Acompany purchased $2700 of merchandise on july 5 with terms 2/10, n/30. on july 7, it returned $650 worth of merchandise. on july 12, it paid the full amount due. assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on july 12 is: debit accounts payable $2050; credit merchandise inventory $41; credit cash $2009. debit cash $2050; credit accounts payable $2050. debit accounts payable $2700; credit cash $2700. debit merchandise inventory $2050; credit cash $2050. debit accounts payable $2050; credit cash $2050.

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

Aminor has the legal right to repudiate

Select the correct answer. ramon applied to the state university in the city where he lives, but he was denied admission. what should he do now? a. change his mind about graduating and drop out of high school so he can start working right away. b. decide not to go to college, because he didn’t have a backup plan. c. stay positive and write a mean letter to let the college know that they made a bad decision. d. learn from this opportunity, reevaluate his options, and apply to his second and third choices.