MixRecording Studios Purchased $7,800 in Electronic Components from TechCom $\begin{array}{|l|r|r|}\hline \text { Accounts Receivable } & 7,800 & \\\hline \text { Sales } & & 7,800 \\\hline\end{array}$

question 35

Multiple Choice

MixRecording Studios purchased $7,800 in electronic components from TechCom.MixRecording Studios signed a 60-day,10% promissory note for $7,800.TechCom's journal entry to record the sales portion of the transaction is:

• A)
• \(\begin{array}{|l|r|r|}
• \hline \text { Accounts Receivable } & 7,800 & \\
• \hline \text { Sales } & & 7,800 \\
• \hline
• \end{array}\)
• B)
• \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Receivable } & 7,930 & \\
• \hline \text { Sales } & & 7,930 \\
• \hline
• \end{array}\]
• C)
• \[\begin{array} { | c | r | r | }
• \hline \text { Notes Receivable } & 7,800 & \\
• \hline \text { Sales } & & 7,800 \\
• \hline
• \end{array}\]
• D)
• \[\begin{array} { | c | r | r | }
• \hline \text { Notes Receivable } & 7,930 & \\
• \hline \text { Sales } & & 7,930 \\
• \hline
• \end{array}\]
• E)
• \[\begin{array} { | l | r | r | }
• \hline \text { Notes Receivable } & 7,800 & \\
• \hline \text { Interest Receivable } & 130 & \\
• \hline \text { Sales } & & 7,930 \\
• \hline
• \end{array}\]

Comprehend the principles of supply and demand as they apply in both legal and black markets.

Analyze the effects of excise taxes on goods with different elasticity of demand and the concept of deadweight loss.

Recognize how secure private property rights and contract enforcement enhance market efficiency.

Understand the implications of rent controls and price ceilings on market equilibria and housing quality.

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