Zane Corporation Sells $1,000 Worth of Goods on July 25

question 48

Multiple Choice

Zane Corporation sells $1,000 worth of goods on July 25 on credit.The customer sends the company a check on August 15.The customer receives the goods on September 1.Assuming the company uses accrual accounting,the sale will be recorded in _____.

• A)August
• B)July
• C)September
• D)October

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Definitions:

Synchronous Motor

A type of AC motor that operates at a speed directly proportional to the frequency of the current supply.

Power Factor Correction

Adding capacitance or inductance to a circuit to cause the current and voltage to become more in phase with each other.

Synchronous Condenser

A term used to describe a synchronous motor that is used to provide power factor correction.

Synchronous Speed

The speed at which the magnetic field in an AC machine rotates, typically in motors or generators, determined by the machine's electrical frequency and the number of magnetic poles.