On September 12, Ryan Company sold merchandise in the amount of $8,000 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $5,100. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On September 12, Ryan Company sold merchandise in the amount of $8,000 to Johnson Company, with credit terms of 2/10, n/30. The cost of the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Len Corp. reported net sales of $300 million last year and generated a net income of $66.00 million. Last year's accounts receivable increased by $29 million. What is the maximum amount of cash that Len Corp. received from sales last year?
Answers (1)
How are most stocks bought and sold?
Answers (2)
Which of the following is most likely to be true of keep-or-drop decisions? It focuses on whether a specially priced order should be accepted or rejected. It focuses on whether the sale of a product line should continue or be stopped.
Answers (1)
The county determined it needed to prepare a budget amendment to reflect a decrease in charges for services of $100,000 and an increase in public safety expenditures of $150,000.
Answers (1)
Suppose Mexico can produce 5 autos or 10 corn. Suppose the United States can produce 4 autos or 20 corn. If opportunity costs are constant for both countries, which of the following would NOT be a potential terms of trade? A. 1 auto for 3 corn B.
Answers (1)
New Questions in Business
The pricing function is an integral part of the companies :
Answers (1)
A company calculates the value of inventory by using the lower-of-market valuation method. which value should the company report for the inventory item for the period?
Answers (1)
To test an herbal treatment for acid reflux disease, 100 volunteers who suffered from mild indigestion were randomly divided into two groups. Each person was given a month's supply of tea bags.
Answers (1)
A facility management pro forma cash flow statement has beginning accounts receivable and payable balances of ¥18,000,000 (Japanese Yen) and ¥20,000,000.
Answers (1)
Which of the following statements about the consumers' responses to rising gasoline prices is correct? a. Because gasoline is a necessity, consumers do not decrease their quantity demanded in either the short run or the long run. b.
Answers (1)