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help. TIA What is one of the journal entires when the seller sells merchandise/inventory to a company on account? O a. Debit Inventory; Credit Cash

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What is one of the journal entires when the seller sells merchandise/inventory to a company on account? O a. Debit Inventory; Credit Cash O b. Debit COGS: Credit Inventory O c. Debit Inventory: Credit AR O d. Debit Sales Revenue: Credit AR On 2/1, a company buys $1,000 of merchandise with terms 4/5, n/30. On 2/3, the company is granted an allowance of $400 because some of the merchandise is the wrong color. On 2/4, the company pays for the merchandise. How much cash is paid? O a. $960 011 O b. $1,000 O c. $576 d. $600 On 3/1, a company buys $5,000 of merchandise with terms 2/10,n/15. On 3/7, the company returns $500 of merchandise that is defective. What is the journal entry for the company for this purchase return? of O a. Debit AP: Credit Sales Returns and Allowances estion b. Debit AP: Credit Inventory O c Debit Inventory: Credit AR O d. Debit Inventory: Credit AP -4 Which of the following is true about FOB shipping point? ed out of O a Journal entry to record shipping is a debit to cash and credit to inventory @b. Shipping costs are always free Oc Buyer pays freight cost O d. Seiler pays freight cost question A company buys inventory by paying cash. What is the journal entry? O a. Debit Inventory; Credit AP O b. Debit Cash; Credit Sales Revenue O c. Debit Cash; Credit Inventory O d. Debit Inventory: Credit Cash

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