FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Merchandise with a sales price of $6.700 is sold on account with terms 2/10, n/30. The Journal entry to record the sale would include a

image text in transcribed
Merchandise with a sales price of $6.700 is sold on account with terms 2/10, n/30. The Journal entry to record the sale would include a A credit to Sales for $6.566 B. debit to Accounts Receivable for $6,700 C. debit to Cash for $6,700 D. debit to Customer Refunds Payable for $134

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

Managerial Accounting

Managerial Accounting

Authors: Ray H. Garrison, Alan Webb, Theresa Libby

12th Canadian Edition

1260193276, 978-1260193275

More Books

Students also viewed these Accounting questions

Question

★★★★★
Stimulates gallbladder to release bile?

Answered: 1 week ago

Question

★★★★★
The myStrategy box at the end of Chapter 1 asked how much you would be willing to pay for the job you wantfor a job that reflects your values. Here, we look at a different issue relating to worth:...

Answered: 1 week ago

Question

★★★★★
=+b) What is the maximax choice? Section 23.4

Answered: 1 week ago

Question

★★★★★
CASH DIVIDEND AND APPROPRIATION OF RETAINED EARNINGS On January 1, 20--, Krausert Companys retained earnings accounts had the following balances: Appropriated for computer.........$ 50,000...

Answered: 1 week ago

Question

★★★★★
AWS Technical Essentials Project Server Monitoring Project 1 DESCRIPTION Heaven Classics successfully creates an EC2 Server Instance for Windows 2012 Server. After launching the instance on the...

Answered: 1 week ago

Question

★★★★★
Why were bonds originally created? And why is the risk based on the current market? Why should people purchase bonds instead of saving money in a savings account that pays good interest?

Answered: 1 week ago

Question

★★★★★
As a member of the design team, I worked on a project to modify electrical switches. The Design Team consists of three members, namely a Coordinator, a Designer, and a Design Analyst. It was my...

Answered: 1 week ago

Question

★★★★★
When designing the distribution channel, one of the decisions we must make is deciding the type of distribution channel to use: direct, some variant of an indirect channel, multichannel, omnichannel....

Answered: 1 week ago

Question

★★★★★
An electronics company purchases a particular component from two sources: "Supplier A" and "Supplier B". The following statistics were gathered by testing a large number of the components to see if...

Answered: 1 week ago

Question

★★★★★
Need full calculation with diagrams solution full accurate clean handwriting. GENERAL DIRECTIONS: Solve the given problems below. Writeyour answer on the space provided and box your final answer. Use...

Answered: 1 week ago

Question

★★★★★
2. An acclaimed restaurant, Fleur De Lys is interested in knowing if their diners spend more on weekends than weekdays. To determine this, random samples of 36 weekend diners and 36 weekday diners...

Answered: 1 week ago

Question

★★★★★
7. Illustrate examples of segmenting and actively managing a companys talent.

Answered: 1 week ago

Question

★★★★★
4. Give examples of five potential appraisal problems.

Answered: 1 week ago

Question

★★★★★
6. Explain how to install a performance management program.

Answered: 1 week ago

Previous Question Next Question