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On September 14, 2022. Sand Company sells merchandise valued at $37800 on account to Pacifica Inc. with terms 5/10, 30. Both Sandhill and Pacificause the

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On September 14, 2022. Sand Company sells merchandise valued at $37800 on account to Pacifica Inc. with terms 5/10, 30. Both Sandhill and Pacificause the periodic inventory system. Pacifica remits payment to Sampson on September 23. Sandhis entry on that date is: 37800 Accounts Receivable Cash Purchase Discounts 36310 1490 Cash Sales Discounts Accounts Payable 35910 1890 37800 Cash Sales Discounts Accounts Payable 35910 1890 37800 cash 35910 1890 Sales Discounts Accounts Receivable 37800 Carla Vista Corporation purchases $1200 of merchandise on account from Enterprise Company, terms 4/10, 1/30. Carla Vista and Enterprise both use periodic inventory systems. Carla Vista's entry record this transaction is: Inventory Accounts Payable Purchases Accounts Payable Accounts Payable Purchases Accounts Payable Inventory Travis Corporation purchases merchandise on account from Jackson Company, terms 2/10,n/30. Travis and Jackson both use periodic Inventory systems. If Travis pays within the discount period Jackson will O credit the amount of the discount to purchases Discounts. debit the amount of the discount to Sales Discounts credit the amount of the discount to Cash. credit the amount of the discount to Sales Revenue. On July 1 the Vaughn Manufacturing paid $24480 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Vaughn Manufacturing is: debit Rent Expense, $24480; credit Prepaid Rent, $20400. debit Prepaid Rent, $4080; credit Rent Expense, $4080. debit Rent Expense, $4080; credit Prepaid Rent, $4080 debit Rent Expense, $24480; credit Prepaid Rent, $4080. The Skysong, Inc. purchased $6970 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1230 on hand. The adjusting entry that should be made by the company on June 30 is: debit Supplies, $5740; credit Supplies Expense, $5740. debit Supplies Expense, $5740; credit Supplies, $5740. debit Supplies, $1230; credit Supplies Expense, $1230. debit Supplies Expense, $1230; credit Supplies, $1230

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