A Company Sold Merchandise for $24,000 on Account with Terms

question 85

Multiple Choice

A company sold merchandise for $24,000 on account with terms of 5/15,n/30.The company uses a perpetual inventory system.After two days,it received defective merchandise worth $4,000.The journal entry to record the cash receipt for the sale if the payment is received within 10 days of the invoice date would include ________.

• A)a debit to Cash for $20,000,a credit to Merchandise Inventory for $1,000,and a credit to Sales Revenue for $19,000
• B)a debit to Cash for $19,000,a debit to Sales Discount for $1,000,and a credit to Accounts Receivable for $20,000
• C)a debit to Cash for $20,000,a debit to Merchandise Inventory for $4,000,and a credit to Accounts Receivable for $24,000
• D)a debit to Sales Revenue for $24,000,a credit to Accounts Receivable for $20,000,and a credit to Sales Discounts for $4,000

Analyze the impact of social media on public expectations of corporate communication and its consequences on organizational credibility.

Identify and discuss the risks associated with the misuse of social media in public relations.

Distinguish between social media and traditional media in terms of features and communication models.

Trace the historical development of social media and understand its roots.

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Definitions:

Fixed Percentage

A specific, unchanging proportion or rate applied to a quantity or value, often used in calculating interest, commission, or growth rates.

Zero Inflation

A situation where the price level of goods and services remains constant over time, indicating no inflation in an economy.

Labor Market

The marketplace in which laborers offer their skills and labor to employers in exchange for wages.

Real Interest Rates

The rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation.