Question
1-Stark Industries made a $10,000 sale on account with the terms 2/10, n/30. If Stark Industries uses the net method to record sales made on
1-Stark Industries made a $10,000 sale on account with the terms 2/10, n/30. If Stark Industries uses the net method to record sales made on credit, the journal entry recording the sale should include which of the following?
a | Sales discounts for $200 and debit accounts receivable for $10,000 | ||||||||||||||||||||||||
b | Debit accounts receivable for $9,800 | ||||||||||||||||||||||||
c | Sales discounts for $200 and debit accounts receivable for $9,8002 | ||||||||||||||||||||||||
d | Debit accounts receivable for $10,000 2- Assume the Bluth Company deposits $25,000 in a First National Bank account which earns interest at 6% per annum, compounded semi-annually. Assuming interest is reinvested, how much will the Bluth account have after five years?
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