In each of the following sentences, select the appropriate answer option as debitor credit

1. Revenue accounts normally have balances. These accounts increase on the side and decrease on the side.

2. Liability accounts normally have balances. These accounts increase on the side and decrease on the side.

3. Expense accounts normally have balances. These accounts increase on the side and decrease on the side.

4. Asset accounts normally have balances. These accounts increase on the side and decrease on the side.

5. The owner capital account normally has a balance. This account increases on the side and decreases on the side.

Suppose jamal purchases a pair of running shoes online for $60. if his state has a sales tax on clothing of 6 percent, how much is he required to pay in state sales tax?

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?