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16, 16, 19 & 20. pls help on all four Under the perpetual inventory system, in addition to making the entry to record a sale,
16, 16, 19 & 20. pls help on all four
Under the perpetual inventory system, in addition to making the entry to record a sale, a company would a. record a decrease in inventory and an increase in cost of goods sold for the cost of the merchandise. b. record an increase in inventory corresponding to the amount of the sale c. record an increase in inventory corresponding to the cost of the inventory d. make no additional entry until the end of the period Dakota Sales received a $5,000,8%,90-day promissory note when selling its equipment. On the maturity date, how much payment should Dakota Sales receive in total? a. $5,100 b. $5,000 c. $5,175 d. $5,050 Which of the following is not part of the internal control activities? a. Separation of duties b. Risk assessment c. Proper authorization d. Physical controls Bad Debt/Uncollectible Accounts Expense should be recorded a. whenever an account is written off as uncollectible. b. each time a credit sale is made. c. whenever an account written off is recovered. d. at the end of each accounting period Step by Step Solution
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