Theo's decision to purchase the software from an online vendor at a lower price is legal, as he is not breaking any laws by doing so. However, using Lana's copy of the software without her permission is not ethical, as it could be considered a breach of trust between them.
Theo's agreement to delete Lana's copy and replace it with his own once it arrives shows that he understands the importance of owning a legitimate copy of the software.
Lana's decision to allow Theo to use her copy of the software is legal, as she owns a legitimate copy and is allowed to share it with others. However, it could be considered unethical if she did not fully understand the implications of allowing someone else to use her software, or if she did not have the right to share it with others.
Overall, while Theo's actions may not be illegal, they raise ethical concerns about the importance of owning legitimate copies of software and respecting the ownership rights of others. Similarly, while Lana's actions may be legal, they raise concerns about the potential consequences of sharing software with others without fully understanding the implications of doing so.
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demonstrate with the aid of a diagram the effect of opening
trade on a competitive industry with external economies ? (20
marks)
Opening trade can have a significant impact on a competitive industry with external economies. External economies refer to the benefits that a firm or industry receives from factors outside of its control, such as the presence of a skilled labor force or a well-developed infrastructure.
To demonstrate the effect of opening trade on such an industry, we can use a diagram. Consider a competitive industry with a downward-sloping demand curve and an upward-sloping supply curve. Initially, without trade, the industry operates at a domestic equilibrium point where quantity supplied equals quantity demanded.
When trade is opened, firms in the industry can now access a larger market and benefit from economies of scale. This results in an outward shift of the supply curve, indicating increased production and lower average costs. As a result, the equilibrium price decreases, and the quantity supplied increases. Consumers also benefit from lower prices.
In the diagram, the new equilibrium point represents the industry after trade. The lower price and increased quantity supplied demonstrate the positive impact of opening trade on a competitive industry with external economies. This is because trade allows firms to expand their operations, achieve economies of scale, and lower production costs, ultimately benefiting both producers and consumers.
In summary, opening trade can lead to lower prices, increased production, and improved efficiency in a competitive industry with external economies. This diagram visually depicts the positive effects of trade on such an industry.
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ramona decides to spend two hours taking a nap rather than attending her classes. her opportunity cost of napping is
ramona decides to spend two hours taking a nap rather than attending her classes. her opportunity cost of napping is The value of knowledge she would have received had she attended class.
What is opportunity cost?The value of the next-highest-valued alternative use of a resource is what economists mean when they talk about its "opportunity cost." You cannot, for instance, read a book at home during the time you would have spent seeing a movie and spend the money you would have spent on something else.
In economics, the word "opportunity cost" refers to the benefits that are forgone while selecting one course of action over another. It is, in essence, the worth of the path not traveled. Opportunity costs are simple to ignore, yet comprehending wasted possibilities is essential to making smarter business decisions.
Thus, The value of knowledge she would have received had she attended class.
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The complete question is given below-
Ramona decides to spend two hours taking a nap rather than attending her class. her opportunity cost of napping is __________. the value of the knowledge she would have received had she attended class the value of her nap minus the value of attending class the $24 she could have earned if she had worked at her job for those two hours nothing, since she valued sleep more than attendance at class.
what is marketing
please answer if u know,i will mark brainiest
Answer:
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company.
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Which education degree (s) does a Guidance Counselor usually hold?
has a master’s degree, but some could have a doctorate or bachelor’s degree.
has a doctorate degree, but some could have a master’s or bachelor’s degree.
has a bachelor’s degree, but some could have a master’s degree.
has a master’s degree, but some could have a doctorate degree.
The education degree (s) does a Guidance Counselor usually hold is: has a bachelor's degree, but some could have a master's degree.
Who is a guidance Counsellor?Guidance counselors can be defined as the person whose responsibility or duty is to help councel or advice people and to as well guide people.
A Guidance counselors must be a bachelor's degree holder and must also have master's degree.
Therefore the education degree (s) does a Guidance Counselor usually hold is: has a bachelor's degree, but some could have a master's degree.
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What is one method that helps control online fraud? O A. Deleting odd emails before reading B. Reporting odd emails to police • C. Reporting odd emails as spam • D. Signing into email in many locations
Answer: C. Reporting odd emails as spam
Explanation:
Strategic planning looks beyond day-to-day activities and focuses on a horizon that is ____ years in the future.
