Journalize the following merchandise transactions: a. Sold merchandise on account, $41,100 with terms 2/10, n/30. The cost
Question:
Journalize the following merchandise transactions:
a. Sold merchandise on account, $41,100 with terms 2/10, n/30. The cost of the merchandise sold was $26,750.
b. Received payment less the discount.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 92% (14 reviews)
a Accounts Receivable 41100 Sal...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Accounting questions
-
Journalize the following merchandise transactions: a. Sold merchandise on account, $16,000 with terms 2/10, n/30. The cost of the merchandise sold was $9,600. b. Received payment less the discount.
-
The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Pictou Ltd. sold goods to Thames Corp. for $68,000, terms 2/10, n/30, FOB shipping...
-
Journalize the following merchandise transactions: a. Sold merchandise on account, $41,000 with terms 1/10, n/30. The cost of the merchandise sold was $22,500. b. Received payment less the discount.
-
Air at room temperature has a density of about 1.29 kg/m 3 . Assuming it to be entirely one gas, find rms for its molecules.
-
Consider the unit cells shown here for three different structures that are commonly observed for metallic elements. (a)Which structure(s) corresponds to the densest packing of atoms? (b) Which...
-
Apply Floyds algorithm to the network in Figure 6.43. Arcs (7, 6) and (6, 4) are unidirectional, and all the distances are in miles. Determine the shortest route between the following pairs of nodes:...
-
The following system of differential equations arises in the modeling of a stirred tank reactor with an autocatalyic reaction: \[\begin{aligned}& \frac{d x}{d t}=x-x y \\& \frac{d y}{d t}=-y+x...
-
Assume that LBJ Group (LBJ), a European engineering firm, engaged in the following six transactions during the year ended December 31, Year 3. LBJ applies U.S. GAAP and reports its results in...
-
A newly launched mortgage brokerage firm has established a customer service center. Prospective homebuyers are arriving at a rate of 200 per hour (following a Poisson Distribution), and their time...
-
What are some of the benefits and costs for the Gold Standard to consider when deciding whether to require certification for its engineering managers? Some of the benefits would include a streamlined...
-
Hoffman Company purchased merchandise on account from a supplier for $65,000, terms 1/10, n/30. Hoffman Company returned $7,500 of the merchandise and received full credit. a. If Hoffman Company pays...
-
Journalize the following merchandise transactions: a. Sold merchandise on account, $92,500 with terms 1/10, n/30. The cost of the merchandise sold was $55,500. b. Received payment less the discount.
-
The Am1004-T61 magnesium tube is bonded to the A-36 steel rod. If the allowable shear stresses for the magnesium and steel are (Ï allow ) mg = 45 MPa and (Ï allow ) st = 75 MPa,...
-
The following monthly effluent constituent concentrations have been obtained from four different existing activated sludge treatment plants. Each of these plants is to be replaced with a new plant to...
-
You will meet the equations describing bending beams in the module but do not need to know their derivation to be able to answer this question. The deflection, d, is described by the following...
-
1) Design a combinational circuit with three inputs, x, y and z, and three outputs, A, B, C. When the binary input is 0, 1, 2, or 3, the binary output is one greater than the input. When the binary...
-
Build numerical model for the spread of an infectious disease built upon the SIR model for transmission. The model should be based on a daily time step. (a) Assume that a city of 10 million people is...
-
The rise in US interest rates brought an increase in the government's external debt service obligations (debt service comprises interest, coupons, and principal). Identify where cross-border interest...
-
How many aluminum atoms are there in 10.0 g of aluminum oxide, Al 2 O 3 ?
-
9.Consider the reaction 3NO2(g)+H2O=2HNO3(aq)+NO(g) where Delta H=-137 kJ.How many kilojoules are released when 92.3g of NO2 reacts?
-
Self-awareness is important in personal selling. As we get to know ourselves, we can identify barriers to acceptance by others. Once you have identified your most preferred communication style, you...
-
Crosswinds Hospital plans to use activity-based costing to assign hospital indirect costs to the care of patients. The hospital has identified the following activities and activity rates for the...
-
Hand Armour, Inc. produces three types of high performance sports gloves: small, medium, and large. A glove pattern is first stenciled onto leather in the Pattern Department. The stenciled patterns...
-
Teldar Manufacturing Company is a diversified manufacturer that manufactures three products (M5, Z4, and I8) in a continuous production process. Senior management has asked the controller to conduct...
-
Using Fourier Transforms, solve the following integral Equation for ((t) f (t) - ( ( ( t -u) ue - 2 u H (u) du = foo_flt -4t e H(t)
-
Q1: what is the net operating income under the variable and absorption cost system. A: ACER company Product sales: 1,000 units at $10 each Variable manufacturing costs: $5.50 per unit Fixed...
-
Solve for 2 and graph the solution on the number line below. 245x+9 or 5x +9 69
Study smarter with the SolutionInn App