On November 1, 2012, Everett Janitorial Supply Sold Merchandise for $5,000

question 111

Essay

On November 1, 2012, Everett Janitorial Supply sold merchandise for $5,000, FOB destination, 2/10, n/30. The merchandise cost $3,200. Please provide the journal entry to record Sales revenue.

Identify the role of government in creating or limiting monopoly power.

Analyze the economic effects of monopoly on income distribution.

Describe the conditions for effective price discrimination in monopoly.

Understand the relationship between demand elasticity and monopolist's pricing decisions.

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Definitions:

Good Serves

Good serves refer to successful and effective service actions in games like tennis or volleyball that significantly increase the chance of scoring.

Gym Regularly

The practice of attending a gymnasium frequently to exercise or maintain physical fitness.

High Paying Job

A profession or occupation that offers a significantly higher salary compared to average positions.

Customers' Preference

The inclination or predisposition of consumers towards certain products, services, or brands over others.