Journalize the Following Transactions for Evans Company

question 114

Essay

Journalize the following transactions for Evans Company. Assume the company uses a perpetual inventory system.
(a)Sold merchandise for $645 cash. The cost of merchandise sold was $375.
(b)Sold merchandise for $432 and accepted VISA as the form of payment.The cost of merchandise sold was $195.
(c)Sold merchandise on account for $670. The cost of merchandise sold was $438.
(d)Paid credit card fees for the month of $85.​​

Recognize the types of law created by administrative agencies.

Distinguish between executive and independent agencies and their classifications.

Understand the process of rule making, including informal and formal rule-making procedures.

Identify how administrative law judges' decisions are dealt with and the appeal process.

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Definitions:

Systematic Way

A methodical approach to procedures or practices that are organized according to a plan or system.

Reality

The sum or aggregate of all that is real or existent within a system, as opposed to that which is only imaginary.

Material

Consisting of physical substance; relating to physical matter and objects as opposed to spiritual or intellectual qualities.

Spiritual

Relating to or affecting the human spirit or soul as opposed to material or physical things; often concerns a sense of connection to something greater than oneself.