In 2018, the internal auditors of development technologies, inc., discovered that a $5.9 million purchase of merchandise in 2018 was recorded in 2017 instead. the physical inventory count at the end of 2017 was correct. assume the company uses a periodic inventory system. required: prepare the journal entry needed in 2018 to correct the error. (ignore income taxes.) (enter your answers in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.5). if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)no event general journal debit credit1 1 miscellaneous expense 5.9 1 no journal entry required5. note the journal entries are not retained earnings or inventory, the system says it is wrong.

What factors excluding price affect demand

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate