Business High School

Question 7 (10 points) A company received cash sales of $15000. They also collected $43000 in receivables during the month. Answer questions 4 to 6 with this information. 6. If the sales received were all made by credit cards with a fee of 1.25%, what would be the journal entry for cash? Question 7 options: 187.50 Credit 187.50 Debit 14,821.50 Credit 14,821.50 Debit

Answers

Answer 1

Answer: Debit 14,821.50

Explanation:

The following information can be gotten from the question:

Cash sales = $15000

Receivables = $43000

Since the sales received were all made by credit cards with a fee of 1.25%, the journal entry for cash will be calculated as:

= $15000 - (1.25% × $15000)

= $15000 - (0.0125 × $15000)

= $15000 - $187.50

= $14812.50

The journal entry for cash will be a debit of $14812.50

Related Questions

The _____ motive encourages entrepreneurs to start businesses, expand existing one, create new products or improve existing ones, and/or improve production processes to use resources efficiently.
1.)profit
2.)price
3.)none of the above

Answers

It is the 1) profit motive that encourages entrepreneurs to start businesses, expand old businesses, create new or improve products and production processes for efficient use of resources.

What is the profit motive?

The profit motive describes the economic incentive that drives the activities and decisions of entrepreneurs.

Thus, it is not price that motivates entrepreneurs but profit.

Learn more about the role of the profit motive in resource allocation at https://brainly.com/question/933169

I WILL GIVE BRAINLIEST

This part of the business cycle is when companies have hired as many employees needed to supply enough goods demanded by consumers to optimize profit.

A. Trough
B. Growth
C. Recession
D. Peak

Answers

i think its B thanks:)

Tony is facing a financial crisis in his business. Instead of applying for a loan from a commercial bank, he takes a loan from the cooperative that he partly owns with some of his friends. This cooperative acts as a depository institution where all the members deposit their savings on a higher interest rate than that offered by commercial banks. Being a member of this cooperative, he gets the advantage of being charged lower interest rate on his loan. Based on the information given in the scenario, the cooperative owned by Tony and his friends exemplifies a(n) _____.

Answers

Answer:

credit union

Explanation:

A credit union can be regarded as

not-for-profit financial institution which is under control of the members who has money deposited in it. It doesn't maximize profit but rather give back favorable interest rates to it's members as profit.

Can u help me plzzzzzzz​

Answers

Answer:

warm up

an advert in a prime time TV show :a mass market

an advert in a local newspaper :a market in particular location

an advert in a magazine for teenagers : a market of particular age

Explanation:

one region why company will match the branding of a new product to the company's overall brand image is;market

by the help of this company can attract customers for their product.company gain a profit as it helps to get market which makes company belief towards the satisfaction.

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