Sheffield Corp. sells merchandise on account for $2700 to Morton Company with credit terms of 2/10, n/30. Morton Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Sheffield Corp. make upon receipt of the check?

a. Cash 2100 Accounts Receivable 2100
b. Cash 2058 Sales Returns and Allowances 642 Accounts Receivable 2700
c. Cash 2058 Sales Returns and Allowances 600 Sales Discounts 42 Accounts Receivable 2700
d. Cash 2646 Sales Discounts 54 Sales Returns and Allowances 600 Accounts Receivable 2100

The next dividend payment by savitz, inc., will be $2.08 per share. the dividends are anticipated to maintain a growth rate of 6 percent forever. if the stock currently sells for $42 per share, what is the required return?

If his parents cannot alex with college, and two of his scholarships will be awarded to other students if he does not accept them immediately, which is the best option for him?

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)