Answer:
Cross-cultural communication has become strategically important to companies due to the growth of global business, technology, and the internet. Cross-cultural communication in an organization deals with understanding different business customs, beliefs and communication strategies.
The owner of Artisanal Chips etc. produces three flavors of artisanal corn chips marketed at new college graduates — pumpkin (P), chipotle adobo (A) and basement (B). He has a limited amount of the three ingredients used to produce these chips available for his next production run: 1,000 ounces of salt, 2,000 ounces of maize, and 1,200 ounces of herbs. A bag of pumpkin chips requires 2 ounces of salt, 6 ounces of maize, and 1.75 ounces of herbs to produce; while a bag of chipotle-adobo chips requires 6 ounces of salt, 6 ounces of maize, and 5 ounces of herbs. A bag of basement chips requires 1.75 ounces of salt, 3.5 ounces of maize, and 1.5 ounces of herbs. Profits for a bag of basement chips are $0.40, for chipotle-adobo chips is $0.60, and for a bag of pumpkin chips $0.50.
For the production combination of 100 bags of each flavor of chips, which of the three resources is (are) not completely used?
a. salt and herbs only
b. salt and maize only
c. herbs maize and salt
d. maize only
Answer:
Artisanal Chips
For the production combination of 100 bags of each flavor of chips, the three resources are not completely used are:
c. herbs, maize, and salt
Explanation:
a) Data and Calculations:
Ingredients Ounces Usage per Bag
Pumpkin Chipotle Basement
Salt 1,000 2 6 1.75
Maize 2,000 6 6 3.5
Herbs 1,200 1.75 5 1.5
Basement Chipotle Pumpkin
Profits for a bag $0.40 $0.60 $0.50
Total ingredients required for 100 bags of each:
Resources Pumpkin Chipotle Basement Total Unused
Usage Resources
Salt 1,000 200 600 175 975 25 ounces
Maize 2,000 600 600 350 1,550 450 ounces
Herbs 1,200 175 500 150 825 375 ounces
The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process.
Production: Beginning inventory 1,520 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,300; ending inventory of 7,400 units 10% complete as to conversion costs.
Manufacturing costs: Beginning inventory costs, comprised of $21,600 of materials and $12,320 of conversion costs; materials costs added in Polishing during the month, $181,795; labor and overhead applied in Polishing during the month, $127,700 and $257,740, respectively.
Compute the equivalent units of production for materials and conversion costs for the month of September
Materials Conversion Costs
The equivalent units of production enter a number of units enter a number of units
Compute the unit costs for materials and conversion costs for the month. (Round unit costs to 2 decimal places, e.g. 2.25.)
Materials Conversion Costs
Unit costs $enter a dollar amount rounded to 2 decimal places $enter a dollar amount rounded to 2 decimal places
Determine the costs to be assigned to the units transferred out and in process. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.)
Transferred out $enter a dollar amount rounded to 0 decimal places
Ending work in process $enter a dollar amount rounded to 0 decimal places
Answer:
mucho texto xdxdxdxdxdxdxdxdx
sells subscriptions for for months. The company collects cash in advance and then subscribers have access to unlimited movies each month. Apply the revenue recognition principle to determine a. when should record revenue for this situation. b. the amount of revenue should record for months.
Answer:
First part of the question is:
Movies Online sells subscriptions for $36 for 18 months.
a. Apportion revenue to each month.
Going by the Revenue Recognition principle, revenue should only be recognized when the service has been delivered. Seeing as the service is monthly, the company should find out the total revenue for the 18 months and then apportion this to each of those 18 months and recognize a monthly revenue at the end of each month.
b. Amount of revenue for 8 months:
First find the revenue per month:
= Total revenue / 18 months
= 36 / 18
= $2 per month
Revenue for 8 months:
= 2 * 8
= $16
Hot and Cold has annual sales of $950,000, annual depreciation of $125,000, and net working capital of $243,000. The tax rate is 40 percent and the profit margin is 8 percent. The firm has no interest expense. What is the amount of the operating cash flow?
