A government-mandated minimum price that is set above the market equilibrium price is a nonbinding price floor that results in an equilibrium quantity. binding price floor that results in a surplus. nonbinding price ceiling that results in an equilibrium quantity. binding price ceiling that results in a surplus.

In a sumif conditional function, what should be the order of terms in the parentheses?

What does the phrase limited liability mean in a corporate context?

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale. required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse. b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this. c. explain the difference between sale of receivables with recourse as oppose to without recourse.