A credit sale is made on July 10 for $900, terms 1/15, n/30. On July 12, the

Question:

A credit sale is made on July 10 for $900, terms 1/15, n/30. On July 12, the purchaser returns $100 of goods for credit. Give the journal entry on July 19 to record the receipt of the balance due within the discount period.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

See More Books

Question Posted: Sep 22, 2011 11:11 AM

See More Questions

A credit sale is made on July 10 for $900, terms 2/10, n/30. On July 12, $100 of goods are returned for credit. Give the journal entry on July 19 to record the receipt of the balance due within the...
A credit sale is made on July 10 for $700, terms 2/10, n/30. On July 12, $100 of goods are returned for credit. Give the journal entry on July 19 to record the receipt of the balance due within the...
A credit sale is made on July 10 for $900, terms 2/10, n/30. On July 12, the purchaser returns $100 of goods for credit. Give the journal entry on July 19 to record the receipt of the balance due...
Window World extended credit to customer Nile Jenkins in the amount of $130,900 for his purchase of window treatments on April 2. Terms of the sale are 2/60, n/150. The cost of the purchase to Window...
A 10-kg storm window measuring 900 1500 mm is held by hinges at A and B. In the position shown, it is held away from the side of the house by a 600-mm stick CD. Assuming that the hinge at A does not...
A neutron (mass 1.008 66 u) disintegrates into a proton (mass 1.007 28 u), an electron (mass 0.000 55 u), and an antineutrino (mass 0). What is the sum of the kinetic energies of the particles...
A long, straight wire carrying a current of $2.5 \mathrm{~A}$ to the left is placed directly below and parallel to the central axis of a solenoid that has 1000 windings per meter of length and a...
Osage Inc. has actual sales for June and July and forecast sales for August, September, October, and November as follows: Actual: June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
1. Identify the product which represents the solid state in the above reaction. a) Barium chloride b) Barium sulphate c) Sodium chloride d) Sodium sulphate 2. The colour of the solution observed...
The current on-the-run yields for the Ramsey Corporation are as follows: Assume that each bond is an annual-pay bond. Each bond is trading at par, so its coupon rate is equal to its yield to...
(a) What is the primary source document for recording (1) Cash sales and (2) Credit sales? (b) Using XXs for amounts, give the journal entry for each of the transactions in part (a), assuming...
As the end of Agnew Companys fiscal yearend approached, it became clear that the company had considerable excess inventory. Belden Glass, the head of marketing and sales, ordered salespeople to add...
Verify the locations and sizes of the images formed by the two lenses in Fig. 24.1b using the lens equation and the following data: f1 = + 4.00 cm, f2 = 2.00 cm, s = 8.00 cm (where s is the distance...
Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $152,470 has an estimated useful life of 18 years, has an estimated residual value of $8,650, and is depreciated by the...
How do I make a queue in C? Need an initialize function, add, delete and rotate queue function ?
Please show me how to do the transformation and determine total account receivable and balance amount for each sale more details and step by step. Fluffy allows their customers to pay in...
a) Consider a tiny economy of Country A which currently has a total output of $400 million, investment of $50 million and a multiplier of 2. The equilibrium equation for Fraser Island is represented...
The following trial balance of Kingbird Traveler Corporation does not balance. Cash Kingbird Traveler Corporation Trial Balance April 30, 2025 Accounts Receivable Supplies Equipment Accounts Payable...
Metal Corporation owns all of the stock of Iron Corporation, and owns 100 shares of Steel Corporation, which has 1,000 shares of stock outstanding. The 100 shares of Steel were purchased by Metal in...
Whats the difference between an ordinary annuity and an annuity due? What type of annuity is shown below? How would you change the time line to show the other type of annuity?
Calculate the integral in terms of the inverse hyperbolic functions. dx x1 s
(a) Should business transaction debits and credits be recorded directly in the ledger accounts? (b) What are the advantages of first recording transactions in the journal and then posting to the...
(a) Should business transaction debits and credits be recorded directly in the ledger accounts? (b) What are the advantages of first recording transactions in the journal and then posting to the...
Journalize the following business transactions. (a) Hector Molina invests $9,000 cash in the business. (b) Insurance of $800 is paid for the year. (c) Supplies of $2,000 are purchased on account. (d)...
Problem 2: Consider the following sequential pseudo-code segment, in which n 1 is an integer. for i 0 ton do oin Compute function f(i) end (25 points) Suppose that computing f(i) needs t(i) time,...
Solve. 6x +5x=21 D X = (Simplify your answer. Type an exact answer, using radicals as needed. Express numbers in terms of i. Use a comma to separate answers as needed.)
9. The Robinson family owns a 3-bedroom condo. Both parents work full time. Mr. Robinson's yearly income is $43 000 and Mrs. Robinson's yearly income is $47 000. Below are the expenses that the...

A credit sale is made on July 10 for $900, terms 1/15, n/30. On July 12, the

Question:

Step by Step Answer:

July 19 Cash 800 8 ...View the full answer

Financial Accounting Tools for business decision making

Students also viewed these Accounting questions