Mercks uses the perpetual inventory system,and accepts the Discovery bank credit card for credit card sales.Discovery charges Mercks a 3% fee,and all credit card receipts deposited are credited to the company account on the day of deposit.Prepare journal entries to record the following transaction.
Definitions:
Negotiable Document of Title
A negotiable document of title represents control or ownership of goods that are in transit or storage and can be transferred by endorsement or delivery to effect the transfer of goods it covers.
Direct Institutional Discrimination
Occurs when an institution employs policies or practices that are discriminatory against a person or group.
Indirect Institutional Discrimination
When individuals are treated differently based on an unlawful criterion (physical disability, cultural origin, age, gender, religion), even though these actions were never intended to be discriminatory.
Discriminatory Policies
Practices or directives that result in unfair treatment of individuals or groups based on specific characteristics, such as race, age, or gender.
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