The special journal to record a cash sale is the ____________________ journal
Fill in the blank(s) with correct word
cash receipts
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New customers will be hard to find, once a market reaches ________
A) the rapid growth stage B) the early growth stage C) its lowest market potential D) its tipping point E) saturation
Graystone Company's plant operates five days per week with a daily payroll of $100,000. Employees are paid every Tuesday for the prior week's work (Monday through Friday). The last day of the month is Tuesday, April 30. What effect does the accrual at April 30 have on Graystone's net income?
A) Increase by $200,000 B) Decrease by $300,000 C) Decrease by $200,000 D) Increase by $300,000
On July 1, Shady Creek Resort borrowed $250,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30 of $37,258. What is the appropriate journal entry to record the issuance of the note?
A. Debit Notes Payable $250,000; credit Cash $250,000. B. Debit Cash $287,258; credit Interest Payable $37,258; credit Notes Payable $250,000. C. Debit Cash $250,000; debit Interest Expense $37,258; credit Notes Payable $287,258. D. Debit Cash $37,258; credit Notes Payable $37,258. E. Debit Cash $250,000; credit Notes Payable $250,000.
Tax credits are less valuable on a dollar-for-dollar basis than are tax-deductible expenses
Indicate whether the statement is true or false.