The operating revenue remaining after cost of merchandise sold has been deducted is:

Describe at least four ways you can take money out of a checking account

Which of the following is an example of groupthink? select one: a. the five officers of tricom are planning a venture they know to be highly profitable. two know the plan to be illegal. nevertheless, they do not voice their concerns, but go along with the team's plan b. the five officers of tricom devise a highly profitable plan. tim, the cfo, points out to the group that the plan will likely garner the company a good deal of negative publicity. tim states that he will not endorse the team's plan c. jim, dean and dax draw up plans for a new printing company. they have all thought through their plans and no one has any criticisms or concerns d. two africans approach a motor company for a dealership. the company informs them that the vast majority of black dealers are not successful in making a profit they convince the africans against making the deal

In march 2018, the phillips tool company signed two purchase commitments. the first commitment requires phillips to purchase inventory for $110,000 by june 15, 2018. the second commitment requires the company to purchase inventory for $160,000 by august 20, 2018. the company's fiscal year-end is june 30. phillips uses a periodic inventory system. the first commitment is exercised on june 15, 2018, when the market price of the inventory purchased was $90,000. the second commitment was exercised on august 20, 2018, when the market price of the inventory purchased was $125,000. required: prepare the journal entries required on june 15, june 30, and august 20, 2018, to account for the two purchase commitments. assume that the market price of the inventory related to the outstanding purchase commitment was $144,000 at june 30. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)