Journalize the following merchandise transactions: a. Sold merchandise on account, $92,500 with terms 1/10, n/30. The cost

Question:

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.

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

Step by Step Answer:

Related Book For book-img-for-question

Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

See More Books

Question Posted: Feb 28, 2014 08:04 AM

See More 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.
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.
Journalize the following merchandise transactions: a. Sold merchandise on account, $60,000 with terms 1/10, n/30. The cost of the merchandise sold was $40,000. b. Received payment less the discount.
The hot dog cooker described in the chapter heats hot dogs by connecting them to 120 V household electricity. A typical hot dog has a mass of 60 g and a resistance of 150 N. How long will it take...
Which of the following substances would you expect to possess metallic properties: (a) TiCl4, (b) NiCo alloy, (c) W, (d) Ge, (e) ScN?
During the construction of a house, six joists of 24 feet each must be trimmed to the correct length of 23 feet. The operations for cutting a joist involve the following sequence: Three persons are...
Follow up the derivations leading to the Blasius equation leading to \[f^{\prime \prime \prime}+f f^{\prime \prime}=0\] A useful routine to solve this is BVP4C in MATLAB. Solve the Blasius equation...
The Tire Rack, Americas leading online distributor of tires and wheels, conducts extensive testing to provide customers with products that are right for their vehicle, driving style, and driving...
Discuss how two magazine advertisements for the same product (such as a health and beauty product) would be different if one is based on the CPM perspective of consumer information processing and the...
Figure shows a uniform beam subject to a linearly increasing distributed load. The equation for the resulting elastic curve is w. (-X* + 21X - L*X) 120 EIL Based on the above equation determine the...
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.
Sundance Co. sold merchandise to Butterfield Co. on account, $16,800, terms 2/15, n/30. The cost of the merchandise sold is $12,600. Sundance Co. issued a credit memo for $3,800 for merchandise...
If bank deposits at the Fed equal $40 million and reserves equal $43 million, then how much does vault cash equal?
dx +2 +2x = sin(2t)u(t) with the ICs x(0) = 4 and x(0)=-4. dt dt a) Use the MATLAB "dsolve" command to solve the ODE. You might want to include "assume(t > 0);" in your code and use 'simplify' on the...
1. Using the data on material handling, use regression software such as Microsoft Excel to complete the missing data in the table below (round regression parameters to the nearest cent and other...
PRACTICE GRAPHS (1) X 1.0 2.0 y -60.5 -1 0.5 3.0 40.6 4.0 90.8 5.0 140.8 6.0 190.8 7.0 241.0 8.0 29 1.0 9.0 341.5 Let's start with the straightforward data table. Plot a graph of y vs. x. Is it a...
Write all corresponding letters in the column, noting that there may be more than one person able to do the task. A. Licensee-in-charge/Principal Agent B. Signatory on the trust account C....
In below picture, the Temperature-Time-Transition (TTT) diagram for a glass forming material is shown: temperature T. m I 1 ppm 1% crystal time
How many molecules of water are there in 10.0 g of water?
How has the globalization of firms affected the diversity of their employees? Why has increased diversity put an additional burden on accounting systems?
What suggestions would you give to a salesperson who is planning to meet a new prospect who displays the Reflective communication style?
Deloise Company purchased a new machine on October 1, 2012, at a cost of $90,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,000...
On March 1, 2012, Enrique Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash. An old warehouse on the property was demolished at a cost...
Brett Richard, the new controller of Maldonado Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2012. Here are his findings: All...
Draw the shear diagram for the beam. Set P = 600 lb, a = 5 ft, b = 7 ft. Draw the moment diagram for the beam.
Ahmed, Bassem and Jamal are partners in Tadamon Company who share profits and losses at a ratio of 2 : 2 : 4 respectively. On 1 / 1 / 2 0 2 2 , it was decided to liquidate the company, and the...
Draw the shear diagram for the beam. Follow the sign convention. Draw the moment diagram for the beam. Follow the sign convention.

Journalize the following merchandise transactions: a. Sold merchandise on account, $92,500 with terms 1/10, n/30. The cost

Question:

Step by Step Answer:

a Accounts Receivable 92500 Sal...View the full answer

Corporate Financial Accounting

Students also viewed these Accounting questions