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Question 1: BSA Company annual sales is more than P5 million and uses special journals. What amounts will reflect in the cash receipts journal when P285,000 list price, less 3% cash discount, VAT inclusive, is sold to customer?
Option 1: Debit Cash P276,450; Debit Sales Discount P8,550; Credit Output VAT P29,619.64; Credit Sales P255,380.36.Option 2: Debit Cash P276,450; Debit Sales Discount P8,550.00; Credit Sales P285,000Option 3: Debit Cash P276,450; Credit Output VAT P29,619.64; CreditSales P246,830.36.Option 4: Debit Cash P276,450; Debit Sales Discount P8,550; Credit Input VAT P29,619.64; Credit Sales P255,380.36.45.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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