On December 1, 2013, Parsons Sales Sold Machinery to a Customer

question 160

Essay

On December 1, 2013, Parsons Sales sold machinery to a customer for $2,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 12% interest. Please provide the accrual entry needed at December 31, 2013.

Understand the ethical considerations and limitations of behavior modification techniques.

Differentiate between various methods used for assessing the effectiveness of token economies.

Recognize the challenges of transitioning from institutionalized therapy settings to community living.

Identify the signs and symptoms of neuroleptic malignant syndrome and tardive dyskinesia.

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Definitions:

Security Deposit

The money given to the landlord from the tenant as protection in the event that the tenant causes damage to the rented property; refunded when the tenant moves out if there is no damage, and can range from 1 to 4 month’s rent.

Landlord

The owner of property (such as land, houses, or apartments) that is leased or rented to others.

Protection

Measures or strategies implemented to safeguard against financial loss, damage, or other adverse effects.

Front-end Ratio

A financial ratio that compares a person’s gross monthly income to his or her monthly housing costs.