On March 3, Kitselman Appliances sells $781,500 of its receivables to Ervay Factors Inc. Ervay Factors assesses a finance charge of 1% of the amount of receivables sold. Prepare the entry on Kitselman Appliances' books to record the sale of the receivables.
(b) On May 10, Fillmore Company sold merchandise for $4,600 and accepted the customer's America Bank MasterCard. America Bank charges a 4% service charge for credit card sales. Prepare the entry on Fillmore Company's books to record the sale of merchandise
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On March 3, Kitselman Appliances sells $781,500 of its receivables to Ervay Factors Inc. Ervay Factors assesses a finance charge of 1% of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Suppose one U. S. dollar can purchase 144 yen today in the foreign exchange market. If the yen depreciates by 8.0% tomorrow, how many yen could one U. S. dollar buy tomorrow? a. 155.5 yenb. 144.0 yenc. 133.5 yend. 78.0 yene. 72.0 yen
Answers (2)
To promote economic growth, countries would most likely act so that inflation A. is eliminated B. remains at a high level C. remains at a low level D. is a negative number
Answers (2)
Are monopolies good or bad or both and why?
Answers (1)
White, Sands, and Luke has the following capital balances and profit and loss ratios: $60,000 (30%), $100,000 (20%) and $200,000 (50%). The partnership has received a predistribution plan. How would $200,000 be distributed?
Answers (1)
Choose the correct choice; At the current price level, producers supply $375 billion of final goods and services while consumers purchase $355 billion of final goods and services. The price level is: a. above equilibrium. b. at equilibrium. c.
Answers (1)
New Questions in Business
A contract between recreational games & rides, inc., and summer fair corporation includes a provision excluding liability as a result of fraud. this provision is
Answers (1)
If redbox is successful at attracting customers to a location, then mcdonald's could possibly realize
Answers (1)
Business Fluctuations: Work It Out 3 of 3 From the equation of exchange, M V = P Y, we know that spending growth (-→ M + → v) equals inflation π + Real growth.
Answers (1)
Homer can write checks on his account at intercity bank. jemma steals the checks, forges homer's signature, and cashes the checks at intercity.
Answers (1)
What is the goal for mass customization? A. The goal is to seek creative designs, efficient production, and high-quality goods via international collaboration. B.
Answers (1)