The following are selected 2017 transactions of Blue Corporation. Sept. 1 Purchased inventory from Encino Company on account for $44,800. Blue records purchases gross and uses a periodic inventory system. Oct. 1 Issued a $44,800, 12-month, 8% note to Encino in payment of account. Oct. 1 Borrowed $44,800 from the Shore Bank by signing a 12-month, zero-interest-bearing $49,760 note. Prepare the necessary journal entries: g
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The following are selected 2017 transactions of Blue Corporation. Sept. 1 Purchased inventory from Encino Company on account for $44,800. ...” 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
At what governmental level are corporate charters issued?
Answers (1)
You are the manager of the packaging department in a cookie factory. (Obviously, the packaging employees cannot eat the cookies that are transferred in during the period.
Answers (1)
The number of days' sales in receivables a. is an estimate of the length of time the receivables have been outstanding. b. is not used. c. measures the number of times the receivables turn over each year. d. is Average Receivables / Sales.
Answers (1)
Dream House Builders, Inc. applies overhead by linking it to direct labor. At the start of the current period, management predicts total direct labor costs of $100,000 and total overhead costs of $20,000.
Answers (1)
Which of the following statements is false concerning the use of ABC in service industries? a. In most service industries, a large portion of overhead costs are company-wide costs. b.
Answers (1)
New Questions in Business
Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year: Units produced and sold 160,000 Cost of goods sold per unit $6.30 Selling price $11 Variable selling and administrative expenses per unit $1.
Answers (1)
What is NOT one of the three primary resources that families have to reach financial goals?
Answers (1)
Interest groups ___. Are most often set up by or work for elites and corporations Work to influence laws and policies Work to influence court rulings All of these answers
Answers (1)
What if the tile work had proceeded as contracted and looked good, but STR refused to pay, saying it didn't meet their personal satisfaction (even though the contract didn't mention this option). Could STR refuse to pay?
Answers (1)
You want to create a slide that lists the pros and cons of using cloud storage as part of your presentation on business technology. Which pre-set layout would you want to use? A. Content with caption B. Title only C.
Answers (2)