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12. Livingston Company sells merchandise on account for $6,000 to Briggs Inc. on April 10 with...
11. Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of...
11. Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of 1/10, 30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. Whatentry does Baker Company make upon receipt of the check? 4,400 4.400 Accounts Receivable Cash Sales Returns and Allowances Accounts Receivable 4,356 600 44 5,000 d Sales Returns and Allowances. Sales Discounts. Accounts Receivable...... Cash .................. Sales Discounts....................... Sales Returns and...
Multiple Choice Question 101 Your answer is incorrect. Try again. Marigold Company sells merchandise on account...
Multiple Choice Question 101 Your answer is incorrect. Try again. Marigold Company sells merchandise on account for $4600 to Cullumber Company with credit terms of 1/10, n/30. Cullumber Company retus $400 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Marigold Company make upon receipt of the check? Cash 4158 Sales Returns and Allowances 442 Accounts Receivable 4600 Cash 4200 Accounts Receivable 4200 Cash 4158 400 42 Sales Returns...
1.Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of 1/10,...
1.Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of 1/10, 1/30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Baker Company make upon receipt of the check? 4,400 4,400 4,356 644 5,000 a. Cash ......... Accounts Receivable........... b. Cash ........... Sales Returns and Allowances............. Accounts Receivable.......... c. Cash.. Sales Returns and Allowances........... Sales Discounts. Accounts Receivable....... d. Cash..............
1.An aging of a company's accounts receivable indicates that $13.000 are estimated to be uncollectible. If Allowanc...
1.An aging of a company's accounts receivable indicates that $13.000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1.200 credit balance, the adjustment to record bad debts for the period will require a a. debit to Bad Debt Expense for $13,000. b. debit to Allowance for Doubtful Accounts for $11,800. c. debit to Bad Debt Expense for $11,800. d. credit to Allowance for Doubtful Accounts for $13,000. 2.Cost of goods sold is determined only at the...
anything helps 35. Brian Company sells company sells merchandise on account for $1.800 to Samantha Compa...
anything helps
35. Brian Company sells company sells merchandise on account for $1.800 to Samantha Compa the Company with credit terms of 2/10, 1/30. Samantha Company returns S300 of me that was damage la Company returns S300 of merchandise wat was damaged, along with a check to settle the account within the period. What is the amount of the check? A) $1,470 B) $1,476 C) $1,350 D) $1,464 36. Jones Outfitters sold S5,000 in merchandise to a customer on credit....
Part II 7. Holt Company sells merchandise on account for $4,000 to Jones Company with...
Part II 7. Holt Company sells merchandise on account for $4,000 to Jones Company with credit terms of 2/10, n/30. Jones Company returns $500 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? 8. The collection of a $10500 account after the 2 percent discount period will result in a credit to: 9. The collection of a $600 account after the...
21. Cosmos Company on July 15 sells merchandise on account to Cajon Co. for $6,000, terms...
21. Cosmos Company on July 15 sells merchandise on account to Cajon Co. for $6,000, terms 2/10, n/30. On July 20 Cajon Co. returns merchandise worth $1,000 to Cosmos Company. On July 24 payment is received from Cajon Co. for the balance due. What is the amount of cash received? a. $4,800 b. $4,900 c. $5,000 d. $6,000 22.Which of the following would require a compound journal entry? a. To record merchandise returned that was previously purchased on account. b....
Question 1 Crane Company made a purchase of merchandise on credit from Wildhorse Company on August...
Question 1 Crane Company made a purchase of merchandise on credit from Wildhorse Company on August 8, for $9400, terms 2/10, n/30. On August 17, Crane makes payment to Wildhorse. The entry on August 17 for Crane Company is: Accounts Payable Cash 9400 9400 9212 9212 Accounts Payable Cash Accounts Payable Inventory Cash 9400 9212 9400 Accounts Payable Purchase Returns and Allowances Cash 188 9212 Click if you would like to Show Work for this question: Open Show Work Question...
