At FolktownFolktown Arts, gross sales for the monthincluded:

Sales on account (3/10, n/30) $120,000

Credit Card Sales (2% credit card fee) $150,000

Requirement 1. Journalize the sales onaccount, the credit card sales, and the cash payments on account received during the month. (Use the gross method to record the sales transactions. Record debits first, then credits. Exclude explanations from any journal entries.)

First, record the sales on account.

Next, record the credit card sales.

Now, record the cash payments on account received during the month. (Prepare a compound entry for all cash payments on account received during the month.) ( Can you explain how you calculated the sales discount)

Requirement 2: Calculate the net sales revenue for the month.

Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .

If you miss two payments on a credit card what is generally the penalty

Which of the following is an example of an unsought good? a. cameron purchases a new bike. b. jordan buys paper towels. c. taylor buys cupcakes from her favorite bakery. d. riley buys new windshield wipers for her car.