On July 22, Peter sold $23,500 of inventory items on credit with the terms 2/15, net 30. Payment on $15,000 sales was received on August 1 and the remaining payment was received on August 12. Assuming Peter uses the gross method of accounting for sales discounts, which entries was made on August 1 to record the cash received?

Northington, inc. is preparing the company's statement of cash flows for the fiscal year just ended. using the following information, determine the amount of cash flows from operating activities using the indirect method: net income$182,000gain on the sale of equipment12,300proceeds from the sale of equipment92,300depreciation expense—equipment50,000payment of bonds at maturity100,000purchase of land200,000issuance of common stock300,000increase in merchandise inventory35,400decrease in accounts receivable28,800increase in accounts payable23,700payment of cash dividends32,000 $189,400.$332,200.$236,800.$261,400.$186,800.

Which of the following is a problem for the production of public goods?

Your grandmother told you a dollar doesn't go as far as it used to. she says the purchasing power of a dollar is much lesser than it used to be. explain what she means. try and use and explain terms like inflation and deflation in your answer.