At the preston company, purchases are recorded at net amounts. on august 5, $40,000 worth of merchandise was purchased on account for terms of 2/10, n/30 and recorded for $40,000. $3,000 of this merchandise was returned, and the account was credited for $3,000. to reflect the net amount, accounts payable should be adjusted by
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “At the preston company, purchases are recorded at net amounts. on august 5, $40,000 worth of merchandise was purchased on account for terms ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is China biggest source of income
Answers (1)
A company purchased equipment and signed a 5-year installment loan at 10% annual interest. The annual payments equal $11,600. The present value of an annuity factor for 5 years at 10% is 3.7908.
Answers (1)
A flexible budget performance report compares the differences between: budgeted performance over several periods. actual performance and standard costs at the budgeted sales volume.
Answers (1)
Suppose Compco Systems pays no dividends but spent $ 5.19 billion on share repurchases last year. If Compco's equity cost of capital is 11.5 % , and if the amount spent on repurchases is expected to grow by 8.
Answers (1)
Governments shoulder the computer-related ethical responsibilities of entire countries and cultures. these responsibilities generally fall into two categories:
Answers (1)
New Questions in Business
Roberta, a store manager, uses her coercive power effectively to motivate employees. because of her coercive power, roberta would be able to
Answers (1)
Economic profit is smaller than accounting profit because: (A) accounting profit does not account for explicit and implicit costs. (B) accounting profit accounts for explicit and implicit costs.
Answers (1)
How would u approach a fellow co-worker consistently does not perform hand-hygiene when it is indicated or appropriate.
Answers (1)
In 2020, Quapau Products introduced a new line of hot water heaters that carry a one-year warranty against manufacturer's defects. Based on industry experience, warranty costs were expected to approximate 5% of sales revenue.
Answers (1)
Explain why the Industrial workers of the World (IWW) grew so rapidly and aroused so much opposition.
Answers (1)