Answer:
$201,000
Explanation:
Calculation to determine the amount of the operating cash flow
Using this formula
OCF=(Annual sales*Profit margin )+Annual depreciation
Let plug in the formula
OCF = ($950,000*.08)+ $125,000
OCF=$76,000+$125,000
OCF=$201,000
Therefore the amount of the operating cash flow is $201,000
Human capital refers to: a. the value that the firm's workforce contributes to each product produced or service rendered. b. the net present value of the future competencies of the workforce. c. the amount of money purchasers of the firm would pay for the continuing employment of the present workforce. d. knowledge and skills of a firm's entire workforce.
Answer:
D
Explanation:
Human capital is an example of an intangible asset. It is the economic value attached to labours' skills and expertise.
Types of Human Capital include :
(1) Knowledge Capital
(2) Social Capital
(3) Emotional Capital.
Qualities of human capital includes
• Education.
• on-the-job training.
• Hard work
• experience
• Mental and emotional well-being.
• People management.
• Communication skills.
The ratio of shareholders funds to total assets of the company is called?
Answer:
share holder equity
Explanation:
it indicates how much of company's assets have been generated
There are several ways that central banks can increase or decrease the money supply. Match the descriptions below with the corresponding policy tool. It is possible that a description does not apply to any of the terms.
a. Open Market Operations
b. Reserve Requirement
c. Discount Rate
1. A government printing more currency.
2. An increase in the percentage of deposits that bank must keep on hand.
3. An increase in the interest rate that a central bank charges commercial banks for loans.
4. An increase in government spending
5. A central bank purchasing existing bonds.
Answer:
An increase in the percentage of deposits that bank must keep on hand- RESERVE REQUIREMENT
2. An increase in the interest rate that a central bank charges commercial banks for loans - DISCOUNT RATE
Open Market Operations - A central bank purchasing existing bonds.
1 and 4 are not instances of monetary policy
Explanation:
Monetary policy are policies taken by the central bank of a country to shift aggregate demand.
Tools of monetary policy
1. Open market operations : government can either sell bonds to the public, this is known as open market sales. this is an example of an contractionary policy or it can buy bonds from the public. this is known as open market purchase. it is an expansionary policy
2. Reserve Requirement : Reserves are the proportion of deposits required by the central bank that banks keep
If reserve requirement is increased, it is an example of a contractionary policy. If on the other hand, it is reduced, it is an example of an expansionary policy.
3. Discount rate : this is the rate at which the central bank lends to commercial banks. An increase in discount rate is a contractionary policy while an decrease in discount rate is an expansionary policy
There are two types of monetary policy :
Expansionary monetary policy : these are polices taken in order to increase money supply. When money supply increases, aggregate demand increases. reducing interest rate and open market purchase are ways of carrying out expansionary monetary policy
Contractionary monetary policy : these are policies taken to reduce money supply. When money supply decreases, aggregate demand falls. Increasing interest rate and open market sales are ways of carrying out contractionary monetary policy
Goals of monetary policy include
• financial market stability
• economic growth
• high employment
• price stability
Assume that the CAPM is a good description of stock price returns. The market expected return is 8% with 12% volatility and the risk-free rate is 3%. New news arrives that does not change any of these numbers, but it does change the expected returns of the following stocks:
Stock Expected Return Volatility Beta
Taggart Transcontinental 8% 28% 1.2
Rearden Metal 13% 40% 1.7
Wyatt Oil 7% 20% 0.8
Nielson Motors 10% 32% 1.3
The expected alpha for Taggart Transcontinental is closest to:_______
A) -3%
B) -1%
C) 1%
D) 3%
E) 0%
Answer:
b. -1%
Explanation:
Expected Alpha = E[rs] - [rf+ B(rm- rf)]. Where rf+ B(rm- rf) is the CAPM return, rf= risk free return, B = Beta of security, rm= return of market, E[rs]= Expected return of security
Expected Alpha = 8% - [3%+1.2*(8%-3%)
Expected Alpha = 8% - 9%
Expected Alpha = -1%
So, the expected alpha for Taggart Transcontinental is closest to -1%.
