The bubble concept applies to nonattainment areas
Indicate whether the statement is true or false
True
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On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is:
A.
| Accounts payable | 4,000 | |
| Merchandise inventory | 4,000 |
B.
| Merchandise inventory | 5,800 | |
| Accounts payable | 5,800 |
C.
| Purchases | 5,800 | |
| Accounts payable | 5,800 |
D.
| Merchandise inventory | 5,684 | |
| Accounts payable | 5,684 |
E.
| Purchases | 5,684 | |
| Accounts payable | 5,684 |
Rewrite the item using the singular and plural possessive. Make both nouns plural in the plural possessive. Example: desk of the secretary secretary's desk secretaries' desks video game of the boy
DigiTech Corporation pays its employees every two weeks. Eve gets her paycheck, indorses the back ("Eve Anderson"), and, on her lunch hour, goes to cash it at DigiTech's bank, First State Bank. On the street, in a crowd, she loses the check. Greg Smith finds it. Has the check been negotiated to Greg? Greg signs the back of the check beneath Eve's signature and cashes it. What might Eve have done to avoid this loss?
What will be an ideal response?
Which of the following statements about inventory control is TRUE?
A) Too little inventory may lead to opportunity costs in the form of missed sales. B) Too much inventory may reduce profitability due to increased financing and storage costs. C) Seasonality in sales may require a firm to hold different levels of inventory throughout the year. D) All of the statements about inventory control are true.