Stanford reported net sales of $8,600 million, net income of $126 million and average accounts receivable of $890 million. Its accounts receivable turnover is:

Horizontal analysis is the comparison of a company’s financial condition and performance to a base amount.

Prior to recording adjusting entries, the Office Supplies account had a $359 debit balance. A physical count of the supplies showed $105 of unused supplies available. The required adjusting entry is:

A double-entry accounting system is an accounting system:

Trekker Bikes’ current assets are $300 million and its current liabilities are $125 million. Its current ratio is 0.417.

Dental Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. What entry should Dental Supply make on December 31, to record the accrued interest on the note?

Cardarelli Corporation reported Net sales of $3.6 million and average Total assets of $1.1 million. The Total asset turnover is:

A double-entry accounting system is an accounting system:

General accounting principles stem from long-used accounting practices.

Beats, Inc. uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The correct journal entry to record the merchandise return on August 11 is: