During March,Seconds Best Company Had Cash Sales of $35,000 and Sales

question 214

Multiple Choice

During March,Seconds Best Company had cash sales of $35,000 and sales on account of $210,000.In April,payments on account totaled $175,000. The journal entry prepared by Seconds Best Company to record customer payments on account during April would include a debit to:

• A)Cash and a credit to Deferred Revenue for $175,000.
• B)Cash and a credit to Sales Revenue for $175,000.
• C)Cash and a credit to Accounts Receivable for $175,000.
• D)Cash and a credit to Accounts Payable for $175,000.

Comprehend the distinction between hygiene factors and motivational factors in Herzberg's two-factor theory.

Appreciate the cultural and situational variations in the applicability of motivation theories.

Understand the significance of stories in conveying meaning and identity within organizations.

Comprehend the role and types of organizational ceremonies and rites in reflecting and shaping the culture.

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Definitions:

Surplus

A situation where the quantity supplied of a good exceeds the quantity demanded at the current price, often leading to a decrease in prices.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a given price over a specific period of time.

Quantity Supplied

The total amount of a product that producers are willing and able to sell at a given price over a specified period.

Equilibrium Price

The price at which the quantity of a good or service offered by suppliers equals the quantity demanded by consumers.