When Japanese suppliers ship parts to manufacturers in containers with a card slipped into a side pocket, the JIT system ________ is in effect

In order for a security interest in goods to attach, the

A. Debtor must sign a security agreement which adequately describes the goods. B. Debtor must retain possession of the goods until the underlying debt has been satisfied. C. Creditor must properly file a financing statement. D. Creditor must have given value.

Powderhouse, Inc has two processes—Coloring Department and Mixing Department

The company sold 2,000 gallons of paint for $220,000, of which $150,000 was sold on account. The total cost of processing was $385,000 for 5,500 gallons of paint. What are the journal entries to record a sale if the company follows a process costing system? What will be an ideal response