Listed below are five technical accounting terms. Each of the following statements describes one of these technical terms. For each statement, indicate the term described.
Opportunity cost
Out-of-pocket cost
Joint products
Incremental analysis
Sunk cost
Split-off point
Relevant information
Each of the following statements may (or may not) describe one of these terms. For each statement, indicate the accounting term or terms described, or answer "none" if the statement does not correctly describe any of these terms.
a. Examination of differences between costs to be incurred and revenue to be earned under different courses of action.
b. A cost incurred in the past that cannot be changed as a result of future actions.
c. Costs and revenue that are expected to vary, depending on the course of action decided on.
d. The benefit foregone by not pursuing an alternative course of action.
e. Products made from common raw materials and shared production processes.
f. A cost yet to be incurred that will require future payment and may vary among alternative courses of action.
g. The point at which manufacturing costs are split equally between ending inventory and cost of goods sold.
Answer:
a. Incremental analysis.
b. Sunk cost.
c. Relevant information.
d. Opportunity cost.
e. Joint products.
f. Out-of-pocket cost.
g. Split-off point.
Explanation:
a. Incremental analysis: examination of differences between costs to be incurred and revenue to be earned under different courses of action.
b. Sunk cost: a cost incurred in the past that cannot be changed as a result of future actions. Sunk cost can be defined as a cost or an amount of money that has been spent on something in the past and as such cannot be recovered.
c. Relevant information: costs and revenue that are expected to vary, depending on the course of action decided on. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.
d. Opportunity cost: the benefit foregone by not pursuing an alternative course of action. Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
e. Joint products: products made from common raw materials and shared production processes.
f. Out-of-pocket cost: a cost yet to be incurred that will require future payment and may vary among alternative courses of action.
g. Split-off point: the point at which manufacturing costs are split equally between ending inventory and cost of goods sold. Thus, it give rise to joint products that emerge from the same raw materials and a shared manufacturing process.
A truck acquired at a cost of $120,000 has an estimated residual value of $5,300, has an estimated useful life of 37,000 miles, and was driven 3,300 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places.
a. The depreciable cost $
b. The depreciation rate $ per mile
c. The units-of-activity depreciation for the year $
Answer:
Cost of Truck = $120,000
Residual Value = $5,300
Useful Life = 37,000 miles
a. Depreciable Cost = Cost of Truck - Residual Value
Depreciable Cost = $120,000 - $5,300
Depreciable Cost = $114,700
b. Depreciation Rate = Depreciable Cost / Useful Life
Depreciation Rate = $114,700/37,000 miles
Depreciation Rate = $3.1 per mile
c. Number of miles driven during the year = 3,300
Depreciation for the Year = Depreciation Rate * Number of miles driven during the year
Depreciation for the Year = $3.1 per mile * 3,300
Depreciation for the Year = $10,230
Waiting period. Upstate University currently has a 6 comma 000 -car parking capacity for faculty, staff, and students. This year, the university issued 4 comma 356 parking passes. The number of parking passes issued has been growing at a rate of 6 % per year. How long will it be before the university will need to add parking spaces?
Answer: 5.5 years
Explanation:
The 6,000 parking capacity is the future value of the number of parking passes and the 4,356 is the present value.
Using the future value formula, you can find the number of periods it would take:
Future value = Present value * (1 + rate) ^ n
(1 + rate)^ n = Future value / Present value
n = In (Future value / Present value) / In ( 1 + r)
= In (6,000 / 4,356) / In ( 1 + 6%)
= 5.495 years
= 5.5 years
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag.
Required:
a. Determine the economic order quantity. (Round your final answer to the nearest whole number.) Economic order quantity bags
b. What is the average number of bags on hand? (Round your final answer to the nearest whole number.) Average number of bags
c. How many orders per year will there be? (Round your final answer to the nearest whole number.) Number of orders per year
d. Compute the total cost of ordering and carrying flour.
