On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, 1/30, the cost of the items sold is $4,000. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is: Multiple Choice 5,800 Purchases Accounts payable 5,800 Merchandise inventory 0 5 Accounts payable,800 Purchases Accounts receivable 4,000 4,000
Homework Answers
The entry would be
| Debit | Credit | |
| Purchases | 5,800 | |
| Accounts Payable | 5,800 |
Option A is the answer
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On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company
On September 12. Vander Company sold merchandise in the amount of $5,800 to Jepson Company with credit terms of 270, 1/30
On September 12. Vander Company sold merchandise in the amount of $5,800 to Jepson Company with credit terms of 270, 1/30. The cost of the items sold is $4,000. Jepson uses the periode inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Jepson makes on September 18 is
On September 12, Vander Company sold merchandise in the amount of $2,000 to Jepson Company, with...
On September 12, Vander Company sold merchandise in the amount of $2,000 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $1,380. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $170 and the cost of the merchandise returned is $120. Jepson pays the invoice on September 18, and takes the appropriate...
On September 12, Vander Company sold merchandise in the amount of $6,200 to Jepson Company, with...
On September 12, Vander Company sold merchandise in the amount of $6,200 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,400. Vander uses the periodic inventory system and the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is Multiple Choice Sales 6,200 Accounts receivable 6,200 Cost of goods sold 4,400 Merchandise Inventory 4,400 Accounts receivable 6,200 Sales 6,200 Cost of goods sold...
On September 12, Vander Company sold merchandise in the amount of $2,600 to Jepson Company, with...
On September 12, Vander Company sold merchandise in the amount of $2,600 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $1,800. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $225 and the cost of the merchandise returned is $160. Jepson pays the invoice on September 18, and takes the appropriate...
On September 12th Vander company sold merchandise in the amount of 5800. jepson Company with credit...
On September 12th Vander company sold merchandise in the amount of 5800. jepson Company with credit terms of 2/10 in / 30 the cost of the items sold as 4000 Jepsen uses the periodic inventory system and the gross method of accounting for purchases Jepsen pays the invoice on September 18th and take the appropriate discount.
On September 12. Vander Company sold merchandise in the amount of $2600 to Jepson Company with...
On September 12. Vander Company sold merchandise in the amount of $2600 to Jepson Company with credit terms of 2/0 /30 The cost of the besos $4900Jepson uses the periode inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September and takes the appropriate court The jumal try that com es on September
On September 12, Ryan Company sold merchandise in the amount of $9,200 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $9,200 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $5,700. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is: Multiple Choice Merchandise inventory 5,700 Accounts payable 5,700 Merchandise inventory 8,924 Accounts payable 8,924 Purchases 8,924 Accounts payable 8,924 Purchases 9,200 Accounts payable 9,200 Accounts payable...
On September 12, Ryan Company sold merchandise in the amount of $8,400 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $8,400 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $5,300. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is: Multiple Choice 8,488 Purchases Accounts payable 8.400 8,232 Purchases Accounts payable O 8,232 Merchandise inventory Accounts payable 8,232 O Merchandise inventory Accounts payable 5,300 5,300 O...
Please explain the process, thank you! Saved Help Save & Exit On September 12, Vander Company...
Please explain the process, thank you!
Saved Help Save & Exit On September 12, Vander Company sold merchandise in the amount of $4.200 to Jepson Company, with credit terms of 2/10, n/30. The cost of $2,900. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jep selling price of the merchandlse is $360 and the cost of the merchandise returned is $250. Jepson pays the invoice on September 13,and takes the appropriate...
On September 12, Ryan Company sold merchandise in the amount of $6,000 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $6,000 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,100. Johnson uses the periodic inventory system and the net method of accounting for purchases. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Johnson makes on September 18 is: Multiple Choice Accounts payable 4,100 Merchandise inventory 82 Cash 4,018 Purchases 5,880 Cash 5,880 Accounts...
On September 12, Vander Company sold merchandise in the amount of $6,200 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,400. Vander uses the periodic inventory system and the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is Multiple Choice Sales 6,200 Accounts receivable 6,200 Cost of goods sold 4,400 Merchandise Inventory 4,400 Accounts receivable 6,200 Sales 6,200 Cost of goods sold...
On September 12, Vander Company sold merchandise in the amount of $2,600 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $1,800. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $225 and the cost of the merchandise returned is $160. Jepson pays the invoice on September 18, and takes the appropriate...
On September 12. Vander Company sold merchandise in the amount of $2600 to Jepson Company with credit terms of 2/0 /30 The cost of the besos $4900Jepson uses the periode inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September and takes the appropriate court The jumal try that com es on September
On September 12, Ryan Company sold merchandise in the amount of $8,400 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $5,300. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is: Multiple Choice 8,488 Purchases Accounts payable 8.400 8,232 Purchases Accounts payable O 8,232 Merchandise inventory Accounts payable 8,232 O Merchandise inventory Accounts payable 5,300 5,300 O...
Please explain the process, thank you!
Saved Help Save & Exit On September 12, Vander Company sold merchandise in the amount of $4.200 to Jepson Company, with credit terms of 2/10, n/30. The cost of $2,900. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jep selling price of the merchandlse is $360 and the cost of the merchandise returned is $250. Jepson pays the invoice on September 13,and takes the appropriate...
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