Homework Answers
Under periodic inventory discount received on purchase this should be shown as purchase discount.
| Account payable | $7,600 | - |
| Purchase discount | - | $152 |
| Cash | $7,448 |
1st option.
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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 $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 $2,600 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 $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 $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 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
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...
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, Ryan Company sold merchandise in the amount of $6,800 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $6,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the merchandise. The selling price of the merchandise is $600 and the cost of the merchandise returned is $400. Johnson pays the invoice on September 18, and takes the appropriate...
On September 12, Ryan Company sold merchandise in the amount of $7.600 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $7.600 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4.900. Ryan uses the periodic inventory system and the net method of accounting for sales On September 14, Johnson returns some of the merchandise. The selling price of the merchandise is $680 and the cost of the merchandise returned is $440. Johnson pays the invoice on September 18, and takes the appropriate...
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 $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
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...
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 $7.600 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4.900. Ryan uses the periodic inventory system and the net method of accounting for sales On September 14, Johnson returns some of the merchandise. The selling price of the merchandise is $680 and the cost of the merchandise returned is $440. Johnson pays the invoice on September 18, and takes the appropriate...
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