A customer obtains a purchase allowance from the retailer in the amount of $220 for damaged merchandise.
Question:
A customer obtains a purchase allowance from the retailer in the amount of $220 for damaged merchandise. Which of the following represents the journal entry for this transaction if the customer has not yet remitted payment?
A.
B.
C.
Transcribed Image Text:
Sales Returns and Allowances Cash 220 220
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Sales Returns and Allowances 220 Accounts Receivable 2...View the full answer
Answered By
Hafiz Muhammad Safdar Ali
I have been a tutor for the past 5 years. I have experience working with students in a variety of subject areas, including computer science, math, science, English, and history. I have also worked with students of all ages, from elementary school to college. In addition to my tutoring experience, I have a degree in education from a top university. This has given me a strong foundation in child development and learning theories, which I use to inform my tutoring practices.
I am patient and adaptable, and I work to create a positive and supportive learning environment for my students. I believe that all students have the ability to succeed, and it is my job to help them find and develop their strengths. I am confident in my ability to tutor students and help them achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
An ANOVA table for an experiment with four factors A. B. C and D gave the p-values shown in Figure 14.37. Classify each term as being "significant," "not-significant," or "redundant." Term p-value...
-
The three balls in Figure Q 10.7, which have equal masses, are fired with equal speeds at the angles shown. Rank in order, from largest to smallest, their speeds v a , v b , and v c as they cross the...
-
This navy surveillance sphere is being tested for the pressure field that will be induced in front of it as a function of velocity. Velocimeters in the test basin show that when V A = 14 m/s, the...
-
The United Arab Emirates (UAE) is unique in that expatriates constitute more than 80 per cent of the population. As the country continues to grow and accept foreigners at an astounding pace, Emiratis...
-
Many countries are predominantly agricultural. How would changes in the supply of fertilizer affect the marginal product, and thus the income, of farmers in such countries?
-
Using Faraday's law, determine whether charge carriers flow in the loop for each situation shown in Figure 29.24. Figure 29.24 (a) Field increases x y Xx x x x X (b) Loop shrinks x. (c) Loop rotates x
-
Monroe Marketing is considering employing another marketing consultant to help with managing its clients. The human resources manager of the firm is weighing up whether to employ a marketing graduate...
-
1. What are the important factors Joseph should consider prior to deciding if the airline contract would be a good one for the hotel? 2. Under what conditions might Joseph tell his revenue manager to...
-
22 Ibm of air under atmospheric pressure occupies a volume of 293 ft. What is the temperature of the air at that condition
-
Problem 3-3B Preparing adjusting entries, adjusted trial balance, and financial statements A1 P1 P2 P3 Following is the unadjusted trial balance for Alonzo Institute as of December 31, 2015, which...
-
Assume that the business in Exercise 6-9 maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first-in,...
-
Record journal entries for the following purchase transactions of Flower Company. A. On October 13, Flower Company purchased 85 bushels of flowers with cash for $1,300. B. On October 20, Flower...
-
Which of these media executions appears to be the most innovative?
-
You shoot a beam of electrons through a double slit to make an interference pattern. After noting the properties of the pattern, you then double the speed of the electrons. What effect would this...
-
Prove that \(A \oplus B \leftrightarrow(A \leftrightarrow B)^{\prime}\) is a tautology. Explain why this makes sense.
-
a. Which states of a hydrogen atom can be excited by a collision with an electron with kinetic energy \(K=12.5 \mathrm{eV}\) ? Explain. b. After the collision the atom is not in its ground state....
-
The Hubble Space Telescope has a mirror diameter of \(2.4 \mathrm{~m}\). Suppose the telescope was used to photograph the surface of the moon from a distance of \(3.8 \times 10^{8} \mathrm{~m}\)....
-
What is the beat frequency between the second harmonic of \(\mathrm{G}\) and the third harmonic of \(\mathrm{C}\) ? A. \(1 \mathrm{~Hz}\) B. \(2 \mathrm{~Hz}\) C. \(4 \mathrm{~Hz}\) D. \(6...
-
The article "Solid-Phase Chemical Fractionation of Selected Trace Metals in Some Northern Kentucky Soils" (A. Karathanasis and J. Pils, Soil and Sediment Contamination, 2005:293-308) presents pH...
-
Let (X. A. p) be a measure space. Show that for any A,B A, we have the equality: (AUB)+(An B) = (A) + (B).
-
If sales promotion spending continues to grow often at the expense of media advertis inghow do you think this might affect the rates charged by mass media for advertising time or space? How do you...
-
As a community service, disc jockeys from radio station WMKT formed a basketball team to help raise money for local nonprofit organizations. The host organization finds or fields a competing team and...
-
How should the acceptance of a profit-oriented, a sales-oriented, or a status quooriented pricing objective affect the development of a companys marketing strategy? Illustrate for each.
-
Image transcription text Introduction: The Smart Parking Management System (SPMS) project aimed to develop an efficient, automated solution for managing parking spaces in urban areas using Arduino...
-
A. Can we use human capital theory to explain "Age-Discrimination"? If so, how? B. Why do some firms prefer to hire younger workers, especially for entry level positions? C. Why do some firms...
-
Image transcription text Question 6 Not yet answered Marked out of 1.00 '1" Flag question During a mountain?biking tripr Bill and Barry are discussing the merits of having the springs and shocks used...
Study smarter with the SolutionInn App