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1. The Alpha Company purchased $2.5 million dollars of merchandized on account. P & P Products gives terms of 1%, 10days, net 20. P&P Products believes that Alpha will take the discount if the discount is equal to atleast 16% return.

P &P Products uses the net method to record sales. The transaction was not recorded by P & P Products. Assume 360 day year. Alpha paid 5 days past the discount period.

Requirement: Make any necessary entries and/ or adjustments as needed.

2. On May 1st, P & P factored $80, 000 of its account receivable to the Last Resort Finance Company. The finance company charged P & P a 5 % factor fee and withheld another 5 % for returns and allowances and sales discounts.
Required:
a) Prepare the required entries on May 1st for P & P assuming the receivable were factored without recourse.

b) Prepare the required entries on May 1st for P & P assuming the receivable were factored with recourse. P & P accepts responsibility for uncollectible accounts estimated at $2,000.

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PART A: ANSWER one OF THE FOLLOWING QUESTIONS IN 2 paragraphs. .

1. What did beliefs about God and Satan have to do with the witch crazes of the 17th century, one of which was the Salem Witch Trials? What changed to bring about an end towitch trials all over the world?
2. Explain the underlying purpose of the World’s Fairs. What did they seek to show about technology and world progress? How did the 1939 New York World’s Fair differ from it’s predecessors in achieving this goal? What did the 1939 New York World’s Fair show that contrasted with earlier fairs?
PART B: ANSWER EACH OF THE FOLLOWING QUESTIONS IN A FEW SENTENCES. EACH ANSWER IS WORTH 5 POINTS.
1. What problems with rubber had to be overcome before it could be widely used? Whose invention helped to overcome these problems?
2. In what way could African slaves maintain a degree of control over their situations as slaves and their being forced to live a foreign culture?
3. Why would the printing press have contributed so heavily to ending the Reign of Secrecy? What other effects did the printing press have during this period?
4. Why was employment as domestic servants highly satisfactory for Irish immigrants to the United States in the 1840’s and 1850’s? 5.Explain the term proto-industrialization.
6. What were the three historical factors in the twentieth century contributing to the world’s loss of confidence in the West, and why did they result in a loss of confidence in Western systems and values?
7.What did the concept of a “Clockwork Universe” have to do with the decline of witch-hunting?
8.In his book, The War of the Worlds, H.G. Wells depicted an invasion of aliens that was defeated by Earth’s microbes. Daniel Headrick offers this science fiction story as simile related to European expansion. To what real-world situation does his simile apply?
Circle the letter of the one best answer to each question. 1.
1. In both African and New World slave societies, what were duppies?
1. Duppies were the ghosts of deceased ancersors.
2. Rebellious slaves were called duppies.
3. Duppies were “tricks” that slaves played on their masters.
4. Duppies were followers of an obeah holy man.

2. For Chinese merchants, like the traders of Huizchou, salt certificates allowed merchants to purchase salt from
1. fellow merchants.
2. Mongols.
3. military garrisons.
4. government controlled salt fields.
3.In 1803, the first rubber factory in France manufactured
1. elastic garters.
2. bicycle tires.
3. overshoes.
4. waterproof capes.

4. During the Meiji restoration, American experts were employed in developing Japan’s
A. legal code.
B. military.
C. postal service.
D. railways

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1. Define and discuss “critical infrastructure.”  Include examples that can be found at local, state, and federal levels.

2. Explain how the effects of a biological attack significantly differ from those of a chemical or nuclear attack.

3. How do we protect what we need?  This week you will examine those areas defined as critical infrastructures.  What are they, and how do we secure them from attack?  How much involvement should the government have in controlling (protecting) our infrastructure when most of it is owned by private business?

4. Identify and discuss the six purposes of the performance appraisal.

5. Define and discuss disability and reasonable accommodations. How might they be different for law enforcement than general government agencies?

6. Identify and describe the sender-caused barriers, receiver-caused barriers, and other barriers in communications.

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PROJECT 5: PROBABILITY

The Problems: Misconceptions about how probability works are common. The following questions will require you to apply your mathematical reasoning skills to avoid these common mistakes.

Answer the following questions. As always, justify your answers with work or an explanation.

(1) On his way to work every day, Maxwell passes two traffic lights. After many commutes, he notices that there seems to be around a 50% chance of being stopped at the first light. He also notices that there does not seem to be any relation between the two lights. Regardless of whether or not he must stop at the first, the probability that he is stopped at the second light is also around 50%.
(2) Suppose you flip a fair coin four times in a row. Consider the following two possible outcomes.

Flip number 1st 2nd 3rd 4th
Side H H H H

Flip number 1st 2nd 3rd 4th
Side H T T H

Lawrence believes that the first outcome (flipping 4 heads in a row) is less likely to occur than the second outcome. Is Lawrence right or wrong? To answer the question, calculate the probability of each of these two outcomes.
(3) Imagine the following game. You are offered two hats that are filled with marbles all of the same size. Hat A contains 25 marbles, exactly 10 of which are red. Hat B contains exactly 30 red marbles. In this game, you first pick either hat A or hat B. You then choose one marble at random from the hat that you picked. If you choose a red marble, then you win. Your goal is to determine which hat you should pick to maximize your probability of winning.

(a) Explain why you do not have enough information to decide which hat to pick. What additional data do you need to know?
(b) Hat B contains 30 red marbles while hat A only contains 10, so many people would decide to play this game with hat B without further thought. However, that is not always the best choice. Think back to the additional information that you decided was needed in part (a). Give an example of a specific value for this extra data that would cause you to be more likely to win by picking hat A.
(4) A one-hundred-year flood is a flood that is so severe that it is only expected to occur on average once every 100 years. More formally, in a given year, the probability of a one-hundred-year flood occurring is 1/100 =1%.

(a) A certain river has not reached its one-hundred-year flood level in the past 99 years. What is the probability that it will reach its one- hundred-year flood level during the next year?
(b) A different river reached its one-hundred-year flood level last year. What is the probability that this river will reach its one-hundred-year flood level again during this year?
(5) Every year, approximately 100 drivers hit a deer in Hawaii.

(a) The current U.S. population is approximately 319 million. Compute the probability that a randomly chosen American will have crashed 
into a deer in Hawaii in the past year.
(b) Consider the probability that you found in part (a). Does this give 
the probability that you will hit a deer in Hawaii during the next year? Do you expect your probability of hitting a deer in Hawaii to be greater than, less than, or the same as the probability that you computed in part (a)? Justify your answers with an explanation.