On september 12, vander company sold merchandise in the amount of $5,800 to jepson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. jepson uses the periodic 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:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On september 12, vander company sold merchandise in the amount of $5,800 to jepson company, with credit terms of 2/10, n/30. the cost of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Be-The-One has assets of $395,000 and liabilities of $97,000. Using the accounting equation, determine the following amounts: a.
Answers (1)
Why might an accountant user not see the Exceptions to closing date report in a Quickbooks online company
Answers (1)
The Western and Pacific Railroad has two divisions, the Western Division and the Pacific Division. The company recently invested $7,100,000 to maintain its railroad track.
Answers (1)
During the current month, Grey Company sold 60,000 units for $10 each. Each unit had an equivalent cost of $6 each. The journal entry to record the sale would include which of the following? Cost of Goods Sold 360,000 Finished Goods 360,000
Answers (1)
In the current year, Generous University awarded scholarships to graduate students in the amount of $5,000,000. The recipients are not required to provide any services in return for the scholarships. How should the university record the award?
Answers (1)
New Questions in Business
An investor believes that interest rates are peaking and wishes to buy long term fixed income securities that will assure the investor of receiving periodic payments at today's rates. The best recommendation is high grade: A. zero-coupon bonds B.
Answers (1)
On January 1, Year 1, Boston Group issued $100,000 par value, 5% 5-year bonds when the market rate of interest was 8%. Interest is payable annually on December 31.
Answers (1)
Having low credit score can make it more difficult to
Answers (1)
A group of users in the Research Department has access to sensitive company information, so you want to be sure that the group members' passwords are strong with a minimum length of 12 characters and a requirement to change their passwords every 30
Answers (1)
William wants to have a total of $8000 in two years so that he can put a hot tub on his deck. He finds an account that pays 5% interest compounded monthly.
Answers (1)