{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-29T17:06:45-04:00", "answer_date": "2024-05-29 17:06:45", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1895820", "url": "\/study-help\/questions\/on-june-3-sheridan-company-sold-to-chester-company-merchandise-1895820", "question_creation_date_js": "2024-05-29T17:06:45-04:00", "question_creation_date": "May 29, 2024 05:06 PM", "meta_title": "[Solved] On June 3, Sheridan Company sold to Chest | SolutionInn", "meta_description": "Answer of - On June 3, Sheridan Company sold to Chester Company merchandise having a sale price of $2,800 with terms of 4\/10, n\/60 | SolutionInn", "meta_keywords": "june,3,sheridan,company,sold,chester,merchandise,sale,price,$2,800,terms,4\/10", "question_title_h1": " On June 3, Sheridan Company sold to Chester Company merchandise having a sale price of $2,800 with terms of 4\/10, n\/60, f.o.b. shipping point.", "question_title": " On June 3, Sheridan Company sold to Chester Company merchandise having", "question_title_for_js_snippet": "On June 3, Sheridan Company sold to Chester Company merchandise having a sale price of $2,800 with terms of 4 10, n 60, f o b shipping point An invoice totaling $98, terms n 30, was received by Chester on June 8 from John Booth Transport Service for the freight cost On June 12, the company received a check for the balance due from Chester Company (a) Prepare journal entries on the Sheridan Company books to record all the events noted above under each of the following bases (1) Sales and receivables are entered at gross selling price (2) Sales and receivables are entered at net of cash discounts (If no entry is required, select No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented when the amount is entered Do not indent manually)", "question_description": "\"image\"image", "transcribed_text": "On June 3, Sheridan Company sold to Chester Company merchandise having a sale price of $2,800 with terms of 4\/10, n\/60, f.o.b. shipping point. An invoice totaling $98, terms n\/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. (a) Prepare journal entries on the Sheridan Company books to record all the events noted above under each of the following bases. (1) Sales and receivables are entered at gross selling price. (2) Sales and receivables are entered at net of cash discounts. (If no entry is required, select \"No Entry\" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually)", "related_book": { "title": "Managerial Accounting", "isbn": "978-007811100, 78111005, 978-0078111006", "edition": "14th edition", "authors": "Ray Garrison, Eric Noreen and Peter Brewer", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/260.jpg", "uri": "\/textbooks\/managerial-accounting-14th-edition-260", "see_more_uri": "" }, "free_related_book": { "isbn": "B00VUSMAF4", "uri": "\/textbooks\/many-cargoes-1st-edition-b00vusmaf4-267982", "name": "Many Cargoes", "edition": "1st Edition" }, "question_posted": "2024-05-29 17:06:45", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-August-28", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/in-your-opinion-was-saks-zero-tolerance-policy-for-employee", "description": "In your opinion, was Saks' zero tolerance policy for employee theft reasonable? Was the policy likely cost-effective? Defend your answers.", "stars": 3 }, { "url": "\/for-some-viscoelastic-polymers-are-subjected-to-stress", "description": "For some viscoelastic polymers that are subjected to stress relaxation tests, the stress decays with time according to where ?(t) and ?(0) represent the time-dependent and initial (i.e., time = 0)...", "stars": 3 }, { "url": "\/study-help\/issues-in-economics\/the-400-billion-deficits-of-2005-werea-accurately-forecast-by", "description": "The $400 billion deficits of 2005 were a. Accurately forecast by the Office of Management and Budget in 2000. b. Accurately forecast by the Office of Management and Budget in 2002. c. Accurately...", "stars": 3 }, { "url": "\/study-help\/introduction-to-probability-statistics\/an-urn-contains-15-balls-numbered-115-we-select-three-1983408", "description": "An urn contains 15 balls numbered 115. We select three balls without replacement. Find the probability that (i) at least one number drawn is a prime; (ii) exactly one number drawn is a prime.", "stars": 3 }, { "url": "\/presented-below-is-net-asset-information-related-to-the-salmon", "description": "Presented below is net