Presented below is information from perez computers incorporated. sold $20,000 of computers to robertson company with terms 3/15, n/60. perez uses the gross method to record cash discounts. perez received payment from robertson for the full amount owed from the july transactions. sold $200,000 in computers and peripherals to the clark store with terms of 2/10, n/30. the clark store paid perez for its purchase of july 17. prepare the necessary journal entries for perez computers.

At april 1, 2019, the food and drug administration is in the process of investigating allegations of false marketing claims by hulkly muscle supplements. the fda has not yet proposed a penalty assessment. hulkly’s fiscal year ends on december 31, 2018. the company’s financial statements are issued in april 2019. required: for each of the following scenarios, determine the appropriate way to report the situation. 1. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 2. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is probable. 3. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 4. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is probable.

On april 1, the cash account balance was $46,220. during april, cash receipts totaled $248,600 and the april 30 balance was $56,770. determine the cash payments made during april.

What is the relationship between credit and debt?