Account payables are a Current asset Equit Asset - Current liabilitie Quez pre question HSM on July 1.2017sells merchandise on account to Polo Company for $10,000 Terms 2/10, 1/30 Prepare the Journal entry to record this transaction on the books of H&M note Receivable 1000 Sales Revenue 1000 note Receivable 10,000 Sales Revenue 10,000 Accounts Receivable(/) 10,000 Sales Revenue 10,000 Accounts Receivable(A/R) 1000 Sales Revenue 1000 Type here to search On July 5. Polo returns merchandise worth $500 to H&M Co. Prepare the Joumal entry to record this transaction on the books of H&M Sales Revenues 500 Accounts Receivable 500 Sales Returns 500 Accounts Receivable 500 A/R 500 Sales retum 500 Sales discount 500 Accounts Receivable 500 Question 23 Not hit wilwered Marted out of p Flag question Moon Corporation was organized on January 1, 2019. It is authorized to issue 100,000 shares of 9%, 5100 par value prefere shares and 1,000,000 shares of S1 par value of ordinary shares. The following transactions were occurred during the firsty December 31. Determined net income $250,000 The correct Journal entry on December 31 dividends 250,000 Retained Earnings 250,000 250,000 Income Summary Equity 250,000 250,000 Retained Earnings Income Summary 250,000 250,000 Income Summary Retained Earnings 250,000 Type here to search