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hjlf
2 years ago
12

​Joy's Accessories bought 69 necklaces for $ 11 each on account. The payment terms of 3​/10, ​n/30. In​ addition, 9 necklaces we

re returned prior to payment. The entry to record the initial purchase would​ include:
Business
1 answer:
madreJ [45]2 years ago
7 0

Answer:

To record the initial purchase, the entries required in Joy's Accessories are:

Debit Purchases Account with 69x$11 - $759

Credit Supplier's Account (Accounts Payable) - $759

Explanation:

The initial purchase is recorded as it was made without taking into account activities that happened after.

Once value had been received, it is recognized immediately.  When 9 necklaces are returned before payment, then the entries above would be reduced by 9 x $11 or $99 through Purchases Return Account.

If payment is made within 10 days, Joy's Accessories will be able to take advantage of the 3% cash discount offered by the supplier and then pays the net value.  And subsequently, this will be recognized in the books.

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Mr. Torres has a small savings account. He would like to pay for his monthly Part D premiums with an automatic monthly withdrawa
Ghella [55]

Answer:

In general, Mr Torres must select a single Part D premium payment mechanism that will be used throughout the year.

Explanation:

Given the situation above, the best advice to give Mr. Torres, is that, all things being equal, it is imperative generally, that he must select a single Part D premium payment mechanism that will be used throughout the year.

This is because, it will be a lot easier, with less stress of constant monitoring his savings account and often time, it is more beneficial to use.

8 0
2 years ago
Audreys free-throw percentage so far this season is .875. If she makes only 13 of her next 20 free throws, her percentage will d
otez555 [7]

Answer:

245 free throws

Explanation:

x will be number of times Audreys makes a shot, and let y be total number of the shots.

x/y = .875

(x+13)/(y+20) = .860

Let solve for x in equation 1

x = .875y

We will plug the for x in the equation 2

(.875y+13)/(y+20)

= .860

.875y + 13

= .860y + 17.2

.015y = 4.2

y = 280

Audreys has taken 280 shots.

We will Plug that back into the equation 1 in order to find out how many Audreys made.

x/280 = .875

x = 245

Hence :

Audreys made 245 free throws

6 0
2 years ago
Beck Kubiak wishes to purchase new appliances for her home. The total cost for the appliances is $2,900. To finance the purchase
Flura [38]

Answer:

total finance charge = $203.08

her monthly payment = $105.13

Explanation:

The Loan amount = Cost of Appliance - Down Payment

                              = $2,900 - ($2,900 × 20%)

                              = $2,320

Change the APR to nominal compounding,

Using a Financial Calculator, this will be :

8.50 % Shift EFF%

12 Shift P/YR

Shift NOM % = 8.19%

Then calculate the <em>monthly payment</em> as follows :

Pv = $2,320

n = 24

p/yr = 12

r = 8.19%

Fv = $0

PMT = ?

Using a Financial Calculator, monthly payment, PMT is $105.13

Total Finance Charge will then be obtained from the amortization schedule from the First Period to the 24th Period and this will be : $203.08.

5 0
2 years ago
A description of the processes you use to ensure that results meet the specified quality standards is a _____.
gulaghasi [49]

Answer:

d. quality assurance plan

:

Quality assurance plan is meant to ensure that the final products are matching to required quality. There are four basic steps of the quality assurance process: Plan, Do, Check, and Act.

7 0
2 years ago
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Michelle works in an appliance store. She has a goal to sell a combination of six refrigerators, stoves or dishwashers so she ca
kotykmax [81]
The ‘SMART’ technique a tool for effective goal setting. The acronym SMART stands for Specific, Measurable, Attainable, Realistic, and Time-bound, all of which are requisites for goals. The goal “to sell a combination of six refrigerators, stoves or dishwashers to earn a bonus” is specific, measurable, attainable and realistic because Michelle has done this before. Yet the goal is not time-bound. The length of time it is required to meet is not specified in the goal. 
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2 years ago
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