A seller uses a perpetual inventory system, and on April 4, it sells $5,000 in merchandise (its cost is $2,400) to a customer on credit terms of 3/10, n/30. Complete the two journal entries to record the sales transaction by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. The first journal entry is to record the revenue part of the transaction and the second journal entry is to record the cost part.
Date Account Title Debit Credit
April 4 selectMerchandise InventoryAccounts ReceivableCashCost of Goods SoldSales select2,4002,5002,6005,000 select2,4002,5002,6005,000
selectMerchandise InventoryAccounts ReceivableCashCost of Goods SoldSales select2,4002,5002,6005,000 select2,4002,5002,6005,000
selectMerchandise InventoryAccounts ReceivableCashCost of Goods SoldSales select2,4002,5002,6005,000 select2,4002,5002,6005,000
selectMerchandise InventoryAccounts ReceivableCashCost of Goods SoldSales select2,4002,5002,6005,000 select2,4002,5002,6005,000
Answers: 3
Another question on Business
Business, 22.06.2019 15:10
Paying attention to the purpose of her speech, which questions can she eliminate? a. 1 and 2 b. 3 c. 2 and 4 d. 1-4
Answers: 2
Business, 22.06.2019 19:20
Win goods inc. is a large multinational conglomerate. as a single business unit, the company's stock price is estimated to be $200. however, by adding the actual market stock prices of each of its individual business units, the stock price of the company as one unit would be $300. what is win goods experiencing in this scenario? a. diversification discount b. learning-curveeffects c. experience-curveeffects d. economies of scale
Answers: 1
Business, 22.06.2019 21:10
Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is:
Answers: 3
You know the right answer?
A seller uses a perpetual inventory system, and on April 4, it sells $5,000 in merchandise (its cost...
Questions
Mathematics, 09.07.2019 10:00
English, 09.07.2019 10:00
Mathematics, 09.07.2019 10:00
Biology, 09.07.2019 10:00
Mathematics, 09.07.2019 10:00
Mathematics, 09.07.2019 10:00
Biology, 09.07.2019 10:00