Answer and Explanation:
The computation is shown below
a. The economic order quantity is
= sqrt ((2 × annual demand × ordering cost) ÷ carrying cost)
= sqrt ((2 × 1,215 × $10) ÷ $75)
= 18 units
b) Average number of bags on hand is
= EOQ ÷ 2
= 18 ÷ 2
= 9
c) Orders per year is
= D ÷ EOQ
= 1215 ÷ 18
= 67.5
= 68
d) Total cost = Total carrying cost+ Total ordering cost
= (Q ÷ 2)H +(D ÷ Q)S
= (18 ÷ 2)75 + (1215 ÷ 18) × 10
= 675 + 675
= $1350
How does your new budget help you to meet your long-term goal of saving for college?
Answer:
make sure in the budget your savings are enough for college in the time you want
that is the expenditure must not over wegh the income...you should save as much as possible
Answer:
A budget helps create financial stability.
Explanation:
Why is budgeting crucial for college students?Budgeting assists you in achieving your academic and financial objectives.
A budget will also assist you in anticipating unforeseen costs and challenges. Budgeting necessitates difficult decision-making, but creating goals will make the process easier.
How can Budgeting helps individual?A budget aids in financial security A budget makes it simpler to pay bills on time, develop an emergency fund, and save for significant purchases like a car or home by tracking costs and sticking to a plan. A budget, in general, puts a person on a better financial footing in the short and long term.Goal of Budget-A budget is used to plan, manage, track, and improve one's financial status. In other words, a budget keeps you on track toward your long-term financial goals by allowing you to regulate your spending and consistently save and invest a percentage of your income.
Learn more about Budgeting here-
https://brainly.com/question/6663636
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An online gardening magazine wants to understand why its subscriber numbers have been increasing. A data analyst discovers that significantly more people subscribe when the magazine has its annual 50%-off sale. This is an example of what
Answer:
Analyzing customer buying behaviors
Explanation:
The consumer buying behavior means the action taken either online or offline by the consumer prior from purchasing the product or service. It includes the consultation made with the search engines, engaged with the post on the social media, etc
Since in the given situation, the data analyst find that when the magazine having 50% off sale so more people has subscribed
So it represent the above answer
At the end of January, the unadjusted trial balance of Windsor, Inc. included the following accounts: DEBIT CREDIT Sales (80% of this is credit sales) $500,000 Accounts Receivable $340,000 Allowance for Doubtful Accounts $800 Answer the following 2 questions: 1) Windsor uses the balance sheet approach in estimating uncollectible accounts expense, and aging the accounts receivable indicates the estimated uncollectible portion to be $7,400. What is the amount of uncollectible accounts expense recognized in Windsor's income statement for January
Answer:
$6,600
Explanation:
Calculation to determine What is the amount of uncollectible accounts expense recognized in Windsor's income statement for January
Using this formula
Uncollectible accounts expense=estimated uncollectible portion-Allowance for Doubtful Accounts
Let plug in the formula
Uncollectible accounts expense=$7400-$800
Uncollectible accounts expense=$6,600
Therefore the amount of uncollectible accounts expense recognized in Windsor's income statement for January is $6,600
The Real Option Inc. is considering a new project. It believes that each year it would be able to sell 15 units at a $300,000 per-unit after-tax profit (i.e., per-unit operating cash flow) for the next five years. A $14.8 million initial investment will be required at the beginning of the project. The appropriate discount rate is 16 percent.
Required:
Calculate the base-case NPV of this project.
Answer:
NPV = $10.708 million
Explanation:
The base case NPV is that calculated by discounting the after-tax cash flow by the cost of equity based on asset beta. The base-case NPV does not consider the financing effect of the any particular finance source used to fund the project.
