consider the following scenario: you have been working as an assistant manager in mimi and jasmine's (m& j) warehouse. m& j is an innovative cosmetics company that was started several years ago by two women. because fulfilling small orders is not what you envision for your career, you have begun to study business. you have recently learned that the owners of m& j are interested in selling the business. you are interested in buying the company, so based on the advice of a small business consultant at the local chamber of commerce, you decide to put together a business plan to secure a loan.

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting

In microeconomics, the point at which supply and demand meet is called the blank price

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.