Professor Urquhart showed several animals from his trip to South Africa. Which of the following animals did Professor Urquhart not show a picture of?

Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on January 15 of the next year when the note is paid? (Assume reversing entries are not made.) (Use 360 days a year.)

Purchase returns refer to merchandise a buyer acquires but then returns to the seller.

The accounts receivable turnover is calculated by dividing average accounts receivable by net sales.

The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense reports the following selected amounts:           Accounts receivable $ 435,000 Debit Allowance for Doubtful Accounts   1,250 Credit Net Sales   2,100,000 Credit All sales are made on credit. Based on past experience, the company estimates 3.5% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?  

Lemming makes an $18,750, 120-day, 8% cash loan to Notions Co. on November 1. Lemming’s end-of-period adjusting entry on December 31 should be:

A company had sales of $350,000 and cost of goods sold of $200,000. Its gross profit equals $150,000.

A bank does not issue a debit memorandum to notify the depositor of which of the following?

Clearly establishing responsibilities and assigning all accounting activities to one person is an important principle of internal control.

The internal document prepared to notify the appropriate persons that goods ordered have been received, describing the quantities and condition of the goods is the: