Explanation:
The journal entry is shown below:
Cash A/c Dr $1,372
Sales Returns and Allowances A/c Dr $600
Sales Discounts A/c Dr $28
To Accounts Receivable A/c $2,000
(Being the cash is received)
The computation is shown below:
For sales discount
= (Sales value of merchandise - returned goods) × discount rate
= ($2,000 - $600) × 2%
= $28
And, the remaining balance is debited to the cash account
Answer: d. All of these choices are correct.
Explanation:
The Distributable Net income is the taxable income acquired by a person who is a beneficiary to a trust from that trust. It is therefore the maximum amount that they should report for taxation purposes when they receive distributions from their trusts.
It also specifies the character of the distribution and is the maximum amount that the fiduciary can deduct for distribution income purposes from their taxable income.
Answer: The correct answer is "B. underwrite".
Explanation: Investment bankers <u>underwrite</u> new issues of bonds or stocks by purchasing, at a discount, the entire stock or bond issue of a firm and selling the issue to interested investors at a higher price.
In this way, investment banks generate their profit, acting as a financial intermediary.
I think it’s D I don’t know if I’m wrong or right but D sounds right