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Sun Inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. What would be recorded as a gain (loss) on the transfer of receivables?

Equestrain Roads sold $120,000 of goods and accepted the customer’s $120,000 10%, 1-year note receivable in exchange. Assuming 10% approximates the market rate of return, what would be the debit in this journal entry to record the sale?

A possible mechanism for the overall reaction Br2 (g) + 2NO (g) → 2NOBr (g)is NO (g) + Br2 (g) NOBr2 (g) (fast) NOBr2 (g) + NO (g) 2NOBr (slow)The rate law for formation of NOBr based on this mechanism is

In forming covalent bonds where the octet rule is obeyed, sulfur usually forms _____ bonds and chlorine usually forms _____ bonds.

Given the historical cost of product Z is $20, the selling price of product Z is $25, costs to sell product Z are $3, the replacement cost for product Z is $21, and the normal profit margin is 40% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method?

Consider the following hypothetical equilibrium reaction: A2(g) + B2(g) ⇌ 2AB(g) where Kc = The equilibrium constant for the reaction: 2 A2(g) + 2 B2(g) ⇔ 4 AB(g) is ________.

Black Corporation uses the FIFO method for internal reporting purposes and LIFO for external reporting purposes. The balance in the LIFO Reserve account at the end of 2020 was $280,000. The balance in the same account at the end of 2021 is $420,000. Black’s Cost of Goods Sold account has a balance of $2,100,000 from sales transactions recorded during the year. What amount should Black report as Cost of Goods Sold in the 2021 income statement?

Niles Co. has the following data related to an item of inventory: Inventory, March 1             400 units @ $2.10 Purchase, March 7          1,400 units @ $2.20 Purchase, March 16           280 units @ $2.25 Inventory, March 31          520 units The value assigned to cost of goods sold if Niles uses FIFO is

Niles Co. has the following data related to an item of inventory: Inventory, March 1              400 units @ $2.10 Purchase, March 7            1,400 units @ $2.20 Purchase, March 16             280 units @ $2.25 Inventory, March 31            520 units The value assigned to ending inventory if Niles uses LIFO is

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