Amerchandiser purchased inventory on account for $18,000. under the periodic inventory system, the journal entry to record the purchase would include
a. a debit to accounts payable for $18,000 and a credit to purchases for $18,000
b. a debit to accounts payable for $18,000 and a credit to merchandise inventory for $18,000
c. a debit to merchandise inventory for $18,000 and a credit to accounts payable for $18,000
d. a debit to purchases for $18,000 and a credit to accounts payable for $18,000

Forecasting as a first step in the team’s decision making, it wants to forecast quarterly demand for each of the two types of containers for years 6 to 8. based on historical trends, demand is expected to continue to grow until year 8, after which it is expected to plateau. julie must select the appropriate forecasting method and estimate the likely forecast error. which method should she choose? why? using the method selected, forecast demand for years 6 to 8.

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

In 1975, mcdonald’s introduced its egg mcmuffin breakfast sandwich, which remains popular and profitable today. this longevity illustrates the idea of: