Tricon co. sells $10,000 of its accounts receivables and is charged a 5actoring fee. it records this sale with a debit to?

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Answer 1

Tricon Co. sells $10,000 of its accounts receivables and is charged a 5% factoring fee. It records this sale with a debit to Cash for $9,500.

What is a factoring fee?

The factoring fee is a kind of discount in which it includes factoring companies that are received by the companies after purchasing invoices before they are due and the debtors are to be paid.

One can easily calculate it with the help of the formula. They just have to put the data in the formula. It's like:

Factoring fee = daily rate * number of days the invoice is outstanding

Thus,  sale with a debit to Cash for $9,500.

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Related Questions

Discuss each stage of the life cycle of an insurance claim. in your discussion, demonstrate your understanding of the following terms:_____
a. claims
b. submission
c. clearinghouse
d. edi era

Answers

You can prepare for the procedure by gathering necessary documentation assembling photographs and eyewitness statements of the incident or damage, and being familiar with the subsequent steps.

What Is a Claim Under Insurance?

A formal request for coverage or payment for a covered loss or other policy event made by a policyholder to an insurance company is known as an insurance claim. The insurance provider confirms the claim (or denies the claim). If it is accepted, the insurance provider will pay the insured or a recognized interested party on their behalf.

Insurance claims include everything from normal and extensive medical checkups to death payments on life insurance contracts. In rare circumstances, a third party may submit claims on the insured person's behalf. Only the person(s) named on the policy, however, are often eligible to make a claim for payments.

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The conflict-handling style in which a person neglects their own concerns and allows the concerns of another to prevail is known as:________

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The conflict-handling style in which a person neglects their own concerns and allows the concerns of another to prevail is known as accommodating.

Recognizing that there are four fundamental interpersonal conflict communication styles—assertive, aggressive, passive, and passive aggressive—is the first step in developing these skills.

Finding a middle ground or renouncing some of your issues while committed to those of others is the definition of the compromising style.  The aim of this somewhat cooperative, moderately forceful style is to strike a balance.

Competing is aggressive; accommodating is passive and cooperative. There is a certain amount of self-sacrifice involved when someone is accommodating; they put other people's needs ahead of their own.

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The purposes of managerial accounting are to provide useful information to aid in?

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The purposes of managerial accounting are to provide useful information to aid in "calculating the costs of a company's goods and services, planning for future activities, and comparing actual to planned results."

What is managerial accounting?

Managerial accounting is the method of identifying, assessing, analyzing, analyzing, and communicating financial data to executives in order to help them achieve the goals of their organization.

Some key points regarding the managerial accounting are-

Managerial accounting differentiates from financial accounting in that its intended purpose is to assist users within the organization in making well-informed strategic decisions.Unlike financial accounting, managerial accounting techniques are not governed by accounting standards.The demonstration of managerial accounting information can be tailored to the needs of the end user.Managerial accounting includes many aspects of accounting, such as product costing, financial planning, forecasting, and financial analysis.Financial accounting, on the other hand, generates and disseminates formal financial statements for mass consumption that adhere to current accounting standards.

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The textbook suggests that consumers are best able to choose from among the wide variety of otc products by?

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According to the textbook, knowing which trustworthy manufacturers there are will help buyers make the best decision among the large range of otc items.

A manufacturer is a company or person that creates items, according to the definition. An illustration of a sneaker manufacturer is the business that creates a certain brand of sneakers.

Who is known as the manufacturer?

A manufacturer is a person or business that creates finished products from raw materials using a variety of tools, equipment, and procedures, and then sells the products to consumers, wholesalers, for the production of more complex products, distributors, merchants, or other producers.

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Over the past several decades, the role of human resource management has become more _________ and less _________.

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Over the past several decades, the role of human resource management has become more focused  and less outdated.

How has the role of human resources management changed?

Human resources role is one that has now been altered to become a lot more strategic and aligned in regards to the business objectives.

The role has been altered so as to be able to implement some measures of talent strategies as well as support business results. Human resource professionals is now made up of a lot of roles.

Human resource managers often work together with those of departmental supervisors and top management in handling the business's most important assets which is the people.

Therefore, Over the past several decades, the role of human resource management has become more focused  and less outdated.

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questions. question numbers (1.1.1 to 1.1.5) in the ANSWER BOOK, e.g. 1.1.10 C 1.1.1 A problem-solving technique where a team of experts are given ques to obtain their opinions without bringing them to the same place. A. Force-field 8. Empty chair C. Brainstorming D. Delphi 1.1.2... is aimed at facilitating change in the business. A. Force-Field technique B. Delphi technique C. Chair technique D. Empty chair technique 1.1.3 The... can be used as a form of non-verbal communication. A. Pie chart B. Informal conversations C. Indigenous knowledge D. Panel discussions 1.1.4. Which one of the following is a research instrument? A. Market research B. Nominal group technique C. Flyer D. Questionnaire 1.1.5.... is one of the of legal requirements that a business must comply with A. National Credit Act B. Size of the business C. Legal protection D. Number of owners required​

Answers

Problem-solving technique which is discussed here is Delphi, so option D is correct answer.Force-Field technique is aimed at facilitating change in the business, so option A is the correct answer.Pie chart can be used as a form of non-verbal communication, so option A is the correct answer.Questionnaire is a research instrument, so option D is the correct answer.Legal protection is one of the of legal requirements that a business must comply with, so option C is the correct answer.What is Force-Field technique ?

The force-field analysis method in social science offers a framework for examining the variables (or "forces") that affect a situation, originally social circumstances. It examines factors that are either promoting movement toward a goal (helping factors) or impeding that advancement (hindering forces).

Hence, Delphi, Force-Field technique, Pie chart, Questionnaire, and Legal protection. These are the answers respectively.

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The product of one and four thirty-seconds and twenty thirty-seconds is ________.

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2,902,900 seconds or 806.3611111111 hours or 33.5983796296 days

An office holder who commits misconduct in office by doing something he or she has no right to do is guilty of:________

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Malfeasance is when a office holder behaves improperly or commits misconduct by acting in a way that is against the law.

A just cause removal of an elected official by statute or recall election is frequently justified by official misconduct. Malfeasance in office is in contrast to "misfeasance in office," which is the performance of an official task without sufficient authority, and "nonfeasance in office," which is the failure to do so.

It is challenging to give a precise definition of official misconduct because numerous highly regarded secondary sources (such as books and comments) strive to identify its foundational elements based on documented occurrences.

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To pursue goals such as social justice, social work research must inform direct practice, as well as influence and inform policy practice. this requires social workers to?

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Conduct research that will influence policy makers and the general public to make changes in policy.

Social Workers
A social worker is someone who dedicates their career to enhancing the quality of life for people, families, and communities through counseling, advocacy, and reporting. Social workers may offer direct counseling to families and communities, speak up for them before community groups or other health care providers, or aid clients in navigating the legal system by testifying in court or offering support as necessary. In other words, social workers are dedicated to assisting people in improving their lives. Finding your specialty in the field of social work is as easy as identifying your areas of interest because there are numerous career routes available. You could, to name a few, work with children and families, communities, in health care settings, or rehabilitation facilities.

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Supply is said to be ____________ when the quantity supplied is very responsive to changes in price.

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Supply is said to be more elastic when the quantity supplied is very responsive to changes in price.

What is Price elasticity?

The quantity demanded of a good or service divided by the percentage change in price is the price elasticity of demand. The percentage change in quantity supplied divided by the percentage change in price represents the price elasticity of supply.Perfectly elastic, elastic, perfectly inelastic, inelastic, and unitary are the five major categories into which elasticities can be effectively categorised.Price elasticity quantifies how responsively a good's supply and demand are to changes in price. It is calculated by dividing the percentage change in quantity provided (or required) by the percentage change in price.Price elasticity of demand is a measurement of the change in consumption of a product in relation to a change in its price.

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Suppose that a particular artillery piece has a range r = 4000 yards . find its range in miles. use the facts that 1mile=5280ft and 3ft=1yard.

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Any single quantity in the world can be interpreted in better than one way.  Unit conversion is a method by that we can go back and forth between various units.

Unit conversion

Given:

R=9,350 ydR=9,350 yd is the range in yards

Since we want the content in miles here, we will be utilizing the conversion factor:

1 mi=528 ft1 mi=528 ft

3 ft=1 yd3 ft=1 yd

So to do a unit conversion process, we say these conversion factors as a particle that equals 11.  We describe this concept in this precise conversion:

R=9,350 yd(3 ft1 yd)(1 mi528 ft)R=9,350 yd(3 ft1 yd)(1 mi528 ft)

We set up our conversion factors here as particles that equal 11. We set the units up in such a way that they can balance each other out:

We will thus get:

R=53.125 mi

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According to the text, spreadsheet packages are used by virtually every business for _______________.

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An operating system performs three primary tasks: managing the computer's resources, including the CPU, memory, disc drives, and printers; creating a user interface; and running and supporting application software.

Application software that is used to complete routine tasks, such word processing, is referred to as general purpose software.

A general purpose software application is software that has been created to use a computer system to complete common or general tasks for users. Word processing, spreadsheet, and photo editing software are among examples.

The operating system's service maintains track of which users are using what resources—and how much—for accounting purposes as well as to compile consumption data.

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What major road (just south of the youngstown state university campus) is an abandoned rail line? please include the compete name for full credit.

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Pittsburgh & Lake Erie Railroad Gateway Yard major road (just south of the Youngstown state university campus) is an abandoned rail line.

What is railroad?

The term “railroad” refers to a defunct rail track. The railroad's track does not change and is permanent. In the seventeenth century, the railroad brought England into the world. Two parallel lines are permanently installed on the railroad track.

The Pittsburgh and Lake Erie Railroad was located in Youngstown, Ohio, and is an abandoned rail line. It was the development of 1957. Gateway Yard was in charge of this central location of the railroad.

As a result, P&LE was the is an abandoned rail line.

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Which checking account would be best for nathan? account aaccount baccount caccount d

Answers

The best checking account for Nathan, is account D, therefore, the correct option is D.

Among Nathan's requirements for the checking account are

Lowest costs with $300 provided for account opening (minimum balance).use of an ATMHis employer's direct depositBecause Bank A's minimum balance requirement ($500) exceeds Nathan's available funds ($300), Bank A will not be a good choice.

Due to the fact that Bank B and Bank D provide the identical checking account characteristics, Bank B will not be appropriate. However, Bank D's checking account has the added benefit of 0.1% interest (interest is zero for Bank B) and may incur no monthly cost due to the availability of direct deposit from Nathan's work.

Due to its higher ATM cost ($2 per transaction compared to $0 for account D), Bank C will not be appropriate.

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Complete Question
Nathan has $300 to open a checking account. He wants an account with the lowest fees. He plans on using the ATM machine, and his employer offers direct deposit. Bank Account Terms and Conditions Bank A has a minimum balance of 500 dollars, interest of 0.1 percent, overdraft protection, 0 dollar ATM fee, and 0 dollar monthly fee. Bank B has a minimum balance of 250 dollars, interest of 0 percent, no overdraft protection, 0 dollars for all A B C bank A T M s, and 5 dollar monthly fee. Bank C has 50 dollar minimum balance, 0.1 percent interest, no overdraft protection, 2 dollar per A T M transaction, 10 dollar monthly fee or 0 dollars with direct deposit. Bank D has 100 dollar minimum balance, 0.1 percent interest, no overdraft protection, 0 dollar A T M fee, and 5 dollar monthly fee or 0 dollars with direct deposit. Which checking account would be best for Nathan?

Which checking account would be best for Nathan?

Account A

Account B

Account C

Account D

Answer:

D

Explanation:

The three services marketing are: internal, external and interactive.
a. true
b. false

Answers

It is a true statement that the three services marketing are: internal, external and interactive.

What is a services marketing?

Basically, a marketing refers refers those activities a company undertakes to promote the buying or selling of a product or service. It includes the use of  advertising, selling, and delivering products to consumers or other businesses; but some marketing are done by affiliates on behalf of a company.

However, the Services marketing refers to the form of marketing businesses that provide a service to their customers use to increase brand awareness and sales; it is categorized into an internal, external and interactive marketing.

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A company pays one year of rent in advance on january 1. on january 31, the company will record an adjusting entry that will:________

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If a company pays one year of rent in advance on january 1. on january 31, the company will record an adjusting entry that will: Decrease assets and increase expenses.

Adjusting journal entry

Assuming company pays one year of rent in advance on january 1  which means that on january 31, the company will record an adjusting entry that will Decrease assets and increase expenses.

The adjusting journal entry for a prepaid expense will tend to decreases assets (Prepaid Rent) and as well  increases expenses (Rent Expense).

Therefore on january 31, the company will record an adjusting entry that will: Decrease assets and increase expenses.

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The best values management programs also provide either a(n) _______ or a(n) ________ to report any violations.

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The best values management programs also provide either a direct contact person or an anonymous hotline to report any violations. It is better to have those two options because reporting something requires that we remain anonymous. We would probably also create a new conflict on top of it.

A violation report is used to describe every allegation of a violation or alleged violation of this Manual, as well as the investigation and subsequent actions. An instance of a violation might be being bullied at work or school. Another illustration is breaking the law by driving your car faster than the posted limit.

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A surprising recommendation regarding organizational requirements for innovation is __________.

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A surprising recommendation regarding organizational requirements for innovation is put technology ahead of strategy

What is innovation?

The term innovation refers to creating a new idea of accomplishing task. The new idea us usually beneficial to the people or organization that will use it. Innovation is a necessary skill to maintain operational excellence in an organization.

Managers should be innovative enough to lead their subordinates and inspire them towards being innovative too. As collective innovation will be beneficial to the organization. It is therefore recommended that organizations require innovation to put technology ahead of strategy.

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complete question

A surprising recommendation from the disruptive innovation cycle​ is:

A. put marketing ahead of strategy.

B. always put strategy first.

C. put technology ahead of strategy.

D. innovate once and forget it.

E. put marketing ahead of technology.

In a large business, the _____ department makes sure that all the computer operations, mobile devices, and networks run smoothly.

Answers

In a large business, the information technology department makes sure that all the computer operations, mobile devices, and networks run smoothly.

What is the definition of information technology?

Information technology (IT) is the creation, processing, storage, secure transmission, and exchange of all forms of electronic data. IT includes the use of computers, networking, storage, and other physical devices.

With the aid of hardware and software networks, workstations, and storage devices at lower costs, information technology makes it possible to store and retrieve large amounts of data fast. With the use of information technology, data may be combined and configured to provide distinctly new information that facilitates making decisions quickly.

Therefore, in a large business, the information technology department makes sure that all the computer operations, mobile devices, and networks run smoothly.

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What should the management of sports products, inc., pursue as its overriding goal? why?

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The management of sports products, inc., pursue as its overriding goal as "the primary goal of the firm should be to maximize shareholder wealth, which means maximize share price."

What is share price?

A share price, also known as a stock price, is the cost of purchasing one share of a company.

Some key points related to share price are-

A share's price is not fixed and varies as according market conditions. It will most likely rise if the business is thought to be doing well, and fall if the business fails to meet expectations.Share prices are initially determined by a company's initial public offering (IPO), where the price of one share is set based on the perceived supply and demand for that company's stock. Prices are typically set by a bookrunner, who is a lead manager hired specifically to assist the company in determining a suitable price for its IPO.

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Yolanda and wes decide to go into business together. what form of partnership arrangement can they use to limit their individual and business liability?

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The form of partnership agreement that can limit their  individual and business liability is a limited liability partnership.

What is a  limited liability partnership?

A  partnership is an agreement between two or more people who are referred to as partners who decide to come together to run a business with the aim of making profit. Partnerships have the advantage of having the ability to raise more capital than a sole proprietorship.

A limited liability partnership is a form of partnership where the liability of partners are limited to the amount of money invested in the business. This means that in the event where a business cannot meet its debt obligation, the maximum amount the partners can lose is the amount of money that is invested in the business.

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The accounts payable account is a(n) ______ account.
a. expense
b. revenue
c. asset
d. liability

Answers

The accounts payable account is liability account., Therefore, the correct option is D.

What is liability account?

When a liability account is debited, the amount owed by the company is reduced (i.e., the liability increases), and when a liability account is credited, the amount owed by the company grows (i.e. increases the liability). Current liabilities and long-term liabilities are the two categories that make up liability accounts.

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Which action would the nurse perform when searching scientific databases for evidence? select all that apply. one, some, or all responses may be correct

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The nurse would conduct Studies in nursing, allied health, and biomedicine can be found in CINAHL, PubMed gives free journal articles, and AHRQ provides clinical guidelines and evidence summaries.

Clinical practice recommendations are made in statements that aim to improve patient care. They are based on a thorough study of the available data and an evaluation of the advantages and disadvantages of various alternative care alternatives.

What do clinical guidelines serve as?

Clinical practice guidelines are "systematically developed statements to assist practitioners and patients judgments about appropriate health care for specific clinical circumstances" and are meant to provide clear guidance on how to deliver healthcare services.

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A major reason that decision making is often not such a rational process is that there are:______.

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The fact that there are too many steps in the decision-making process for most individuals to handle is a big factor in why decision-making is frequently not such a reasonable process.

The opposite of intuitive decision-making is rational decision-making. It follows a rigid process based on logic and objective information. It entails identifying the issue that needs to be resolved, collecting data, identifying options and outcomes, analyzing them, taking into account all the connections, and making a decision. Fundamentally, decisions are the outcome of certain thought processes. Good judgments are frequently deemed reasonable even when they are not always conclusions of the inferences or alternatives best valued according to relevant criteria in a context. The information that decision-makers do have is frequently inaccurate and incomplete, and they do not have access to all information that may be important to the choice. Decision-makers have weak computational and analytical skills.

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Consider the utility function u(x, y) = 3x y, with mux = 3 and muy = 1. is the assumption that more is better satisfied for both goods?

Answers

Yes, the assumption that more is better satisfied for both goods for the given utility function.

What is utility function?

Utility in economics involves satisfying or pleasure which consumers receive from consuming a product or service. The utility function assesses consumers' desires for a specific set of goods and services.

Utility is measured in utils (the Spanish word for useful), but trying to calculate the benefit or satisfaction received by consumers is abstract and complicated to pinpoint. As a consequence, economists measure utility by observing consumer choices in light of revealed preferences. Economists then create a ranking of usage baskets from least wanted to most preferred.Ordinal utility ranks options based on choice, whereas cardinal utility tests the utility gained from a decision.

Now, as per the question;

[tex]M U_x=\frac{\delta u}{\delta x}=[/tex] 3 > 0

Thus,  MUx > 0.

Similarly,

[tex]M U_y=\frac{\delta u}{\delta y}=[/tex] 1 > 0.

Thus, MUy > 0.

Therefore, MUx and MUy both are greater than zero, implying that more is more satisfying for both goods.

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The correct question is-

Consider the utility function U(x, y) = 3x + y, with MUx = 3 and MUy = 1. a) Is the assumption that more is better satisfied for both goods?

when local government relationships are critical to the success of international operations, the best organizational structure for a firm would be .

Answers

when local government relationships are critical to the success of international operations, the best organizational structure for a firm would be geographic regions.

A geographical organizational structure organizes people within an organization by geographic location.

This structure creates specific divisions for each location. Each division acts as if it is its own company, combining different types of personnel for various business functions.

Therefore, when  local government relationships are critical to the success of international operations, they need a geographical organizational structure.

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Kia motor company is performing a key function of operations management when it ________ for its new line of automobiles.

Answers

Kia motor company is performing a key function of operations management when it purchases new parts and supplies for its new line of automobiles.

Kia motor company

Kia Corporation, or simply Kia, is a South Korean multinational automobile manufacturer headquartered in Seoul. With sales of over 2.8 million vehicles in 2019, it is South Korea's second largest automobile manufacturer after its parent company, Hyundai Motor Company. Kia began as Kyungsung Precision Industry on June 9, 1944, as a manufacturer of steel tubing and bicycle parts, eventually creating Korea's first indigenous bicycle, the Samchully, in 1951.

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Help I’ll give good pts !!!

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6.Trade barriers are often enacted to protect industries and workers within a country. This is refereed as protectionism. For example, tariffs, quotas and embargoes make foreign good more expensive and less available so I would say no it is not better for a country to have trade barriers


1. When you make a purchase with your credit card, you are borrowing money from your card issuer. You don’t have to use your own money until you pay your credit card bill. By contrast, debit cards are linked to your checking account.

2.Credit cards have a major impact on your credit score. Use your credit card wisely, and you’ll be on the way to a great credit score but if you make a mistake like missing a card payment for 30days or more your credit score will drastically go down. The more you mess up the more your credit score will fall.

how is accounting knowledge beneficial to different business majors? accounting knowledge helps .

Answers

Accounting plays an important role in running a business because it helps you track income and expenditures, ensure statutory compliance, and supply investors, management, and government with quantitative financial information which might be utilized in making business decisions.

There are three key financial statements generated by your records. The profit-and-loss statement provides you with information about the profit and loss. The record gives you a transparent picture on the financial position of your business on a selected date. The income statement could be a bridge between the profit-and-loss statement and record and reports the cash generated and spent during a particular period of your time. It is critical you retain your financial records clean and up thus far if you would like to stay your business afloat. Here are just some of the explanations why it's important for your business, big or small.

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The presence of a financial market increases the marketability of a financial security by:________

Answers

The right response is "to lower the transaction costs associated with selling the security".

A financial market is any site or mechanism that enables buyers and sellers to exchange financial assets including bonds, shares, the various international currencies, and derivatives. Financial markets provide the link between those with funds to invest and others in need of capital.

What are securities and financial markets?

A financial market is a place where individuals may exchange financial derivatives and securities for little to no cost. Stocks, bonds, raw resources, and precious metals, which are referred to as commodities in the financial markets, are some of the securities.

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