Homework Answers
The entry would be
| No | ACCOUNT | Debit | Credit |
| 1 | Accounts Receivable | 7,566 | |
| Sales (7,800-3%) | 7,566 | ||
| 2 | Cost of Goods Sold | 5,000 | |
| Merchandise inventory | 5,000 |
.
Option D
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On September 12, Ryan Company sold merchandise in the amount of $7,800 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $7,800 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $7,800 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $5,000. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $700 and the cost of the merchandise returned is $450. The entry or entries...
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, 1/30. The cost of the items sold is $4,100. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $520 and the cost of the merchandise returned is $360. The entry or entries...
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. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $840 and the cost of the merchandise returned is $520. The entry or entries...
21 On September 12, Ryan Company sold merchandise in the amount of $6,000 to Johnson Company...
21 On September 12, Ryan Company sold merchandise in the amount of $6,000 to Johnson Company with credit terms of 2/10, 1/30. The cost of the items sold is $4100. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $520 and the cost of the merchandise returned is $360. The entry...
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, ryan On September 12. Ryan Company sold merchandise in the amount of $5.00...
on September 12, ryan
On September 12. Ryan Company sold merchandise in the amount of $5.00 Jouson Company with credits 2 /10. 30. The cost of the items sold is $4.000 Myanuses the periode inventory System and the net method of accounting for sale on September 14. Johns return some of the non-defective merchandise which is restored to inventory. These price of the returned merchandis 500 and the cost of the merchandise returned is the entry or entries that Ryan...
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...
On September 12, Ryan Company sold merchandise in the amount of $8,800 to Johnson Company, with...
On September 12, Ryan Company sold merchandise in the amount of $8,800 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $5,500. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $800 and the cost of the merchandise returned is $500. The entry or entries...
On September 12, Ryan Company sold merchandise in the amount of $6,000 to Johnson Company, with credit terms of 2/10, 1/30. The cost of the items sold is $4,100. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $520 and the cost of the merchandise returned is $360. The entry or entries...
21 On September 12, Ryan Company sold merchandise in the amount of $6,000 to Johnson Company with credit terms of 2/10, 1/30. The cost of the items sold is $4100. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the non defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $520 and the cost of the merchandise returned is $360. The entry...
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, ryan
On September 12. Ryan Company sold merchandise in the amount of $5.00 Jouson Company with credits 2 /10. 30. The cost of the items sold is $4.000 Myanuses the periode inventory System and the net method of accounting for sale on September 14. Johns return some of the non-defective merchandise which is restored to inventory. These price of the returned merchandis 500 and the cost of the merchandise returned is the entry or entries that Ryan...
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...
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