Strategic planning looks beyond day-to-day activities and focuses on a horizon that is typically 3 to 5 years in the future.
Strategic planning involves setting long-term goals, objectives, and action plans to guide an organization towards its desired future state. It takes into account external factors such as market trends, competition, and technological advancements, as well as internal strengths and weaknesses. The time horizon for strategic planning varies depending on the industry, organizational context, and specific goals, but it commonly spans 3 to 5 years.
The time horizon for strategic planning is determined based on several factors, including the industry's rate of change, the organization's capacity for long-term forecasting, and the desired level of flexibility. A typical range of 3 to 5 years allows organizations to strike a balance between forward-looking vision and practicality.
Strategic planning focuses on a future horizon that extends beyond day-to-day activities. By considering the broader context and anticipating potential changes, organizations can develop strategies and allocate resources to achieve their long-term objectives. The 3 to 5-year time frame provides a reasonable outlook for strategic planning, allowing organizations to adapt to evolving market dynamics while maintaining a clear sense of direction.
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To examine
the weekly payroll of all employees, one would look at the:
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
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What store do you think has this?
Winner receives: 20 points
Read the scenario.The federal government announced significant tax cuts, enabling people to keep a greater portion of their income.What will happen to the demand curve in this situation
In the given scenario, the federal government has announced significant tax cuts, enabling people to keep a greater portion of their income. The question is: What will happen to the demand curve in this situation?
When tax cuts are implemented, individuals will have more disposable income. This increase in disposable income leads to an increase in purchasing power, which subsequently affects the demand curve. The demand curve is a graphical representation of the relationship between the price of a product and the quantity demanded by consumers at different price levels.
In this situation, the demand curve will shift to the right, indicating an increase in demand for goods and services. This shift occurs because consumers have more disposable income and are willing to spend more on products, thus increasing the quantity demanded at each price level.
The rightward shift in the demand curve may also lead to a higher equilibrium price and quantity for certain goods and services, depending on the price elasticity of demand. If the demand for a particular good or service is relatively elastic, the increase in demand may lead to a greater increase in quantity demanded than the increase in price. Conversely, if the demand is relatively inelastic, the increase in demand may lead to a greater increase in price than the increase in quantity demanded.
In summary, when the federal government announces significant tax cuts, the demand curve will shift to the right due to the increase in disposable income, leading to higher demand for goods and services. The effect on the equilibrium price and quantity depends on the price elasticity of demand for each good or service.
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Geoff's fiancée, Susan, comes to meet his parents for the weekend. On Saturday morning, while using Geoff's mother's hair dryer, the blower short-circuits sending sparks across the guest room. Susan's angora sweater and her hands are covered with tiny burns. Susan's mother is a lawyer and wants her to sue the seller of the dryer for breach of warranty. Can she?
Answer:
Yes, since she is a guest in the home of the buyer, the warranties would extend to her in most states.
Explanation:
Warranty
This is simply known as a type of duty or statement of other representation that is made by the seller or places by law on goods and services mainly concerning the aspect of quality, characteristics, strength and ownership of goods and services. It is often regarded also as a duty or obligation of the seller to the buyer in terms of title, quality, characteristics, or conditions of goods.
Types of warranty
1. Express Warranty
2. Implied Warranty of Title
3. Implied Warranty of Merchantability
4. Implied Warranty of Fitness for a Particular Purpose
Express Warranty
This is simply refered to as the description of the goods that is made part of the basis of the negotiation does bring about an express warranty that the goods will adhere to the description or defined it as an agreement of fact or promise in relation to the goods that becomes part of reasons of negotiation therefore brings about express warranty that goods will adhere to 3 things mainly:
1. Affirmation of Fact
2. Description
3. Sample or model
Which elements do you think need to go in a fire prevention plan?
O Means of reporting fires and other emergencies
O Evacuation procedures and emergency escape route assignments
O Procedures for employees who remain to operate critical plant operations before they evacuate
O Vacation schedules for all employees
O Accounting for all employees after an emergency evacuation has been completed
O Rescue and medical duties for employees performing them
O Names or job titles of persons who can be contacted
Locations of supply closets
Answer:
I. Means of reporting fires and other emergencies.
II. Evacuation procedures and emergency escape route assignments.
III. Procedures for employees who remain to operate critical plant operations before they evacuate.
IV. Accounting for all employees after an emergency evacuation has been completed.
V. Rescue and medical duties for employees performing them.
VI. Names or job titles of persons who can be contacted.
Explanation:
Firefighting can be defined as a strategic approach or technique which typically involves the process of attempting to prevent and control the spread of an unwanted fire in buildings, vehicles or any other location (place).
