A broker followed the instructions in an escrow disbursement order. However, one of the parties to the contract sued the broker

Answer:

Explanation:

a. On March 2

Debiting Accounts Receivable A/c $$887,400

                                             Crediting Sales A/c $$887,400

(Recognizing the sale of inventory at sale price)

Debiting Cost of Goods Sold A/c $

                    Crediting Merchandise Inventory A/c $571,700

(Recognizing merchandise sold at cost)

b. On March 8

Debiting Sales Return and Allowance A/c  $103,200

                                 Crediting Accounts Receivable  $103,200

(Recording the sales return)

Debiting Merchandise Inventory A/c  $62,500

                                        Crediting Cost of Goods Sold A/c  $62,500

(Recording the sales return)

c. On March 12

Debiting Cash A/c $768,516

Debiting Sales Discounts A/c $15,684

         Crediting Accounts Receivable A/c $784,200

(Recording cash received)

Calculating the balance owed is as follows:

= Sale of inventory - Returns

= $887,400 - $103,200

= $784,200

And the discount = $784,200 × 2% = 15,684

Answer:

Option D is the correct response.

Clarification:

McDonald has performed market competition analysis revealing insights into competitors and shifts in consumer preferences and responses to promotions. This analysis aids in understanding the quality differentiators between products from competing firms.

In this context, McDonald undertook this analysis to better comprehend competitors' strategies and advancements to stay competitive. Through this investigative process, McDonald identified that Burger King managed to reduce its costs by utilizing lower-quality logistics.

​The donation of​ 5% of Target's annual revenue towards community initiatives exemplifies​ social responsibility.

This concept of social responsibility involves ethical obligations and civic duty. Through these contributions, Target enhances societal well-being while balancing its growth with community welfare.