During the current year, Martinez Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Original
Cost Residual
Value Estimated
Life Accumulated
Depreciation
(straight-line)
Machine A $ 76,200 $ 4,200 15 years $ 62,400 (13 years)
Machine B 20,000 2,000 8 years 13,500 (6 years)
The machines were disposed of in the following ways:
a. Machine A: Sold on January 2 for $20,000 cash.
b.
Machine B: On January 2, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost.
Required:
1. & 2.
Prepare the journal entries related to the disposal of Machine A and B on the January 2 of the current year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

One investigating company tracked all credit card purchase during 2012 and measured two variables: (1) the type of credit card used (visa, mastercard, american express, or discover), and (2) the amount (in dollars) of each purchase. identify the level of each variable measured.

Recently, verizon wireless ran a pricing trial in order to estimate the elasticity of demand for its services. the manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. one week later, the number of customers enrolled in verizon's cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. the manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company's 2016 annual revenues. one year later, the manager was perplexed because verizon's 2016 annual revenues were 10 percent lower than those in 2015"the price increase apparently led to a reduction in the company's revenues. did the manager make an error? yes - the one-week measures show demand is inelastic, so a price increase will decrease revenues. yes - the one-week measures show demand is elastic, so a price increase will reduce revenues. yes - cell phone elasticity is likely much larger in the long-run than the short-run. no - the cell phone market must have changed between 2011 and 2012 for this price increase to lower revenues.

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.