A company purchased $1,800 of merchandise on july 5 with terms 2/10, n/30. on july 7, it returned $200 worth of merchandise. on july 28, it paid the full amount due. assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the purchase on july 5 is:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A company purchased $1,800 of merchandise on july 5 with terms 2/10, n/30. on july 7, it returned $200 worth of merchandise. on july 28, it ...” 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
With a traditional savings account, you could be charged a fee if:You close the account BYou withdraw money too often CYou open an account online DYou deposit too much money at once
Answers (1)
A successful quality strategy begins with A. an understanding of the principles of quality. B. satisfying customers and obtaining a competitive advantage. C. engaging employees in the necessary activities to implement quality. D.
Answers (1)
What is a mass number
Answers (1)
Jill is interested in starting a new business, but she wonders if she would be good at it. She takes a personality test to try to understand her strengths and weaknesses as an entrepreneur.
Answers (1)
The Darwin Company reports the following information: Sales $76,500 Direct materials used 7,300 Depreciation on factory equipment 4,700 Indirect labor 5,900 Direct labor 10,500 Factory rent 4,200 Factory utilities 1,200 Sales salaries expense 15,600
Answers (1)
New Questions in Business
An increase in the degree a good is liked (the increase in the taste for a good) would
Answers (1)
Art, Inc., has 2,500 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding from December 31, 2015 through December 31, 2017. There were no dividends declared in 2015.
Answers (1)
Salvatori, Inc., manufactures and sells two products: Product A4 and Product Q5. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected
Answers (1)
Adam's bank account has a balance of $1213.69 before he starts spending money. He makes the following transactions: Transaction Cost ($) Car payment 260.16 Groceries 97.98 Parking ticket 75.00 DVD box set 115.35 Antique lamp 68.53 Suit 331.
Answers (2)
When is a goodwill impairment loss recognized? a. Annually on a systematic and rational basis. b. Never When both the fair value of a reporting unit and its associated implied goodwill fall below their respective carrying values. c.
Answers (1)