Basically, the professionals or experts who are saddled with the responsibility of preventing or controlling this unwanted fire are known as fire fighters.
A fire prevention plan can be defined as a strategic framework or model which comprises of all the necessary actions to take in order to prevent fire in a particular location.
The elements that would need to go in a fire prevention plan includes;
I. Means of reporting fires and other emergencies.
II. Evacuation procedures and emergency escape route assignments.
III. Procedures for employees who remain to operate critical plant operations before they evacuate.
IV. Accounting for all employees after an emergency evacuation has been completed.
V. Rescue and medical duties for employees performing them.
VI. Names or job titles of persons who can be contacted.
Answer:
1,2,3,5,6,7
Explanation:
OSHA
an employer’s accounting for a defined benefit pension plan is based on the assumption that such a plan is part of an employee’s compensation, and that the compensation expense is incurred when the
An employer's accounting for a defined benefit pension plan is based on the assumption that such a plan is part of an employee's compensation, and that the compensation expense is incurred when the employee earns the pension benefit through their years of service.
This means that the employer recognizes the cost of providing the pension benefit over the employee's working years, rather than waiting until retirement to recognize the expense.
This is because the employer has a legal obligation to provide the pension benefit and the employee has earned the benefit through their service, so it is considered a part of their overall compensation package.
The employer must calculate the present value of the future pension payments and make contributions to the pension plan to ensure there are enough assets to cover the future benefit payments.
Proper accounting for defined benefit pension plans is important to ensure that both the employer and the employees understand the true cost of the benefit and that the plan is adequately funded for future payments.
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How do plants obtain the water required for photosynthesis?
Answer:
from their roots
Explanation:
the roots dig into the ground and absorb water for the plant
Answer:
they obtain their water from the roots of the plant and roots take the water from the soil.
Kaylee's refrigerator suddenly breaks down. It's old and would be expensive to repair, so she decides to buy a new one. Kaylee chooses a refrigerator with a 12-month, no-interest financing offer. The sales agreement lists the sale price, the amounts and dates of payments, the APR that will apply if Kaylee doesn't pay off the refrigerator in 12 months, and a lot of other information. The law that requires sellers to provide this information to purchasers is
Kaylee's refrigerator suddenly breaks down. It's old and would be expensive to repair, so she decides to buy a new one. The law that requires sellers to provide this information to purchasers is "The Truth-in-Lending Act". This is further explained below.
What is The Truth-in-Lending Act?Generally, In 1968, Congress passed and President Nixon signed the Truth in Lending Act (TILA) to protect customers from dishonest lenders.
In conclusion, Kaylee's fridge has broken down unexpectedly. Being too old and costly to fix, she opts to replace it instead. The "Truth-in-Lending Act" is the piece of legislation that mandates vendors provide this data to buyers.
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What should you, the worker, be aware of with regard to evacuation procedures at your workplace?
(select two answers)
(a) when you get back into the building
(b) evacuation plans
(c) what to do when the emergency has passed
(d) how long the emergencies will last
With regard to evacuation what one has to be aware of would be
evacuation planshow long the emergencies will lastWhat is meant by evacuation?This is the term that is used to refer to all that would have to be done in order to get all the occupants of a building out of it due to an emergency that is occurring in the building. The need for evacuation is often due to emergency that could cause a loss of life. An example of such incidence would during a fire outbreak.
