Business, 27.12.2020 15:50 jholland03

Record the following transactions for the month of November 2019 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of November 30. Nov. 1 Collected $2,300 from Katie Bing, a credit customer on account.
10 Received a check from Mike Drake to pay his $3,700 promissory note plus interest of $240.
13 Received $4,100 from Jessie Cole, a credit customer, in payment of her account.
15 Had cash sales of $26,500 plus sales tax of $2,300. There was a cash overage of $14.

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Answer from: 182075

Answer and Explanation:

The presentation of the cash receipt journal is as follows;

Date Description Account Sale Sale Title Amount Cash

Receivable tax Credit of debit

Credit Payable Account

Credit

Nov 1 Katie Bing $2,300 $2,300

Nov 10 Collection

From mike drake Note receivable $3,700

Interest income $240 $3,940

Nov 13 Jessie cole $4,100 $4,100

Nov 15 Cash sales $2,300 $26,500 Cash overage $14 $28,814

Nov 30 Totals $6,400 $2,300 $26,500 $3,954 $39,154

Answer from: Quest

answer; customers within the organization

Answer from: Quest

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.

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Record the following transactions for the month of November 2019 in the cash receipts journal. Total...

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