<u>Adjusting entry for Rent Receivable:</u>
It is given that Sanborn Company rents space to a tenant for $3,100 per month. The tenant currently owes rent for November and December, it means the Rent Receivable as on Dec. 31 is (3100*2) = $6,200
So the adjusting entry as on Dec. 31 shall be as follows:
Rent Receivable Debit $6,200
Rent Revenue Credit $6,200
(Being adjustment made for rent receivable)
The correct entry to record the cash sales is
<span>Debit Cash $2058
credit Cash Over and Short $ 8
credit Sales $2050
The cash over and short will record the amount of cash that is not recorded during the initial transaction. Almost all stores experience cash over and short daily, and usually will be taken monthly from an account set aside by the stores to cover the mistake by its employees.
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Answer:
1. To equalize their relationship with their employers.
Explanation:
This took place in the 18th century, stated to have happened about the late 70's as it was known that artisans slowly started becoming the new kings.
Their trades which ranges from cabinetmaking, baking, butchering, goldsmithing, silversmithing, carpentry, tailoring and also shoemaking.
These workforce were either wage earners, they start as craftsmen and grow to become great entrepreneurs and this got eyes on them causing them to form cults for themselves only to equalize their relationship with their employers.
Answer:
<em>A differentiated market</em>
Explanation:
<em>Whenever a business produces initiatives that cater to at least two product categories or targeted groups, a differentiated marketing strategy is applied</em>.
For instance, a retailer may encourage a purchase in at least two towns or locations that caters to people, or even a business can market a brand which appeals to women in at least two age categories.
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