Hence we can say that With regard to evacuation what one has to be aware of would be
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Assume all markets are in long-run equilibrium. The market quantity supplied in a duopoly would be ________ the market quantity supplied in a monopoly and ________ the market quantity supplied in a competitive market. a. less than or equal to; less than or equal to b. less than or equal to; greater than or equal to c. less than; equal to d. greater than; equal to e. greater than or equal to; less than or equal to
Answer:
greater than or equal and less than or equal
Explanation:
We assume that all the market belong from long run equilibrium.So the quantity supplied of the market in a duopoly should be either greater or equivalent to the quantity supplied of the market in the monopoly and it should be less or equivalent to the quantity supplied of the market in the competitive market as it is the under competitive market where P = mc
And, under monopoly, there is the condition of the profit maximiation i.e. MR = MC
A travel company sells tours in Costa Rica on its website. Instead of designing the website themselves, the company hired an outside software development company to design, run, and manage the website for them. This is an example of Multiple choice question. accessing capabilities through a collaborative partnership. matching organizational structure to strategy. acquiring capabilities through mergers and acquisitions. internal development.
a. Explain the definition of interim payment.b. All contents in a contract describes rights and obligations of parties under the contract. Those contents can be in
a. Interim payment: Partial payment made during a project before its completion to cover ongoing expenses and maintain cash flow.
b. Contents in a contract: Provisions in a contract that outline the rights and obligations of the parties involved.
Interim payment refers to a partial payment made to a contractor or subcontractor during the course of a project. It ensures that the contractor has sufficient funds to cover expenses and maintain cash flow while the project is still ongoing. Interim payments are typically based on the progress or work completed at a specific stage of the project.
The contents of a contract include all the provisions and terms that define the rights and obligations of the parties entering into the contract. These provisions can cover various aspects such as scope of work, payment terms, delivery schedules, warranties, dispute resolution mechanisms, and other relevant contractual terms. The purpose of including these contents in a contract is to establish a clear understanding between the parties, ensure compliance with agreed-upon terms, and provide a legally binding framework for the execution of the contract.
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When you identify use cases, it is important to keep all related transactions separate. T/F
True. Identifying use cases involves analyzing the different transactions or actions that users may perform within a system.
To ensure clarity and accuracy, it is important to keep all related transactions separate and distinct from each other. This helps to avoid confusion and ensures that each transaction is properly defined and understood.
Additionally, separating related transactions can help to identify potential conflicts or issues that may arise when multiple transactions are performed simultaneously.
Overall, keeping related transactions separate is a key component of effective use case identification.
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Blossom Company is considering an investment that will return a lump sum of $850,000 3 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Blossom Company pay for this investment to earn an 6% return? (Round answer to 2 decimal places, e.g. 25.25.)
Ale jak się okazało w Polsce dniu narty nie skierowane to dniu tym świecie i jest ogóle nie ma problemu z tym że nie ma przecieku co w wszystko jutrzejszym terminie
The bank received and accepted a payment worth $7,200 from a customer on the company’s behalf. Which journal entry adjustment should the accountant make?
A.
Accounts receivable will be debited by $7,200.
B.
Accounts payable will be debited by $7,200.
C.
Accounts receivable will be credited by $7,200.
D.
Accounts payable will be credited by $7,200.
Answer:
C. Accounts receivable will be credited by $7,200
Explanation:
Accounts receivable are expected payments from customers. They exist because businesses sell goods and services to customers on credit. Account receivables are asset accounts. An increase in assets accounts is debited, and a decrease is credited.
If the banks received payment from a customer, it means a customer has paid for goods sold on credit. Accounts receivable have decreased ( to be credited), but cash in the bank has increased.
Kimberly is responsible, worthy of trust, and consistent in her performance at work. Her employers know that they can count on her. Kimberly demonstrates _____.
initiative
dependability
time management
conflict resolution
Answer:
dependability
Explanation:
When others can rely on you, it shows you are dependable. Dependability is a state where others trust a particular person will deliver. It is convincing others to have full confidence in you and your abilities.
Through previous actions, Kimberly has demonstrated that her employers can rely on her entirely. She has convinced her employers without any doubts that they can depend on her.
Which of the following statements is most true of order-getting salespeople?
A They seek out possible buyers and use an organized, creative
approach to present messages.
B. They call on buyers further down the marketing channel than their
company's own customers.
C. They focus on completing sales accurately and courteously.
D. Their role is a less expensive kind of selling than order taking.
Answer:they seek out possible buyers and sue an organized creative approach to present messages
Explanation:
The following statements are most true of order-getting sales people They seek out possible buyers and use an organized, creative. Thus option (A) is correct.
What is Sales?
A sale is an agreement between a buyer and a seller in which the seller exchanges money for the sale of tangible or intangible products, assets, or services. There are two or more parties involved in a sale. A sale, or a contract between two or more parties, such as the buyer and seller, can be thought of in larger terms.
