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are these the right answers? if not which one is correct please? D Question 19 8 pts Which of the following is recorded upon receipt
are these the right answers? if not which one is correct please?
D Question 19 8 pts Which of the following is recorded upon receipt of a payment on April 7, 2020, by a customer who pays a $900 invoice dated March 3, 2020, with terms 2/10, n/60? Debit Sales Discounts $18. Debit Cash $900. Credit Accounts Receivable $882. o Credit Purchase Discounts $18. Question 20 8 pts Sabrina Company records a sales return from a credit customer. Indicate how this transaction would affect (1) assets, (2) stockholders' equity, and (3) net revenues. O (1) Decrease assets. (2) Decrease stockholders' equity. (3) No effect on net revenues . (1) No effect on assets. (2) No effect on stockholders' equity. (3) No effect on net revenues O (1) Decrease assets. (2) Decrease stockholders' equity (3) Decrease net revenues O (1) Decrease assets. (2) No effect on stockholders' equity (3) Decrease net revenues Question 21 8 pts A company reported the following amounts at the end of the year: total sales revenue - $500,000; sales discounts - $10,000: sales allowances - $15.000; net revenues - $440,000. What amount did the company report for sales returns for the year? $415.000. O $475,000 O $35.000 O $25,000 Question 22 8 pts Cullen Company has $235.000 in credit sales, and $164 200 in its Accounts Receivable at the end of the year. The company uses the allowance method to account for uncollectible accounts. The Allowance for Uncollectible Accounts has a $7.250 pre-adjustment credit balance. If the company estimates 4% of credit sales will be uncollectible, what will be the Net Realizable Value of its Accounts Receivable at the end of the year? $142.850 $150.100 $147.550 5140.500 Step by Step Solution
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