A Company Sells $800,000 of Accounts Receivable to a Factor

question 182

Multiple Choice

A company sells $800,000 of accounts receivable to a factor for cash, incurring a 2% service charge.The entry to record the sale should not include a

• A)debit to Interest Expense for $16,000.
• B)debit to Cash for $784,000.
• C)debit to Service Charge Expense for $16,000.
• D)credit to Accounts Receivable for $800,000.

Identify the developmental stages of teams and the importance of team development models.

Comprehend the impact of leadership and organizational practices on the development of informal groups.

Distinguish between open and closed groups and their significance in an organization.

Evaluate the role of conflict and communication in team effectiveness.

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Definitions:

Mammalian Respiration

The process by which mammals exchange gases with their environment, involving the inhalation of oxygen and exhalation of carbon dioxide.

Air Sacs

Specialized structures in birds that extend from the lungs, facilitating efficient gas exchange and buoyancy.

Bird Respiration

The process by which birds exchange gases, notably featuring a unique system of air sacs that provides them with a continuous flow of air through their lungs for high efficiency.

Alveoli

Tiny air sacs within the lungs where the exchange of oxygen and carbon dioxide takes place.