20. The collection of a $500 account beyond the 2 percent discount period would result in...
20. The collection of a $500 account beyond the 2 percent discount period would result in a A) credit to Cash for $500. B) debit to Cash for $490. C) debit to Sales Discounts for $10. D) Creditto Accounts Receivable for $500. 21. Goods totaling $5,000 purchased February 2 on terms of 2/10, n/30 and on which returns of $1,000 were made on February 10 would be subject to which of the following discounts if paid for on February 12?...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a cost of 54.000 for $5.500 to a customer on account with forms of 415, 30 Which of the following umalis correctly records the payment received from the customer on April 2017 5,280 220 5.500 5.280 O A Cash Sales Discounts Forted Accounts Receivable O Cash Accounts Receivable Ос. Cash Accounts Receivable Sales Discounts Ford OD Cash Accounts Receivable 5.500 5.280 220 5.500 5.500
11. Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of 1/10, 30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. Whatentry does Baker Company make upon receipt of the check? 4,400 4.400 Accounts Receivable Cash Sales Returns and Allowances Accounts Receivable 4,356 600 44 5,000 d Sales Returns and Allowances. Sales Discounts. Accounts Receivable...... Cash .................. Sales Discounts....................... Sales Returns and...
Multiple Choice Question 101 Your answer is incorrect. Try again. Marigold Company sells merchandise on account for $4600 to Cullumber Company with credit terms of 1/10, n/30. Cullumber Company retus $400 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Marigold Company make upon receipt of the check? Cash 4158 Sales Returns and Allowances 442 Accounts Receivable 4600 Cash 4200 Accounts Receivable 4200 Cash 4158 400 42 Sales Returns...
1.Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of 1/10, 1/30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Baker Company make upon receipt of the check? 4,400 4,400 4,356 644 5,000 a. Cash ......... Accounts Receivable........... b. Cash ........... Sales Returns and Allowances............. Accounts Receivable.......... c. Cash.. Sales Returns and Allowances........... Sales Discounts. Accounts Receivable....... d. Cash..............
1.An aging of a company's accounts receivable indicates that $13.000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1.200 credit balance, the adjustment to record bad debts for the period will require a a. debit to Bad Debt Expense for $13,000. b. debit to Allowance for Doubtful Accounts for $11,800. c. debit to Bad Debt Expense for $11,800. d. credit to Allowance for Doubtful Accounts for $13,000. 2.Cost of goods sold is determined only at the...
anything helps
35. Brian Company sells company sells merchandise on account for $1.800 to Samantha Compa the Company with credit terms of 2/10, 1/30. Samantha Company returns S300 of me that was damage la Company returns S300 of merchandise wat was damaged, along with a check to settle the account within the period. What is the amount of the check? A) $1,470 B) $1,476 C) $1,350 D) $1,464 36. Jones Outfitters sold S5,000 in merchandise to a customer on credit....
21. Cosmos Company on July 15 sells merchandise on account to Cajon Co. for $6,000, terms 2/10, n/30. On July 20 Cajon Co. returns merchandise worth $1,000 to Cosmos Company. On July 24 payment is received from Cajon Co. for the balance due. What is the amount of cash received? a. $4,800 b. $4,900 c. $5,000 d. $6,000 22.Which of the following would require a compound journal entry? a. To record merchandise returned that was previously purchased on account. b....
Question 1 Crane Company made a purchase of merchandise on credit from Wildhorse Company on August 8, for $9400, terms 2/10, n/30. On August 17, Crane makes payment to Wildhorse. The entry on August 17 for Crane Company is: Accounts Payable Cash 9400 9400 9212 9212 Accounts Payable Cash Accounts Payable Inventory Cash 9400 9212 9400 Accounts Payable Purchase Returns and Allowances Cash 188 9212 Click if you would like to Show Work for this question: Open Show Work Question...
20. The collection of a $500 account beyond the 2 percent discount period would result in a A) credit to Cash for $500. B) debit to Cash for $490. C) debit to Sales Discounts for $10. D) Creditto Accounts Receivable for $500. 21. Goods totaling $5,000 purchased February 2 on terms of 2/10, n/30 and on which returns of $1,000 were made on February 10 would be subject to which of the following discounts if paid for on February 12?...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a cost of 54.000 for $5.500 to a customer on account with forms of 415, 30 Which of the following umalis correctly records the payment received from the customer on April 2017 5,280 220 5.500 5.280 O A Cash Sales Discounts Forted Accounts Receivable O Cash Accounts Receivable Ос. Cash Accounts Receivable Sales Discounts Ford OD Cash Accounts Receivable 5.500 5.280 220 5.500 5.500
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