asset information related to the Salmon Division of Horton, Inc. SALMON DIVISION NET ASSETS AS OF DECEMBER 31, 2014 (IN MILLIONS) Cash .................. $ 40 Receivables...", "stars": 3 }, { "url": "\/study-help\/questions\/conduct-an-internet-search-to-find-and-read-at-least-9828058", "description": "Conduct an Internet search to find and read at least 3 recent articles that relate to the key term you selected. Articles may be found in the International section of any reputable website that...", "stars": 3 }, { "url": "\/study-help\/questions\/given-data-is-157-149162-168155155-15748165157-157-sample-size-4530762", "description": "Given data is 157, 149,162, 168,155,155, 157.48,165,157, 157 sample size (n)=10 sample mean = 158.2480 sample variance = 29.6284 sample standard deviation = 5.4432 Given data is 157, 149, 162,...", "stars": 3 }, { "url": "\/study-help\/questions\/next-generation-ltd-trial-balance-on-31-december-2019-debit-3605145", "description": "Next Generation Ltd Trial balance on 31 December 2019 Debit Credit Share capital 570,000 Property, plant, and equipment 2,100,000 Bank 195,000 Revenue 480,000 Rental income 35,000 Cost of sales...", "stars": 3 }, { "url": "\/study-help\/questions\/perform-the-following-steps-with-pen-and-paper-you-999892", "description": "Perform the following steps with pen and paper - you should not write code for these steps: Write down your PI (personal identifier). Your PI will be different from your OUCU, but like your OUCU it...", "stars": 3 }, { "url": "\/study-help\/questions\/what-are-the-three-private-ip-ranges-what-are-some-1011840", "description": "What are the three private IP ranges? What are some scenarios where private IP addresses can be used? Briefly compare and contrast Static NAT, Dynamic NAT, and PAT. Using the drawing, how would you...", "stars": 3 }, { "url": "\/study-help\/questions\/you-decide-that-you-need-to-change-the-ways-you-3579584", "description": "You decide that you need to change the ways you interact with the sales staff. Which of the following actions would best remodel your behavior based on the persuasion principle of being what the...", "stars": 3 }, { "url": "\/study-help\/questions\/using-fnmas-website-takes-patience-and-practice-which-is-why-999622", "description": "Using FNMA's website takes patience and practice, which is why we asked you to poke around and familiarize yourself with its search functions. We want to hear your opinion. Please answer the...", "stars": 3 }, { "url": "\/study-help\/questions\/difference-between-parzen-window-and-knn-8256919", "description": "difference between parzen window and knn", "stars": 3 }, { "url": "\/study-help\/questions\/2015-link-to-text-for-each-ratio-calculated-in-a-and-b-185667", "description": "Arlington Merchants reported the following on its income statement for the fiscal years ending December 31, 2016 and 2015. 2016 2015 Sales $4,857,500 $4,752,900 Cost of goods sold 3,258,950 3,207,000...", "stars": 3 }, { "url": "\/study-help\/legal-research-analysis\/3-let-e-ln-n-en-prove-that-1639401", "description": "3. Let E = {l\/n : n EN}. Prove that the function f(x) = { ~ x EE otherwise is integrable on [0,1]. What is the value of J01 f(x) dx?", "stars": 3 }, { "url": "\/study-help\/legal-research-analysis\/5-suppose-that-f-is-continuous-on-a-nondegenerate-interval-1639399", "description": "5. Suppose that f is continuous on a nondegenerate interval [a, bJ. Show that lC f(x)dx = 0 for all c E [a, bJ if and only if f(x) = 0 for all x E [a, bJ. (Compare with Exercise 4, and notice that f...", "stars": 3 }, { "url": "\/study-help\/legal-research-analysis\/this-exercise-is-used-in-section-e142-suppose-that-1639400", "description": "[!]. This exercise is used in Section e14.2. Suppose that [a, b] is a closed, nondegenerate interval and f : [a, b] ---7 R is bounded. (a) Prove that if f is continuous at Xo E [a, b] and f(xo) =1=...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/at-the-end-of-the-year-the-records-of-nortech-1895819", "next": "\/study-help\/questions\/exercise-49a-calculate-the-balance-of-cash-using-a-bank-1895821" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " On June 3, Sheridan Company sold to Chester Company merchandise having", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/on-june-3-sheridan-company-sold-to-chester-company-merchandise-1895820" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } "1" } }