On November 1, 2016, Everett Janitorial Supply sold merchandise with a cost of $3,200 for $5,000, FOB destination, and payment terms of 2/10, n/30. The company uses a perpetual inventory system. Give journal entries to record the sales revenue
What will be an ideal response
Accounts Receivable 5,000
Sales Revenue 5,000
Cost of Goods Sold 3,200
Merchandise Inventory 3,200
Business
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The rate of return on total assets is calculated by first subtracting interest expense from net income and then dividing the result by average total assets
Indicate whether the statement is true or false
Business
Which of the following was the initial mission of the World Bank?
A. Maintaining order in the international monetary system B. Financing the building of Europe's economy by providing low-interest loans C. Taking over as the successor to the International Monetary Fund D. Reviving the gold standard system E. Enforcement of the floating exchange rate system
Business