Sally Co. sold merchandise to Buck Co. on account, $58,900, terms 2/15, n/30. The cost of the
Question:
Sally Co. sold merchandise to Buck Co. on account, $58,900, terms 2/15, n/30. The cost of the merchandise sold is $35,200. Journalize the entries for sally Co. and Buck Co. for the sale, purchase, and payment of amount due. Assume all discounts are taken.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
Answer Journal Entries in the books of Sally Co Date Particulars Post ref Debit Credit xxxxxxxx Acc ...View the full answer
Answered By
Niranjan Reddy
Since my childhood I used to learn all subjects quickly and used to teach my friends and I used to clarify their doubts. Because I love teaching, so along with work I am simultaneously tutoring students online
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Question Posted:
Students also viewed these Business questions
-
The cost of a border fence is $3 million per mile. If the life of such a fence is assumed to be 10 years, the equivalent annual cost of a 10-mile-long fence at an interest rate of 10% per year is...
-
The cost of a new machine is $70,000 plus an additional $8,000 for freight and setup costs. The old machine that is being replaced has a book value of $15,000 and can be sold for $7,000. An...
-
The cost of a new machine is $110,000 and it is expected to reduce the labour cost by $30,000 per year. The salvage value of the machine at the end of year six is expected to be $20,000. If the...
-
Marta purchased a home with an adjustable rate mortgage. The margin on an adjustable-rate mortgage is 5.5% and the rate cap is 6.5% over the life of the loan. If the current index rate is 8.9%, find...
-
For Problem 16.23, construct the A, X, and L matrices for the observations?
-
Sketch and explain in detail with practicality and concrete outcomes your tentative 15 years specialized career path in SCM (Supply Chain Management) and each evaluation criteria explanation done in...
-
You need to understand the approach described in question 3 in More Genetic TIPS before answering this question. A muscle-specific gene was cloned and then subjected to promoter bashing. As shown...
-
Five Bros., Inc., is an automobile maintenance and repair company with outlets throughout the western United States. The company controller is starting to assemble the cash budget for the fourth...
-
Transform the E-R model of project2 into a relational model. TransactionNo Date Hired Education Employee Address NumberOfItems Email 100 MemberD Name Transaction D Member TypeName Member Classify...
-
The following list presents different types of evaluations made by various users of accounting information: 1. Determining if the company respected income tax regulations 2. Determining if the...
-
Selected transactions for Harrison Company during November of the current year are listed in Problem 6-3A. Instructions Journalize the entries to record the transactions of Harrison Company for...
-
Journalize entries for the following related transactions of Greenville Heating & Air Company: a. Purchased $57,000 of merchandise from Wright Co. on account, terms 2/10, n/30. b. Paid the amount...
-
At December 31, 2014, Coburn Corp. has assets of $10,000,000, liabilities of $6,000,000, common stock of $2,000,000 (representing 2,000,000 shares of $1 par common stock), and retained earnings of...
-
Find the mass-radius necessary to statically balance the system by placing the center of mass on the axis of rotation for the following 2 masses in 3 dimensions. You are to balance the moments about...
-
Large undercooling creates a large driving force for nucleation while lower temperature reduces the thermally activated diffusive processes responsible for growth. Select one: True False
-
3. For the pendulum system below: a. Find the equation of motion for the system for large amplitude oscillations. b. Find the two equilibrium positions and indicate which is stable and which is not....
-
For the following statements, circle "T" for true and "F" for false: 1. Competitiveness means how effectively an organization meets the wants and needs of customers relative to others that offer...
-
on 2.The figure below displays the phase diagram. Identify all phase reactions that can happen (Show detailed analysis) [6] Temperature (C) 1400 1200 1000 800 600 R 5+1 20 a+p 40 4 4 42 40 7+1 7+ B...
-
If A is symmetric positive definite, then A is nonsingular and A-1 is also symmetric positive definite. In the case of a true statement, explain or prove your answer. In the case of a false...
-
Compile data on consumption and expenditures for the following categories in 30 different countries: (1) food and beverages, (2) clothing and footwear, (3) housing and home operations, (4) household...
-
(Rule-Making Process) In 1973, the responsibility for developing and issuing rules on accounting practices was given to the Financial Accounting Foundation and, in particular, to an arm of the...
-
(Rule-Making Process) In 1973, the responsibility for developing and issuing rules on accounting practices was given to the Financial Accounting Foundation and, in particular, to an arm of the...
-
(Rule-Making Process) In 1973, the responsibility for developing and issuing rules on accounting practices was given to the Financial Accounting Foundation and, in particular, to an arm of the...
-
Required 1 Required 2 For Year 5, prepare departmental income statements for Skis and Snowboards. Important! Be sure to click the correct Year at the top of the dashboard. BURTON Co. Departmental...
-
Green Marketing Legislation The European countries are way ahead of the United States in enforcing strict green marketing legislation (reducing packaging waste, recycling, etc. (read the short...
-
Transverse waves with a speed of 59.5 m/s are to be produced on a stretched string. A 5.85 m length of string with a total mass of 0.0600 kg is used. (a) What is the required tension in the string? N...
Study smarter with the SolutionInn App