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On November 15, Rudy Co. pays in full for $49499 worth of inventory purchased on account on November 10, terms 4/10, n/30. What is the
On November 15, Rudy Co. pays in full for $49499 worth of inventory purchased on account on November 10, terms 4/10, n/30. What is the total balance in the Inventory account on November 15 after the payment is recorded? $ (Note: Round answer to the nearest whole number; do not use commas, periods, etc.) On December 6 Jade Corp. returned $12,000 of undamaged inventory it had originally purchased on account. Assuming Jade Corp. had not paid for the goods yet, the journal entry recorded by Jade Corp. on December 6 would be A. a debit to Sales Returns and Allowances and a credit to Inventory. B. a debit to Accounts Payable and a credit to Inventory. C. a debit to Inventory and a credit to Cost of Goods Sold. D. the debit to Inventory and a credit to Sales Returns and Allowances
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