Oriole Co. uses the gross method to record sales made on credit. On July 1, 2020, it made sales of 56,000 with terms 2/10 n/30. On July 9, 2020, Oriole received full payment for the July 1 sale. Prepare the required journal entries for Oriole Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Oriole Co. uses the gross method to record sales made on credit. On July 1, 2020, it made sales of 56,000 with terms 2/10 n/30. On July 9, ...” 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
Money and promotion are examples of which theory that guides behavior? A) Biological B) External Reward C) Both D) Neither
Answers (1)
Tonya runs a bakery and she wants to attract new customers. she publishes an ad in a community newspaper indicating that the first 200 people who come in on monday the 24th of august can buy a muffin for just $1 if they arrive between 9:00 am and
Answers (1)
Rather than compete with large greeting card companies for shelf space in supermarkets, several smaller card companies place their cards in pack-and-ship stores where the customer can mail a card on the spur of the moment, and in racks in car washes
Answers (1)
The Macro Islands can produce either 250 bamboo towels or 500 botanical soaps using all its resources. The Micro Islands can produce either 30 bamboo towels or 300 botanical soaps using all its resources.
Answers (1)
What are the factors which effect credit risk?
Answers (2)
New Questions in Business
During its first and second years of operations, Rogers Company, a corporation using a periodic inventory system, made undiscovered errors in taking its year-end inventories that overstated year 1 ending inventory by $80,000 and overstated year 2
Answers (1)
3 Which of the following is a contribution of ancient Roman culture?
Answers (1)
Kevin and Maria are building their portfolios. Kevin purchases shares in a mutual fund and pays fees to a manager who actively manages the mutual fund's portfolio.
Answers (1)
Beth has just been hired as a cocktail waitress. she must be certified as a seller-server within:
Answers (1)
Ashbury Corporation reports 2016 and 2017 total revenues of $90.0 million and $100.8 million respectively. If we expect prior growth to persist, we would forecast a revenue growth rate of:A. 15%B. 12%C. 24%D. 9%E. None of the above
Answers (1)