On october 6, 2018, the elgin corporation signed a purchase commitment to purchase inventory for $81,000 on or before march 31, 2019. the company's fiscal year-end is december 31. the contract was exercised on march 21, 2019, and the inventory was purchased for cash at the contract price. on the purchase date of march 21, the market price of the inventory was $61,000. the market price of the inventory on december 31, 2018, was $70,000. the company uses a perpetual inventory system.
1. prepare the necessary adjusting journal entry (if any is required) on december 31, 2018
2. prepare the journal entry to record the purchase on march 21, 2019

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

When using various forms of promotion to carry the promotion message, it is important that the recipients of the message interpret it in the same way. creating a unified promotional message, where potential customers perceive the same message, whether it is in a tv commercial, or on a billboard, or in a blog, is called

Areal estate agent is considering changing her cell phone plan. there are three plans to choose from, all of which involve a monthly service charge of $20. plan a has a cost of $.42 a minute for daytime calls and $.17 a minute for evening calls. plan b has a charge of $.52 a minute for daytime calls and $.15 a minute for evening calls. plan c has a flat rate of $80 with 275 minutes of calls allowed per month and a charge of $.38 per minute beyond that, day or evening. a. determine the total charge under each plan for this case: 150 minutes of day calls and 70 minutes of evening calls in a month. (do not round intermediate calculations. round your answer to 2 decimal places. omit the "$" sign in your response.)c. if the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal? (round each answer to the nearest whole number. include the indifference point itself in each answer.)d. suppose that the agent expects both daytime and evening calls. at what point (i. e., percentage of total call minutes used for daytime calls) would she be indifferent between plans a and b?