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

Question

1 Approved Answer

On October 1, Your Company sold merchandise for $5,800, with credit terms of 2/10,n/30. The cost of the items sold is $4,000. Your Company uses

image text in transcribed
On October 1, Your Company sold merchandise for $5,800, with credit terms of 2/10,n/30. The cost of the items sold is $4,000. Your Company uses the perpetual inventory system. You received payment on October 6 . Which journal entry records the October 6 transaction

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_2

Step: 3

blur-text-image_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

Financial Accounting The Impact On Decision Makers

Financial Accounting The Impact On Decision Makers

Authors: Curtis L. Norton, Gary A. Porter

6th Edition

9781439037119, 1439037116

More Books

Students also viewed these Accounting questions

Question

★★★★★
Outline and discuss the impact of intranets and extranets on the three phases of attracting, maintaining and terminating human resources.

Answered: 1 week ago

Question

★★★★★
According to Sam Calagione, what does education have to do with sales?

Answered: 1 week ago

Question

★★★★★
The article A Statistical Analysis of the Notch Toughness of 9% Nickel Steels Obtained from Production Heats (J. of Testing and Eval., 1987: 355363) reports on the results of a multiple regression...

Answered: 1 week ago

Question

★★★★★
Inventory Errors At December 31, 2010, Dwight Corporation reported current assets of $390,000 and current liabilities of $200,000. The following items may have been recorded incorrectly. Dwight uses...

Answered: 1 week ago

Question

★★★★★
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June 20Y3: June 1. Established a petty cash fund of $1,000. 12. The cash...

Answered: 1 week ago

Question

★★★★★
This information relates to the Cash account in the ledger of Sandhill Company. Balance September 1-$19,970; Cash deposited-$64,000 Balance September 30-$21,170; Checks written-$62,800 The September...

Answered: 1 week ago

Question

★★★★★
You deposit $A today in a fund paying interest at j4 = 6%. You plan to make quarterly withdrawals for 5 years (for a total of 20 withdrawals), with the first deposit made 1 year from now. The first...

Answered: 1 week ago

Question

★★★★★
2. Titanic Corporation has three investment centre as below: Centre Nike Pine Feira (RM) (RM) (RM) Sales Operating income Average operating assets 4,000,000 6,000,000 3,500,000 4,000,000 6,000,000...

Answered: 1 week ago

Question

★★★★★
The standard cost card for a product indicates that one unit of the product requires 8 kilograms of a raw material at $0.80 per kilogram. The actual production of the product in April was 870 units,...

Answered: 1 week ago

Question

★★★★★
The site manager is planning a different operational process for the in-store shoppers. Instead of having a shopper check out one order at a time, they will now shop for two customer orders, and then...

Answered: 1 week ago

Question

★★★★★
Many companies have shifted from traditional annual performance appraisals to frequent, constructive, and future-focused development reviews. Writing a 4-page paper to explain this. Expectancy theory...

Answered: 1 week ago

Question

★★★★★
a. What values did your parents or guardians attempt to instill in you?

Answered: 1 week ago

Question

★★★★★
7. Identify six intercultural communication dialectics.

Answered: 1 week ago

Question

★★★★★
2. How did business and political interests influence what early intercultural communication researchers studied and learned?

Answered: 1 week ago

Previous Question Next Question