On December 2,a Customer Returned Merchandise,with a Selling Price of $1,400

question 133

Multiple Choice

On December 2,a customer returned merchandise,with a selling price of $1,400 purchased on account,to a department store.Ignoring cost of goods sold,which journal entry should the department store prepare? Assume no discounts were offered.

• A)Debit Sales Revenue for $1,400 and credit Accounts Receivable for $1,400.
• B)Debit Sales Revenue for $1,400 and credit Cash for $1,400.
• C)Debit Sales Revenue for $1,400 and credit Sales Refunds Payable for $1,400.
• D)Debit Sales Refunds Payable for $1,400 and credit Accounts Receivable for $1,400.

Understand employee voice mechanisms and the role of unions in facilitating this.

Identify the legal foundation and human rights perspective on labor relations.

Assess the impact of labor relations on business operations and competition.

Understand the factors contributing to the decline in union density.

---

Definitions:

Long-Term Investments

Assets that a company intends to hold for more than one year, such as stocks, bonds, or real estate.

Unrealized Gain

An unrealized gain is an increase in the value of an investment or asset that has not been sold, and consequently, the profit has not yet been taken or considered as income.

Fair Value Adjustment

Fair value adjustment involves altering the reported value of a company's assets or liabilities to reflect their current market values.

Investment Revenue

Income earned from various investments like stocks, bonds, or real estate.