You sell $1 million of microprocessors to one of your customers on account. After opening the boxes that you sent, your customer discovers that many of the microprocessors are damaged, so you offer them a partial refund of 10%. The next da they pay their remaining balance in full. Which is part of the correct journal entry that you should record at the time that the customer makes their payment? O DEBIT to Cash of $100,000 O CREDIT to Accounts Receivable of $900,000 O CREDIT to Accounts Payable of $900,000

You make deposits into your bank account, as follows: Right now (beginning of year 1) End of year 2 End of year 7 Rate paid by bank at end of each year After your last deposit you leave your money in the bank 3 years. What will your ending balance be at the end of year ten? A Between 2,000 and 3,000 B Between 3,000 and 3,700 C Between 3,700 and 4,200 D Between 4,200 and 5,000 1,100 323 481 4.5%

Tom&Dick sells computer software. All credittransactions are done through credit cards, so there is a100% probability of receiving the money, but there is await of up to 10 days while the transaction is beingprocessed. When Tom&Dick prepares financialstatements at the end of its first business year, it should*a. exclude accounts receivable, because customersmay not pay b. include accounts receivable as an assetbecause of the matching principle c. exclude accountsreceivable as the amount is variable with interest ratesd. include accounts receivable as an asset because ofthe cost principle e. none of the above

Springer Products wishes to borrow ​$90,000 from a local bank using its accounts receivable to secure the loan. The​ bank's policy is to accept as collateral any accounts that are normally paid within 30 days of the end of the credit​ period, as long as the average age of the account is not greater than the​ customer's average payment period. ​ Springer's accounts​ receivable, their average​ ages, and the average payment period for each customer are shown in the following​ table: Customer Accounts Receivable Average age of account     Average payment period of customer A ​$11,000   42 days   50 days   B ​$25,000   70 days   65 days   C ​$10,000   48 days   45 days   D ​$28,000   55 days   50 days   E ​$14,000   50 days   60 days   F ​$19,000   21 days   35 days   G ​$30,000   10 days   30 days   H ​$16,000   25 days   40 days…