Effective ________ exchange promotes the development of good integrative solutions.
Fill in the blank(s) with the appropriate word(s).
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Hardin Co. purchased $1,000,000 of 4% bonds of West in Co. at face value on January 1, 2018. The bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2022. Hardin intends to hold the Westin bond investment until maturity and has the ability to do so.
1. Journalize Hardin's transactions related to the bonds for 2018. Omit explanations. 2. Journalize the entry that Hardin will make on the maturity date of the Westin Co. bonds. Assume the last interest payment has already been recorded. Omit explanations.
The allowance for uncollectible accounts is necessary because
a. a liability results when a credit sale is made. b. when recording uncollectible accounts expense, it is not possible to predict specifically which accounts will not be collected. c. management should know how many credit losses have been sustained over the years. d. uncollected accounts that are written off must be accumulated in a separate account.
________ refers to the standard that establishes the amount each salesperson should sell and how sales should be divided among the company's products
A) Conditional sale B) A bill of sale C) A sales quota D) Prospecting E) Satisficing
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $48,000 2) borrowed $29,000 from its bank 3) provided consulting services for $46,000 4) paid back $19,000 of the bank loan 5) paid rent expense for $11,000 6) purchased equipment costing $16,000 7) paid $3400 dividends to stockholders 8) paid employees' salaries, $25,000 What is Yowell's net income?
A. $10,000 B. $3400 C. $44,600 D. $19,000