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
Assume the following information about the market and JumpMasters' stock. JumpMasters' beta = 1.50, the risk-free rate is 3.50%. Te market risk premium, i. e. the market return in excess of the risk free rate is 10%.
Answers (1)
X-Tel budgets sales of $60,000 for April, $100,000 for May, and $80,000 for June. In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale.
Answers (1)
If the absolute value of the price elasticity of demand for a good is. 75, the demand for that good is described asa. normal. b. elastic. c. inferior. d. inelastic.
Answers (1)
A catering service offers 10 appetizers, 11 main courses, and 3 desserts. A customer is to select 6 appetizers, 8 main courses, 2 and desserts for a banquet. In how many ways can this be done
Answers (1)
Which computer applications can Mr. Crowell use to make the classroom learning more stimulating and interesting
Answers (1)
New Questions in Business
Sales and commission are based on selling price, not the costs you have been provided. Labor: 13.8 hours at 18.75 per hour Overhead: 92% of labor Material Costs: $65.
Answers (1)
When airbnb customers in malibu start paying hotel taxes, this will have the potential to raise the equilibrium price in this market and, therefore, decrease efficiency.
Answers (1)
Curtain Co. paid dividends of $14,000; $17,500; and $21,000 during Year 1, Year 2, and Year 3, respectively. The company had 2,400 shares of 7.0%, $100 par value preferred stock outstanding that paid a cumulative dividend.
Answers (1)
In order to accomplish the productivity plan, several Subject Matter Experts from various parts of the organizational have been enlisted. As a result, you have noticed friction and conflict among team members.
Answers (1)
The bond has a coupon rate of 6.83 percent, it makes semiannual payments, and there are 4 months to the next coupon payment. A clean price of $1,049 and the par value is $1,000. What is the invoice price
Answers (1)