Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Multiple Choice Question 101 Marigold Company sells merchandise on account for $4600 to Cullumber Company with credt terms of 1/10, n/30. Cullumber Company returns $400

image text in transcribed
Multiple Choice Question 101 Marigold Company sells merchandise on account for $4600 to Cullumber Company with credt terms of 1/10, n/30. Cullumber Company returns $400 of merchandise that was damaged, along with a check to settle the account within the discount peniod. What entry does Marigold Company make upon recept of the chedk? Cah 4554 Sales Discounts 46 Sales Returns and Allowances 400 4200 O cash Sales Retuns and Allowances Sales Discounts 158 400 42 4600 Cash 4200 Accounts Receivable 4200 O Cash 4158 Sales Returns and Allow ances 442 Accounts Receivable 4600

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

Audit Accountability And Government

Authors: Fidelma White, Kathryn Hollingsworth

1st Edition

0198262329, 978-0198262329

More Books

Students also viewed these Accounting questions

Question

=+Determine the amount of wages paid during the month.

Answered: 1 week ago

Question

define what is meant by the term human resource management

Answered: 1 week ago