NPV = PV of cash inflow - Initial outlay
After-tax cash flow = 300,000×15= 4.5 million
PV of cash inflow = cash inflow × A × (1- (1+r)^(-n)/r
4.5 ×( 1- (1.16^-5)/0.16= 25.508 million
NPV = PV of cash inflow - Initial outlay
NPV = 25.508 million - 14.8 million
NPV = $10.708 million
For each of the following scenarios, determine whether the decision maker is risk neutral, risk averse, or risk loving.
a. A manager prefers a 20 percent chance of receiving $1,400 and an 80 percent chance of receiving $500 to receiving $680 for sure.
b. A shareholder prefers receiving $920 with certainty to an 80 percent chance of receiving $1,100 and a 20 percent chance of receiving $200.
c. A consumer is indifferent between receiving $1,360 for sure and a lottery that pays $2,000 with a 60 percent probability and $400 with a 40 percent probability.
Answer:
RISK LOVING
RISK AVERSE
RISK NEUTRAL
Explanation:
A risk loving person prefers an uncertain outcome to a certain outcome with equal reward. She derives a higher utility from an uncertain outcome
A risk averse person prefers an certain outcome to a uncertain outcome with equal reward. She derives a higher utility from an certain outcome
A risk neutral person is indifferent between a certain outcome and an uncertain outcome with equal reward.
1 0.2(1400) + 0.8(500) = 680
the manger is risk loving because he prefers the uncertain outcome
Barney, age 61, has taken full advantage of the tax law and fully deducted each year's contributions to his traditional IRA for the past 35 years. Barney has now begun taking distributions from his traditional IRA. What percentage of each distribution will be taxable?
a. 75%.
b. 0%.
c. 100%.
d. 50%.
Answer: c. 100%
Explanation:
When contributing to Traditional Individual Investment Accounts (IRAs), you are allowed to deduct these contributions either fully or partially from your taxable income which means that you get to pay less taxes.
When you retire however, and the retirement distributions begin to come in, those distributions will be subject to taxes because you didn't pay taxes on them when you were contributing to the IRA. If you fully deducted the contributions, that means your IRA distributions would have to be fully taxable as well.
Gary Dittman, an employee of Hopkins Company, has gross earnings for the month of October of $6,000. FICA taxes are 8% of gross earnings, federal income taxes amount to $952 for the month, state income taxes are 2% of gross earnings, and authorizes voluntary deductions of $15 per month to the United Way. What is the net pay for Gary? Group of answer choices $4,442 $4,433 $4,448 $4,452
Answer:
Option b ($4,433) is the appropriate choice.
Explanation:
Given:
Gross earnings,
= $6,000
Federal income taxes,
= $952
Now,
The net pay for Gary will be:
= [tex]6000-(6000\times 10 \ percent-952-15)[/tex]
= [tex]6000-(6000\times 0.1-952-15)[/tex]
= [tex]4,433[/tex] ($)
A corporation had the following assets and liabilities at the beginning and end of this year. Assets Liabilities Beginning of the year $124,500 $53,373 End of the year 172,000 69,660 Owner made no investments in the business, and no dividends were paid during the year. Owner made no investments in the business, but dividends were $550 cash per month. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. Dividends were $550 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine the net income earned or net loss incurred by the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.).
Answer:
Hence, the net income earned or net loss incurred by the business during the year $102,340.
Explanation:
Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow.
Planned production in units 10,000
Actual production in units 10,000
Number of units sold 8,500
There were no variances. The net income (loss) under absorption costing is:
a. (7500)
b. 9,000
c. 15,00
d. 18,000
e. Some other amount
Answer:
I think it might be b. 9,000
When evaluating a chi-square test, describe the importance of the goodness of fit test. Provide an example and explain how the test is used to evaluate data. In replies to peers, provide additional examples not already discussed.
Answer:
Explanation:
Whenever you merely have one categorical variable within a single population, the goodness fit test is utilized. It's used to see if sample data matches a hypothesized or predicted distribution.
It's used to figure out how a particular phenomenon's observed value differs from the predicted value.
It can also be employed to make comparison of the observed sample to the sample distribution that should have been expected. It determines how closely the theoretical distribution corresponds to the empirical distribution.
Using this as an additional example that has not been discussed:
Consider a firm that produces a card deck. According to the company, 25% of its cards were clubs, 60% were diamonds but not hearts, and 15% were spades. We may collect a random sample of card decks and do a goodness of fit test to check if our sample distribution varied substantially from the company's reported distribution.
