Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 04, 2024

On September 12, Ryan Company sold merchandise in the amount of $7,000 to Johnson Company, with credit terms of 3/10, n/30. The cost of the

On September 12, Ryan Company sold merchandise in the amount of $7,000 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,600. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

39. A photographic supply business accepts orders on each of two different phone lines. On each line the waiting time until the rst call is exponentially distributed with mean 1 minute, and the two...

Answered: 1 week ago

Question

★★★★★

Scenario Analysis: Estimated Cash Flows for the Toronto People Mover Consider the scenario in which a competing form of transportation, the bicycle, causes sales to drop to 90% of expected sales from...

Answered: 1 week ago

Question

★★★★★

Question 1 Not yet answered Marked out of 12.00 P Flag question a) One TTL gate is to be used to drive one input of each of three CMOS gates as shown. Check the voltage and current compatibility and...

Answered: 1 week ago

Question

★★★★★

Describe specific examples of the six dominant themes of the value orientation universal to cultures in the aviation industry. Provide specific examples of how the themes may show up differently in...

Answered: 1 week ago

Question

★★★★★

You are required to design a shell and tube heat exchanger having a rectangular cross section as shown in figure 1 below. The heat exchanger uses water as the cooling fluid to reduce the temperature...

Answered: 1 week ago

Question

★★★★★

The Bakeoff Case Read "The Bakeoff" case and post approximately 1 page of text (about 4 paragraphs) answering the following questions SOLELY based on the case. Do not use other references. What were...

Answered: 1 week ago

Question

★★★★★

1. Determine the magnitude and direction of the force that must be applied to the bottom of the gate shown below to keep the gate closed. 3.4 m Water 1.5 m wide gate Hinge T 0.75 m

Answered: 1 week ago

Question

★★★★★

Lynda is a manager of an investment center. Her division has been performing below expectations recently because one of its larger projects has not been as successful as anticipated. Given the poor...

Answered: 1 week ago

Question

★★★★★

Question 2 Determine the first two critical speeds for the shaft shown in figure 1 below. Young's modulus for steel should be taken as 200GN/m2. Show all the calculations and state all your...

Answered: 1 week ago

Previous Question Next Question