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Question 18 1 pts Dickson Inc. uses the perpetual inventory system. The company sold 500 units to Ajax Ltd. for a total sales price of
Question 18 1 pts Dickson Inc. uses the perpetual inventory system. The company sold 500 units to Ajax Ltd. for a total sales price of $5,000. At the time of the sale, Dickson carried the 500 units of inventory on its books at a total cost of $3,000. If Ajax returns 50 units for a full refund, the effect of recording the return will cause Dickson's net assets to increase by $200. decrease by $500 increase by $500. decrease by $200. Question 19 1 pts Petrova Garden Shops uses the perpetual inventory system. On July 1, Petrova Garden Shops purchases $3,000 worth of plants from Xero Growers on account with terms of 2/10, n/30. If Petrova pays the amount due on July 10, Petrova's entry to record the payment will include: a credit to Purchases of $60. a credit to Purchase Discounts of $60 a debit to Returns and Allowances of $60. a debit to Sales Discounts of $60 a credit to Inventory of $60
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