A company purchased $1,800 of merchandise on july 5 with terms 2/10, n/30. on july 7, it returned $200 worth of merchandise. on july 28, it paid the full amount due. assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the purchase on july 5 is:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A company purchased $1,800 of merchandise on july 5 with terms 2/10, n/30. on july 7, it returned $200 worth of merchandise. on july 28, it ...” 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
You are comparing three investments, all of which pay $100 a month and have an interest rate of 8 percent. One is ordinary annuity, one is an annuity due, and the third investment is a perpetuity.
Answers (1)
Which of the following statements is true of job sequencing? a. It is the pattern where an individual steps off the career track or plateaus to accommodate the demands of raising children. b.
Answers (1)
What is networking in business?
Answers (1)
Rashid works for an organization in which authority is centralized, tasks and rules are clearly specified, and employees are closely supervised. Which organizational structure does this describe
Answers (1)
True or false? The " Buy one get one free" strategy is an example of distribution.
Answers (1)
New Questions in Business
A business-level strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage in specific product markets. (A) True (B) False
Answers (1)
You found a serious multicollinearity problem in your regression model. It turns out that x1 and x2 are highly correlated to each other. Therefore, you need to drop one of these variables. You also found that the correlation of y and x1 is 0.
Answers (1)
Lyndon, a citizen of Maryland, obtains a federal license to operate a commercial fishing boat in a certain area off the Maryland coast. The Maryland state legislature enacts a law that bans all commercial fishing in that area.
Answers (1)
Murphy Manufacturing estimated $100,000 in manufacturing overhead and 5,000 direct labor hours for 2016. Actual overhead for the year was $120,000 and 7,500 actual direct labor-hours were used.
Answers (1)
Under workers' compensation: a. the employee loses the right to litigation against the employer for covered incidents. b. employee fault controls compensation. c. injuries by fellow employees are not covered. d. none of the above
Answers (1)