On February 3, Smart Company sold merchandise in the amount of $4,300 to Truman Company, with credit terms of 3/10, n/30. The cost of the items sold is $2,970. Smart uses the perpetual inventory system and the gross method. Truman pays the invoice on February 8, and takes the appropriate discount.
The journal entry that Smart makes on February 8 is:

a) Cash 4,171 Sales discounts 129 Accounts receivable 4,300
b) Cash 2,890 Accounts receivable 2,890
c) Cash 4,220 Sales discounts 89 Accounts receivable 4,309
d) Cash 2,970 Accounts receivable 2,970
e) Cash 4,300 Accounts receivable 4,300

answerpublic goods;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.