on the different types of loans provided by banks, I can say that based on the information provided within the question the type of loan that Monty will need is called a Blanket Loan. This is because this is a type of loan that is given by a bank in order for an individual to be able to buy multiple pieces of real estate

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

8 0
2 years ago
Read 2 more answers
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