User Account

All Pages

What is the journal entry for February

Assignment Help Accounting Basics
Reference no: EM132805147

Question - On January 31, 2019, Alpha Corporation factored accounts receivables of P1,500,000 with credit terms of 1/10, n/30 immediately after shipment of the goods to the customer. The factor charges a 4% commission based on the gross amount of the receivables factored. The factor also withheld 25% of the amount factored to cover for sales returns and allowance. On February 6, 2019, the customer subsequently returned P120,000 of damaged merchandise. What is the journal entry for February 6?

Reference no: EM132805147

Questions Cloud

What is personal finance : What is personal Finance? How important the consumer protection law in relation to finance? Discuss the role of money personal, business and in the economy
Determine the impact of computerization on food service : Determine the impact of computerization on food service and lodging operations in your state, particularly in the areas of reservations
What did you learn about yourself as a leader : Complete the Emotional Intelligence Test Discuss your scores and what they mean. What did you learn about yourself as a leader? (Note that a 10 on the EI test).
Preplanning activities prior to conducting passive scan : Describe all preplanning activities prior to conducting the passive scan on the target site.
What is the journal entry for February : The factor charges a 4% commission based on the gross amount of the receivables factored. What is the journal entry for February 6
What is meant by marketing math in pricing : What is meant by marketing math in pricing? Discuss the significance of marketing math in overall marketing success. Provide an example that supports your ideas
How you would apply cqi in your current or past position : Continuous quality improvement (CQI) is the responsibility of all nurses and is vital when addressing the challenges of the health care industry.
What is the yield : What is the yield if the coupon rate is 6.5%, and the bond price is $5,768.58? Assume semi-annual compounding and the bond having a face value of $5,000
Discuss two challenges facing global marketing leaders : Explain two challenges facing global marketing leaders. Explain the impact and provide at least one strategy to address and tackle each challenge identified.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

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

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd