In 2014, orear manufacturing signed a contract with a supplier to purchase raw materials in 2015 for $700,000. before the december 31, 2014 balance sheet date, the market price for these materials dropped to $510,000. the journal entry to record this situation at december 31, 2014 will result in a credit that should be reported: a. as a valuation account to inventory on the balance sheet. b. as a current liability. c. as an appropriation of retained earnings. d. on the income statement.

a. as a valuation account to Inventory on the balance sheet

Explanation:

The inventory write-down could be done through the balance sheet or the income statement, it depends of the total amount of the adjustment.

If it's a small adjustment, the company make a credit adjustment to the inventory accounts and a  debit to the cost of goods sale in the income statement.

But if the adjustment is larger it's necessary to reduce the value of the inventories through the balance sheet with a debit in an account such as “write-down damaged goods.”

b. take periodic breaks and alternate between tasks.  

will increase work efficiency, and avoid health issues.

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.