At flounder company, the following errors were discovered after the transactions had been journalized and posted. prepare the correcting entries. 1. a collection on account from a customer for $1,000 was recorded as a debit to cash $1,000 and a credit to service revenue $1,000. 2. the purchase of store supplies on account for $1,160 was recorded as a debit to supplies $1,510 and a credit to accounts payable $1,510.

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Quick computing currently sells 12 million computer chips each year at a price of $19 per chip. it is about to introduce a new chip, and it forecasts annual sales of 22 million of these improved chips at a price of $24 each. however, demand for the old chip will decrease, and sales of the old chip are expected to fall to 6 million per year. the old chips cost $10 each to manufacture, and the new ones will cost $14 each. what is the proper cash flow to use to evaluate the present value of the introduction of the new chip? (enter your answer in millions.)

Which of the following best describes the advantage of living in a suburban area? a. suburbs give people access to city jobs along with more living space. b. suburbs give people easy access to cultural attractions and high-paying jobs. c. suburbs have the widest availability of low-cost housing of any living area. d. suburbs have the lowest population density of any living area.