Record the journal entry or entries for each of the following sales transactions. a. Glow Industries sells 280 strobe lights at $50 per light to a customer on May 9.
b. The cost to Glow is $23 per light. The terms of the sale are 5/15, n/40, invoice dated May 9.
c. On May 13, the customer discovers 60 of the lights are the wrong color and are granted an allowance of $10 per light for the error.
d. On May 21, the customer pays for the lights, less the allowance. Assume the gross method and a periodic inventory system is used.

Which of the following best describes why you need to establish goals for your program?

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?

In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?