When a snow blower shop offers a price reduction to customers who buy during the spring and summer, the shop is giving a(n) ________ discount
A) functional
B) seasonal
C) annual
D) trade
E) allowance
B
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Tomkin Library System issues $5 million in bonds on January 1, 2021 that pay interest semi-annually on June 30 and December 31. A portion of the bond amortization schedule appears below:DateCash PaidInterest ExpenseDecrease in Carrying ValueCarrying Value01/01/2021 $5,500,000 06/30/2021$250,000 $220,000 $30,000 5,470,000 12/31/2021 250,000 218,800 31,200 5,438,800 What is the total cash paid for interest assuming the bonds mature in 7 years?
A. $5,000,000. B. $8,500,000. C. $5,500,000. D. $3,500,000.
At the beginning of 2019, Elliott Company has the following account balances:
Accounts Receivable $44,000 (debit balance) Allowance for Bad Debts $5000 (credit balance) Bad Debts Expense $0 During the year, credit sales amounted to $850,000. Cash collected on credit sales amounted to $790,000, and $16,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%. The ending balance in the Allowance for Bad Debts is ________. A) $5000 B) $5250 C) $8750 D) $10,250
Executive branch regulatory agencies are located in cabinet departments
a. True b. False Indicate whether the statement is true or false
An assignor is bound by any express warranties he makes to the assignee with respect to the right assigned
Indicate whether the statement is true or false