Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 31, 2024

On 10.05.2020, Company A purchased merchandise on account from TBT Company for TL 3.850. On 12.05.2020, Company A returned defective merchandise to TBT Company on

On 10.05.2020, Company A purchased merchandise on account from TBT Company for TL 3.850.

On 12.05.2020, Company A returned defective merchandise to TBT Company on account (TL 650).

Which of the followings is true about the journal entry of the transaction from 12.05.2020 for Company A?

Sales Return on Debit side TL 650

Merchandise Inventory on Debit side TL 650

Sales Return on Credit side TL 650

Merchandise Inventory on Credit side TL 650

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Operational Review Maximum Results At Efficient Costs

Authors: Rob Reider

3rd Edition

0471228109, 978-0471228103

More Books

Students also viewed these Accounting questions

Question

★★★★★

Many fast-food restaurant chains, such as McDonalds, will occasionally discontinue restaurants in their system. What are some financial considerations in deciding to eliminate a store? Discuss.

Answered: 1 week ago

Question

★★★★★

Polycentric staffing is when a company staffs its operations with people from where?

Answered: 1 week ago

Question

★★★★★

=+21.10. (a) Show that uncorrelated variables need not be independent. (b) Show that Var[E; , X,] = Ef ,-, Cov[X ,, X,] = E"_ , Var[ X,] +

Answered: 1 week ago

Question

★★★★★

Alder Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are planned for the next year. Two units of raw material are required to produce each unit of...

Answered: 1 week ago

Question

★★★★★

Scantron Test Sheet 95946 21. During the year, Kumho Tire Compasy had gross sale of s1,200,000. The costs of goods sold and selling expenses were 5500,000 and $200,000, respectively. Kumho alos had...

Answered: 1 week ago

Question

★★★★★

Imagine that you run a nationwide chain of pizza stores in multiple states. Now it is the end of 2021, and you start preparing various budgets for 2022. List what information you need to gather and...

Answered: 1 week ago

Question

★★★★★

An idealized model of the normalized power spectral density of a gas laser oscillating in $N$ equal-intensity axial modes is \[ \widehat{\mathcal{G}}(v)=\frac{1}{N} \sum_{n=-(N-1) / 2}^{(N-1) / 2}...

Answered: 1 week ago

Question

★★★★★

According to Figure 1.2, the EU is a major customer of exports from Africa and the Middle East. What types of products do you think these areas produce for export, and why do you think the EU is...

Answered: 1 week ago

Question

★★★★★

Compare the results of Exercise 3 with those obtained via the program arima.rob. Data From Exercise 3: Use the package tsoutliers to detect outliers in the 9th and 10th series of the data set...

Answered: 1 week ago

Question

★★★★★

D. J. Hills checkbook lists the following: Hills May bank statement shows the following: Requirements 1. Prepare Hills bank reconciliation at May 31, 2012. 2. How much cash does Hill actually have on...

Answered: 1 week ago

Question

★★★★★

In order to meet strong competition from Volkswagen as well as other foreign domestic subcompacts, Lee Iacocca, then president of Ford Motor Co., decided to introduce a new vehicle by 1970, to be...

Answered: 1 week ago

Question

★★★★★

9. Are you able to integrate your presentation aids into your presentation effectively?

Answered: 1 week ago

Question

★★★★★

4. Are you articulating well? Are you mumbling? Can other people understand your words?

Answered: 1 week ago

Question

★★★★★

6. Are you effectively scanning as you rehearse? (If you have others present, are you making eye contact? If not, are you looking at different quadrants of the room you are rehearsing in?)

Answered: 1 week ago

Previous Question Next Question