Dora's Blankets and Bedding had a sale of $600 to a charge customer, terms 2/15, n/30....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Dora's Blankets and Bedding had a sale of $600 to a charge customer, terms 2/15, n/30. Dora should record this transaction as follows: (Round intermediary calculations to the nearest cent and final answers to the whole dollar.) Choose correct answer/s A debit Accounts Receivable $600; credit Sales $600. B debit Cash $600; credit Sales $600. C debit Accounts Receivable $588; debit Sales Discounts $12; credit Sales $600. D debit Sales $600; credit Accounts Receivable $600. Dora's Blankets and Bedding had a sale of $600 to a charge customer, terms 2/15, n/30. Dora should record this transaction as follows: (Round intermediary calculations to the nearest cent and final answers to the whole dollar.) Choose correct answer/s A debit Accounts Receivable $600; credit Sales $600. B debit Cash $600; credit Sales $600. C debit Accounts Receivable $588; debit Sales Discounts $12; credit Sales $600. D debit Sales $600; credit Accounts Receivable $600.
Expert Answer:
Answer rating: 100% (QA)
Answer C debit Accounts Receivable 588 debit Sales Discounts 12 credit Sales 600 The correct ... View the full answer
Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
Posted Date:
Students also viewed these accounting questions
-
Peach Blossom Cologne Company Assignment#3 Accounts Receivable and Credit Sales using the following headings describe the credit sales weaknesses for each client: Weaknesses Potential Error...
-
Round each monetary amount to the nearest cent or dollar as indicated. 1. $14,769.52, to the nearest dollar 2. $0.7633, to the nearest cent
-
The accountant for Flowers-R-Us gathers the following data before making adjusting entries: Accounts Receivable balance $32,500 Allowance for Doubtful Accounts balance $150 Net credit sales $750,000...
-
Use Eq. (13) to show that (x, y) = ln r is harmonic. 1 Af = frr + fee + = fr 1 2
-
1. Consider the statement A well-developed information system without an appropriately planned implementation with its stakeholders can often fail. Why? Provide examples and details. 2. The Countys...
-
The velocity of money, V, is defined as the ratio of real GNP to real money holdings, V = Y/(M/P) in this chapters notation. Use equation to derive an expression for velocity and explain how velocity...
-
What accounting procedures must be completed before the partnership liquidation process begins?
-
Larry Davis borrows $80,000 at 14 percent interest toward the purchase of a home. His mortgage is for 25 years. a. How much will his annual payments be? (Although home payments are usually on a...
-
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding,...
-
Three entrepreneurs were looking to start a new brewpub near Sacramento, California, called Roseville Brewing Company (RBC). Brewpubs provide two products to customersfood from the restaurant segment...
-
Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). 2020 2019 $14,842 $7,864 22,940 21,718 33,619 29,952 19,984 20,322 Total current assets...
-
Define alpha and beta risks.
-
You're interested in predicting success in business. You're a stats star! Why not go out and collect 15 different variables and combine them to see which combination best predicts success (however...
-
What type of equity (external, internal, or employee) is important to you? Explain the reasons.
-
Discuss the general idea that just because two things are correlated, one does not necessarily cause the other. Provide an example (other than ice cream and crime!).
-
Discuss why training must be a strategic imperative in public and nonprofit organizations.
-
"At the time of writing, tablets such as the iPad have only just been introduced and they have not yet had any impact on the ways that on-line documentation is accessed." - Author made this statement...
-
Under what conditions is the following SQL statement valid?
-
Assume Victors Vans borrowed $15 million from Jays Bank and agreed to (a) pay an interest rate of 7.2% and (b) maintain a compensating balance amount equal to 5.3% of the loan. Determine Victors Vans...
-
Bentley Outdoor Furniture Company included the following stockholders equity on its year-end balance sheet at February 28, 2013: Requirements 1. Identify the different issues of stock that Bentley...
-
Refer to the Amazon.com, Inc., consolidated financial statements in Appendix A at the end of this book. The cash and cash equivalents section of the Consolidated Balance Sheet shows a balance of...
-
Michael Atisse, a carpenter, has the following trial balance as at 31 December 2012. You have the following additional information. 1. Closing inventory of tools 4,500 2. Depreciation is to be...
-
Clare Analetto, an antique dealer, has the following trial balance as at 31 December 2012. You also have the following notes to the accounts. 1. Closing inventory of antiques is 7,000. 2....
-
Michelle Angelo has trade receivables of 40,000 at the year end. However, she feels that 4,000 are irrecoverable. Required: Prepare the appropriate statement of financial position and income...
Study smarter with the SolutionInn App