The following statements are most true of order-getting salespeople They seek out possible buyers and use an organized, creative.
Therefore, Thus option (A) is correct.
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Mr. Michaluk has a $50,000 personal (revolving) line of credit with the Canadian Imperial Bank of Commerce (CIBC). The loan is on a demand basis at a floating rate of prime plus 1.5%. On the fifteenth of each month, a payment equal to the greater of $100 or 3% of the combined principal and accrued interest is deducted from his chequing account. The principal balance after a payment on September 15 stood at $23,465.72.
Prepare the loan repayment schedule from September 15 up to and including the payment on January 15. Assume that he makes the minimum payments and the prime rate remains at 5.25%. (Round your final answers to 2 decimal places.)
The loan repayment schedule from September 15 up to and including the payment on January 15 is as follows:
September 15 payment: $100.October 15 payment: $704.85. November 15 payment: $706.18. December 15 payment: $707.52. January 15 payment: $708.86
To calculate the loan repayment schedule, we need to determine the monthly interest and the minimum payment for each month.
The monthly interest is calculated as the principal balance multiplied by the interest rate. Since the interest rate is prime plus 1.5%, we add 1.5% to the prime rate of 5.25%. Therefore, the monthly interest rate is 6.75% (5.25% + 1.5%).
The minimum payment is the greater of $100 or 3% of the combined principal and accrued interest. We will calculate the combined principal and accrued interest for each month and then determine the minimum payment.
Here is the repayment schedule:
September 15:
Principal balance: $23,465.72
Monthly interest: $23,465.72 × 6.75% = $1,584.26
Combined principal and accrued interest: $23,465.72 + $1,584.26 = $25,050.98
Minimum payment: $100
October 15:
Principal balance: $25,050.98 - $100 = $24,950.98
Monthly interest: $24,950.98 × 6.75% = $1,681.33
Combined principal and accrued interest: $24,950.98 + $1,681.33 = $26,632.31
Minimum payment: $26,632.31 × 3% = $798.97 (greater than $100)
November 15:
Principal balance: $26,632.31 - $798.97 = $25,833.34
Monthly interest: $25,833.34 × 6.75% = $1,744.50
Combined principal and accrued interest: $25,833.34 + $1,744.50 = $27,577.84
Minimum payment: $27,577.84 × 3% = $827.34 (greater than $100)
December 15:
Principal balance: $27,577.84 - $827.34 = $26,750.50
Monthly interest: $26,750.50 × 6.75% = $1,805.64
Combined principal and accrued interest: $26,750.50 + $1,805.64 = $28,556.14
Minimum payment: $28,556.14 × 3% = $856.68 (greater than $100)
January 15:
Principal balance: $28,556.14 - $856.68 = $27,699.46
Monthly interest: $27,699.46 × 6.75% = $1,868.21
Combined principal and accrued interest: $27,699.46 + $1,868.21 = $29,567.67
Minimum payment: $29,567.67 × 3% = $887.03 (greater than $100)
The loan repayment schedule from September 15 up to and including the payment on January 15 consists of monthly payments as follows:
September 15: $100. October 15: $704.85. November 15: $706.18. December 15: $707.52. January 15: $708.86
These payments are calculated based on the minimum payment requirement, considering the principal balance, monthly interest, and the greater of $100 or 3% of the combined principal and accrued interest.
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Write a three sentence objective stating what you “bring to the table” and why you are applying for a job at XYZ Manufacturing and Construction.
Answer:
Skill
Willingness to learn/teach
Enthusiasm for the job and ways to improve it
Explanation:
Dear Manager
I am writing a letter to state that I would like to apply for the position that you are offering at the Manufacturing and construction company.
I am skilled in the craft as I earned my degree in the subject area and had been working in the same are for the last 10 years. In addition to that I am always willing to learn new ways and apply the newest technology that is most beneficial to us as well as teach the lot what I have learned thus far. Finally, I am willing to put myself in the job wholeheartedly and help solve problems that may arise. I will work with due diligence and I will not waiver.
Regards
New Worker
If the economy is at a point on the short-run Phillips Curve such as point c3, firms and workers will ____, allowing the economy to move toward the long-run Phillips Curve
The firms and workers will adjust their inflation expectations upward at at a point on the short-run Phillips Curve and thus. allowing the economy to move toward the long-run Phillips Curve.
