The speed of the collections process is determined by three types of float: mail float, processing

Wash N' Set Corp purchased equipment for $45,000

Total depreciation of $36,000 was recorded. On January 1, 2017, Wash N' Set exchanges the equipment for new equipment, paying $54,000 cash. The market value of the new equipment is $65,000. Prepare the journal entry to record this transaction. Assume the exchange has commercial substance. What will be an ideal response

For a given type of payment card and processing system, the processes and participants are essentially the same for off-line (card present) and online (card not present) purchases

Indicate whether the statement is true or false