Identify the likely advantage of extending credit to customers. A) Fewer expenses. B) Reduced amounts owed to creditors C) Lower accounts receivablAe D) Increased sales.
Please answer the following 3 questions:
1) Identify the likely advantage of extending credit to customers.
A) Fewer expenses.
B) Reduced amounts owed to creditors
C) Lower accounts receivablAe
D) Increased sales.
2) A company sold inventory for $1,200 that was purchased for $700. The company records which of the following when it sells the inventory using a perpetual inventory system?
A) Debit Cost of Goods Sold $700; credit Inventory $700.
B) Debit Cost of Goods Sold $1,200; credit Inventory $1,200.
C) No entry is required for cost of goods sold and inventory.
D) Debit Inventory $700; credit Cost of Goods Sold $700.
3) Identify the likely advantage of extending credit to customers.
A) Fewer expenses.
B) Reduced amounts owed to creditors.
C) Lower
D) Increased sales.
You have asked three different questions. These questions are not interlinked. As per guidelines we can only able to solve first question. If you want to ask remaining questions please post separately.
Extending credit to customers means allowing customers to pay for goods and services on later date instead of paying on the time.
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