What is the short-run Phillips Curve?As the Phillips curve is a graphic representation that depict the relationship between the rate of unemployment and rate of change of money wages, the short-run graph will show that in the short-term, there is a tradeoff between inflation and unemployment.
However, when the economy is a point on the short-run Phillips Curve, decision may be made by firms and workers to adjust their inflation expectations upward and this will allow the economy to move toward the long-run Phillips Curve.
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What do the ending balances of permanent accounts for one fiscal period represent at the beginning of the next fiscal period?.
The ending balances of permanent accounts represent the beginning balances of such accounts for the following fiscal period.
What is fiscal period ?A fiscal period, also known as a fiscal year, is a 12-month period in which a business entity accounts for all transactions and events involving that company. The 12-month period does not always correspond to the calendar year, or January 1st to December 31st.A fiscal year is when a company accounts for all of its occurrences over the course of a year. Typically, businesses base their year on the calendar year. Because taxes are always calculated by the calendar year, this simplifies tax calculation.Companies use the fiscal period concept because it is easier to calculate financials if the company's financials resemble the company's natural business cycle.Many annual government fees are levied on a fiscal year basis, such as council tax and licence fees, but others are charged on an anniversary basis.To learn more about fiscal period refer :
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Morning light does not enter the swamp. Even the sunrise is dark. Still, time progresses, night into day
A picture of bayou country is deceiving Slow streams converge under mud to make the appearance of land that is actually water. One net of moss hangs from one hundred trees. Lightning strikes the
same stump many times.
People pass the swamp's fringes in trains, on tracks that cling to the last solid ground. Out of their windows are landscapes that take the earth's colors to every periphery, Bright orange sunsets
surround people like sky on an airplane. On gray foggy mornings they ride through a dream that has no beginning or end. But time has its limits, these people know. They are expected places--Memphis
by midnight, New Orleans by dawn
Deep in the swamp, animals keep the only appointments Birds gather at high places in trees. Raccoons make their last noisy passes for food across someone's back porch before he awakes. Fish all
around splash up, although they cannot see the morning coming to clean the picture of day like clothes bleaching in a galvanized tub from dark gray to light gray
Joan looked out from the porch to the swamp she had known all her life. Ahead of her in the veiled light were the outlines of many trees. Below and around her were the crisp sounds of nature
awakening Cupped in both hands, perched on her knees was a warm mug of coffee.
Which of the following can the reader infer from the passage above?
O Travelers sleep throughout the journey.
O The ride is for airplane passengers to see the sky.
O Travelers lose their sense of the outside world.
Answer:
Travelers lose their sense of the outside world.
Explanation:
Study Island
all of the following are examples of cash inflows except: a) income taxes b) asset salvage value c) operating cost reduction d) construction cost savings
All of the following are examples of cash inflows construction cost savings.
What are cash inflows?A cash flow is a physical or fictitious transfer of funds; in its most basic form, it refers to a transfer of funds, particularly from one central bank account to another.
All such actions that lead to the firm receiving money coming into the business are referred to as cash inflows. Determining the effect of cash on various sorts of cash inflows and outflows is the primary goal of the cash flow statement.
Payments from customers, investment gains, and interest on loans you have made to another firm are all examples of cash influx.
The quantity of cash entering and leaving your organisation over a specific time period is known as cash flow. Because it enables you to both meet your current financial responsibilities and make plans for the future, cash flow is crucial. However, small enterprises frequently face difficulties with cash flow.
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On january 6, wildhorse co. sells merchandise on account to harley inc. for $7,500, terms 1/10, n/30. on january 16, harley pays the amount due. Prepare the entries on Wildhorse Co s books to record the sale and related collection.
On January 6, Wildhorse Co. would record the sale by debiting Accounts Receivable for $7,500 and crediting Sales Revenue for $7,500.
On January 16, when Harley Inc. pays the amount due, Wildhorse Co. would first apply the discount offered for early payment by debiting Cash for $7,372.50 ([$7,500 - ($7,500 x 0.01)]) and crediting Accounts Receivable for $7,500 and Sales Discounts for $127.50 ([$7,500 x 0.01]). If the payment had been received after the discount period had passed, Wildhorse Co. would have simply debited Cash for $7,500 and credited Accounts Receivable for $7,500.
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