Reference no: EM131979494
Question - Hankco accepts all major bank credit cards, including Omni Bank's, which assesses a 4% charge on sales for using its card.
On June 28, Hankco had $3,300 in Omni Card credit sales. What entry should Hankco make on June 28 to record the deposit?
Debit Cash $3,300; credit Sales $3,300.
Debit Cash $3,168; debit Credit Card Expense $132; credit Sales $3,300.
Debit Cash $3,432; credit Credit Card Expense $132; credit Sales $3,300.
Debit Accounts Receivable $3,300; credit Sales $3,300.
Debit Accounts Receivable $3,168; debit Credit Card Expense $132; credit Sales $3,300.
Meaning of nominal interest rate and real interest rate
: Consider how to explain the meaning of nominal interest rate and real interest rate. How are they related?
|
What is the maturity value of the note on march
: On November 1, Carter Company signed a 120-day, 12% note payable, with a face value of $10,800. What is the maturity value of the note on March
|
Foreign aid in relation to economic development
: Proponents and opponents agree that foreign aid has been less successful than hoped.
|
Describing some advantages and drawbacks of process
: What is a brief paragraph summarizing how U.S. presidential races work, including party nominations campaigns, and general elections.
|
What entry should hankco make on june to record the deposit
: On June 28, Hankco had $3,300 in Omni Card credit sales. What entry should Hankco make on June 28 to record the deposit
|
Political economic development
: What is the meaning of "limited access social order" and "open access social order" in a political economic development context?
|
About the perpetual cash flows
: What is the value of an investment that pays $20,000 every other year forever, What is the value today if the first payment occurs four years from today?
|
Determine the amount of depreciation to be charged
: Determine the amount of depreciation to be charged against the machine during each of the remaining years of its useful life
|
How is marginal cost determined in economics
: Question: How is marginal cost determined in Economics and how is maximum profit calculated?
|