Sheffield Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at a cost of $1,031,600. At December 31, 2020, the raw materials to be purchased have a market value of $978,300. In 2021, Sheffield paid $1,031,600 to obtain the raw materials which were worth $978,300. Prepare the entry to record the purchase. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Upper a report about the decline of western investment in third world countries included this: "after years of daily flights comma several european airlines halted passenger service. foreign investment fell 400 percent during the 1990 s." what is wrong with this statement? choose the correct answer below. a. if foreign investment fell by 100 % comma it would be totally eliminated comma so it is not possible for it to fall by more than 100 %. b. the actual amount of the decrease in foreign investment is less than 100%. c. if foreign investment fell by 100%, it would be cut in half. thus, a decrease of 200% means that it would be totally eliminated, and a decrease of more than 200% is impossible. d. the statement does not mention the initial amount of foreign investment.

Andrea's opportunity cost rate is 12 percent compounded annually. how much must he deposit in an account today if he wants to receive $2,100 at the beginning of each of the next seven years? use the equation method to determine the amount.