The price-earnings ratio allows investors to make a meaningful evaluation of market values and earnings across firms.

A merchandiser, following the perpetual inventory system, has the following transactions during August, 2017:

Date Transaction Amount Aug. 5 Purchased inventory on account $ 300,000 Aug. 9 Paid for transportation of goods purchased 25,000 Aug 10 Returned defective merchandise to the seller 20,000 Aug. 15 Paid for goods purchased on August 5 ? Credit terms of invoice are 2/15, n/45. Give journal entries for the above transactions. What will be an ideal response

Which of the following attributes is most typical of a service?

A) production and consumption occur simultaneously B) tangible C) mass production D) consistency E) easy to automate