Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
E Question Heip On December 1, Macy Company sold merchandise with a seling price of $9,000 on account to Mrs Jorgensen, with terms 4/10, n/30.
E Question Heip On December 1, Macy Company sold merchandise with a seling price of $9,000 on account to Mrs Jorgensen, with terms 4/10, n/30. On December 3, Mrs, Jorgensen returnied merchandise with a se price of $700. Mrs. Jorgensen paid the amount due on December 9. What joumal entry did Macy Comparny prepare on December 9 assuming the gross method is uned? Debit Cash for S7,968 and aedit Accounts Receivable for S7.968. O B. Debit Sales Revenue for $8,300, credit Sales Discount for $332 and credit Cash for $7,968 O C. Debit Sales Revenue for $7.968, deblit Sales Discounts for $332, and credit Accounts Receivable for $8,300. O D. Debit Cash for $7.968, debit Sales Discounts for $332, and aredit Accounts Receiveble for $8,300
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started