Chức năng cắt trừ giá trị là chức năng quan trọng nhất của tiền theo quan điểm của nền kinh tế hiện đại
The political environment in India has proven to be critical to company performance for both PepsiCo and Coca-Cola India. What specifi c aspects of the political environment have played key roles?
Answer:
Explanation:
The political environment in India have played key role in company performance of PepsiCo and Coca-Cola India as follow:
- The Indian government viewed as unfriendly to foreign investors especially those who want to invest in other sectors apart from high tech sectors.
- Outside investment had been allowed only in high-tech sectors and was almost entirely prohibited in consumer goods sectors. The The “Principle of Indigenous Availability” (Policy banning imports being sold in India)
- Distribution Arrangements - Production plants and bottling centers were strategically placed in large cities all around India. They were more added as demand grew, along with new product lines. In Coca-Cola’s case, the JV with Parle provided access to its bottling plants and its products. By forming partnerships, both Coca-Cola and Pepsi were able to get initial access into the market.
g A wife (30 years old) spends five hours a week sending bills to her husband s customers. She is not paid for her work. She spends the rest of her time as a full-time homemaker. She would be classified as
Answer:
Housewife
Explanation:
In the given case, the wife is giving her time and energy to her husbands business and is not getting paid, thus, she has no monetary or legal relationship with the business. Also, she is a full time homemaker on the side.
Hence she will be classified as a full time homemaker or housewife because she is not getting any monetary benefit for the work she is performing.
On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $280 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. ((FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Required:
Determine the price of the bonds on September 30, 2018. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.)
Table values are based on: 40 5% Amount Present Value Cash Flow Interest Principal Price of bonds $ 220,000,000
Answer:
the price of the bond is $231,955,808
Explanation:
The computation of the price of the bond is shown below:
= Interest + principal
= ($280,000,000 × 8% × 6 months ÷ 12 months) × PVIFA factor at 5% for 40 years + ($280,000,000 × PVF factor at 5% for 40 years)
= 192,181,808+ $39,774,000
= $231,955,808
hence, the price of the bond is $231,955,808
Relationship between democracy and free market economy?
Answer:
A Market economy system is essentially a system of economic democracy, the most secure foundation of citizens' freedom. According to Mises, as soon as the economic freedom of the free market system is removed, political liberties and the legal system become fake and fade away, and democracy perishes.
Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Joshua inherited an annuity worth $6,830.77 from his uncle. The annuity will pay him eight equal payments of $1,100 at the end of each year. The annuity fund is offering a return __________
Joshua's friend, Willie, has hired a financial planner for advice on retirement. Considering Willie's current expenses and expected future lifestyle changes, the financial planner has stated that once Willie crosses a threshold of $1,387,311 in savings, he will have enough money for retirement. Willie has nothing saved for his retirement yet, so he plans to start depositing $25,000 in a retirement fund at a fixed rate of 6.00% at the end of each year. It Will take ____________ for Willie to reach his retirement goal.
Answer and Explanation:
The computation is shown below:
a)
In this we have to find the rate so we used the following formula
=RATE(NPER,PMT,-PV,FV,TYPE
=RATE(8,1100,-6830.77)
=6%
b)
In this we have to find the time period, so we used the following formula
=NPER(rate,pmt,pv,fv)
=NPER(6%,-25000,,1387311)
=25.15
In this way it should be calculated
Define and explain SMART?
Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system.
Sept. 15 Purchased merchandise with an invoice price of $77,500 and credit terms of 3/5, n/15.
Sept. 29 Paid supplier the amount owed on the September 15 purchase.
Answer and Explanation:
The journal entries are shown below;
On Sept 15
Merchandise inventory $77,500
To Accounts payable $77,500
(Being purchase of inventory is recorded)
On Sep 29
Accounts payable $77,500
To Cash $75,175
To Merchandise inventory (3% of $77,500 ) $2,325
(Being payment to suppliers after discount is recorded)