Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If I paid 500 as prepaid expenses for the shipping company, and The company receives cash of $305 by making a sale for $250, $35

If I paid 500 as prepaid expenses for the shipping company, and The company receives cash of $305 by making a sale for $250, $35 vat, $20 shipping cost.

what is the journal entry for this case?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Connect For Computer Accounting With Quickbooks 2021

Authors: Author

20th Edition

1264069200, 9781264069200

More Books

Students also viewed these Accounting questions

Question

Why do we need a theory of generalized imitation? LO5

Answered: 1 week ago

Question

licensure as a psychologist in the respective jurisdiction; and

Answered: 1 week ago

Question

How can we use language to enhance skill in perceiving?

Answered: 1 week ago