On October 1, Courtland Company sold merchandise in the amount of $5,800 to Carter Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Courtland uses the periodic inventory system. Carter pays the invoice on October 8, and takes the appropriate discount. The journal entry that Courtland makes on October 8 is:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On October 1, Courtland Company sold merchandise in the amount of $5,800 to Carter Company, with credit terms of 2/10, n/30. The cost of ...” 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
Even if you recover at the last minute from a loss of balance or traction, there is still a risk that
Answers (1)
In North Korea, a farmer's income is the same as a dentist's income. In a country with a mixed or market economy, the difference between those two professions might be more than 5 times different.
Answers (1)
Managerial decisions will include all of the following except a. setting of capital stock prices. b. purchase of capital equipment. c. product costs. d. selling price.
Answers (1)
When treasury stock is reissued for more than cost, A. debit Cash and credit Treasury Stock. B. debit Cash and credit Treasury Stock and Paid-In Capital from Treasury Stock. C. debit Cash and credit Common Stock and Paid-In Capital from Common Stock.
Answers (1)
1. What affect does a rise in the cost of raw materials have on the cost of a good? (a) A rise in the cost of raw materials lowers the overall cost of production. (b) The good becomes cheaper to produce.
Answers (2)
New Questions in Business
Kyle and lyle want to pool their inheritance money to make a joint investment. they are young and are willing to accept moderate to high risk over a number of years. which combination of investment options best suits their needs?
Answers (1)
Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the year: Utilities for the store $ 10 comma 300 Sales commissions 10 comma 300 Sales revenue 164 comma 100 Purchases of
Answers (1)
If joe were to introduce himself as dr. early to sell to gensol, knowing that people would assume that he was a medical doctor, but never tell anyone that he was, would contracts entered into be considered to be fraudulent?
Answers (1)
Which of the following are reasons the aggregate demand curve is downward sloping? Check all that apply. 1) A higher price level decreases the real value of consumers' assets.
Answers (1)
If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years assuming a 12% annual return and quarterly compounding?
Answers (1)