FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 30 2 Points In January 2019, Orange Co. sells a gift card for $60 and receives cash. What would be the appropriate journal entry

image text in transcribed
Question 30 2 Points In January 2019, Orange Co. sells a gift card for $60 and receives cash. What would be the appropriate journal entry for this event? A Debit Cash $60; credit Sales Revenue, $60. B Debit Cash, $60; credit Deferre Revenue, $60. Debit Sales Revenue, $60; credit Cash, $60. O No journal entry is necessary

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

College Accounting A Practical Approach

Authors: Jeffrey Slater, Debra Good

14th Canadian Edition

0135222419, 978-0135222416

More Books

Students also viewed these Accounting questions

Question

★★★★★
Record the following transactions in general journal form on the books of the seller (Fuentes Company) and then on the books of the buyer (Lowe Company) using the periodic inventory system. Fuentes...

Answered: 1 week ago

Question

★★★★★
10 in.? A drop of 15 in.? d. Suppose .025 and consider a pressure drop of 10 in. What is the probability that the observed value of flow rate will exceed .835? That observed flow rate will exceed...

Answered: 1 week ago

Question

★★★★★
Faye asks George to select a nonnegative integer less than 1000. Assuming that George selects this number completely at random, the probability that this number has at least one digit equal to 2 is...

Answered: 1 week ago

Question

★★★★★
Eurotronics is a European manufacturer of electronic components. During the course of a year, it requires container cargo space on ships leaving Hamburg bound for the United States, Mexico, South...

Answered: 1 week ago

Question

★★★★★
Intel ( INTC:NASDAQ ) pays $ 1 dividend ( sum of quarterly dividends ) with a forecasted dividend growth of 5 % and required rate of return of 8 % . What is the fair stock price using dividend growth...

Answered: 1 week ago

Question

★★★★★
Problem 1-23 Cost Classification [LO1-1, LO1-3, L01-4] Listed below are costs found In varlous organizations Required For each cost Item, Indicate whether It would be variable or fixed with respect...

Answered: 1 week ago

Question

★★★★★
1. Imagine that you are the chief executive or equivalent in a company which has operations across the globe, and that you plan to introduce best practice supply chain management into the...

Answered: 1 week ago

Question

★★★★★
28. A Veteran is feeling ill on vacation and wants to be seen at the Orlando VA. The veteran currently receives care at the VA in Jackson, MD. When the Veteran arrives at the

Answered: 1 week ago

Question

★★★★★
Community Hospitals provide medical services for patients who require a short period of continuation of care, usually after their discharge from the acute hospitals. The types of care at the...

Answered: 1 week ago

Question

★★★★★
Stock price: $200 Exercise (Strike) price: $200 The stock price will either rise to $300 or fall to $125 at the end of one year. Risk free rate: 4% annual Option life: 6 months CALL OPTION=$44.24 1....

Answered: 1 week ago

Question

★★★★★
SR Company manufactures two types of Computers, CX1 and CX2. The labour rates per hour for design is $75 per hour while for that of testing and inspection is $40 per hour Other information on each...

Answered: 1 week ago

Question

★★★★★
Has your organisation defined its purpose, vision and mission?

Answered: 1 week ago

Question

★★★★★
Have you distinguished between in-process measurements and real outcomes?

Answered: 1 week ago

Question

★★★★★
What is employer branding? How might employer branding affect a companys ability to recruit?

Answered: 1 week ago

Previous Question Next Question