Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Salieri Company purchased 7070 keyboards on account for $ 15$15 each from Amadeus, Inc. When they unpacked the keyboards, Salieri found that 2020 of the

Salieri Company purchased

7070

keyboards on account for

$ 15$15

each from Amadeus, Inc. When they unpacked the keyboards, Salieri found that

2020

of the keyboards were damaged in shipping. What is the journal entry that Salieri will make to record the purchase return?

A.Debit Accounts Payable

minus

Amadeus and credit Inventory,

$ 300$300.

B.Debit Purchase Returns and credit Inventory,

$ 1 comma 050$1,050.

C.Debit Purchase Returns and credit Inventory,

$ 300$300.

D.Debit Accounts Payable

minus

Amadeus and credit Inventory,

$ 1 comma 050$1,050.

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

Step: 3

blur-text-image

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

A New Auditors Guide To Planning Performing And Presenting IT Audits

Authors: Nelson Gibb, CIA, CISA, CISSP, Divakar Jain, CA, CPA, Amitesh Joshi, Surekha Muddamsetti, Sarabjot Singh

1st Edition

0894136852, 978-0894136856

More Books

Students also viewed these Accounting questions

Question

Give your answer to 2 decimal places. tan} u so that lim

Answered: 1 week ago

Question

4. Identify cultural variations in communication style.

Answered: 1 week ago

Question

9. Understand the phenomenon of code switching and interlanguage.

Answered: 1 week ago

Question

8. Explain the difference between translation and interpretation.

Answered: 1 week ago