On 14 April 2012,Dragoon Ltd Sells on Credit $8000 of Merchandise

question 12

Multiple Choice

On 14 April 2012,Dragoon Ltd sells on credit $8000 of merchandise that had cost $5000.Which of the following journal entries would Dragoon Ltd make on 14 April 2012?

• A) DR Cost of goods sold\(\quad\)\(\quad\)$5000\(\quad\)\(\quad\)CR Inventory\(\quad\)\(\quad\)\(\quad\) $5000
• B) DR Accounts receivable\(\quad\) $8000\(\quad\)\(\quad\) CR Sales\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)$8000
• C) DR Cash\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\) $8000\(\quad\)\(\quad\) CR Accounts receivable $8000
• D) both A and B.

Recognize the importance of reinforcement in Bandura's theory, both direct and vicarious.

Appreciate the impact of a model's characteristics on the observer's likelihood to imitate behavior.

Identify factors influencing modeling and observational learning.

Grasp Bandura's approach to the role of cognitive processes in learning.

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Definitions:

Useful Life

The estimated duration of time a fixed asset is expected to be useful for its intended purpose.

Automating

The process of implementing systems and technology to perform tasks without human intervention, often to improve efficiency and accuracy.

Operating Expenses

Costs incurred in the regular functioning of a business, excluding direct production costs; these may include rent, utilities, and administrative salaries.

Sales Revenues

Income earned by a company from its sales of goods or services, before any deductions.