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
While the societal marketing concept considers the future welfare of consumers and the sustainable marketing concept considers future company needs, the strategic planning concept considers both. Group of answer choices True False
Answers (1)
Valerie deposited $2000 into an ira that grew to $5000 by retirement. if valerie is currently in the 15% tax bracket and retired, how much tax will she have to pay when she withdraws the entire $5000?
Answers (1)
Suppose a large apartment complex is infested with cockroaches that have never been exposed to glucose-baited poison.
Answers (1)
Jacob Co. sells merchandise on credit to Isaiah Co. for $9,700. The invoice is dated May 1 with terms of 1/15, net 45.
Answers (1)
Benson Company manufactures a personal computer designed for use in schools and markets it under its own label. Benson has the capacity to produce 41,000 units a year but is currently producing and selling only 12,000 units a year.
Answers (1)
New Questions in Business
The grocery store has bulk pecans on sale, which is great since you're planning on making 8 pecan pies for a wedding. How many pounds of pecans should you buy?
Answers (2)
If a country imposes a tariff on imported shoes, we expect the domestic price of shoes to ... And the quantity of shoes consumed in the domestic market to ... a.) Fall; rise b.) Fall; fall c.) Rise; fall d.) Rise; rise
Answers (1)
James hayes owns 510 shares of ohio utility preferred stock. if this preferred stock issue pays $3.50 per share, what is the total dollar amount mr. hayes will receive in one year?
Answers (1)
On behalf of Digital Cable Company, Ed signs an instrument in which he promises to deliver I, 000 feet of optic fiber cable to First Internet Bank on March l. This instrument is a. negotiable. b.
Answers (2)
Suppose that a tax is placed on books. if the sellers pay the majority of the tax, then we know that the
Answers (1)