A motorcycle dealership has the following parts in stock: 100 tires at a cost of $50 each, 30 batteries at a cost of $80 each and 20 helmets at a cost of $100 each. The business uses a perpetual inventory system. If 10 tires are sold for $70 each and 20 batteries are
sold for $100 each, which of the following journal entry is required to record the sale?
Select one:
O
a. Debit Cash $2,700, Credit Sales Revenue $2,700; Debit COGS $2,100, Credit Merchandise Inventory $2,100
b. Debit Cash $2,100, Credit Sales Revenue $2,100
c. Debit Sales Revenue $2,700, Credit Cash $2,700; Debit COGS $2,100, Credit Merchandise Inventory $2,100
d. Debit Sales Revenue $2,700, Credit Cash $2,700

How do you get a monthly budget spend down

Peninsula products has just applied for a loan at your bank. when reviewing peninsula's books for the year that just ended, you notice that the firm uses the fair value option for its bonds payable. you also see that the firm recorded a $55,000 debit in its bonds payable account and a $55,000 credit in its unrealized holding gain or loss"income account. over that same period, interest rates decreased by about 0.5 percent. how should this information affect the bank's decision as to whether to grant peninsula a loan? a : the bank should strongly consider giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen an increase in its credit rating over the past year. b : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely the result of the rise in interest rates. c : the bank should hesitate before giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen a decline in its credit rating over the past year. d : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely unrelated to either interest rates or the firm's credit rating.

For many years, kellogg's frosted flakes, a ready-to-eat breakfast cereal, was perceived as a cereal for children. tony the tiger, a cartoon character, extolled frosted flakes, and advertisements depicted children enjoying the product with tony in competitive situations. recently, in response to declining sales of frosted flakes, the cereal maker has adopted a new series of advertisements that show adults admitting that they enjoy frosted flakes, too. kellogg's is attempting to