The document that authorizes the supplier to produce, ship the item, and send the invoice to the buyer is called the ______.
A. supplier invoice
B. purchase order
C. production order
D. delivery order
B. purchase order
You might also like to view...
A retailer offers a revolving credit account to its customers; interest is charged at 18 percent per year
If a customer buys $400 in merchandise in November and carries the total balance over for one month, how much must the customer remit to pay the account in full? a. $400 b. $403 c. $406 d. $409
Matt is preparing headings for a report he is writing. What is the best advice you can give him as he creates his headings?
A) Include end punctuation in all headings for clarity. B) Underline all headings. C) Include at least one heading per report page. D) Matt should do all of these.
A firm's total asset turnover increased from 0.75 to 0.90. Which of the following is true about the given data?
A) The firm is generating more dollars of sales per dollar of assets now than it was before. B) The firm is generating fewer dollars of sales per dollar of assets now than it was before. C) By cutting back on assets, the firm runs the risk of creating problems like inventory stockouts and production delays. D) The firm's stock price will go up because it is using asset more efficiently.
On January 1, a company lends a customer $90,000 for one year at a 7% annual interest rate. The note requires the payment of interest twice each year on June 30 and December 31. An adjusting entry to accrue interest is recorded at the end of every month. On July 2, a check for the interest payment for January through June comes in the mail. What journal entry will the company record on July 2?
A. Debit Cash for $3,150 and credit Interest Receivable for $3,150. B. Debit Interest Receivable for $3,150 and credit Interest Revenue for $3,150. C. Debit Interest Revenue for $3,150 and credit Cash for $3,150. D. Debit Cash for $3,150 and credit Notes Receivable for $3,150.