Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offered a 15% price reduction. Gershwin would record this reduction by crediting accounts receivable and debiting: a) Sales discounts. b) Sales. c) Sales returns. d) Sales allowances.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offered a 15% ...” 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
Is all food in the solid state
Answers (2)
When bart heard an ad state that kraft's pasta anytime microwave meals could be prepared in three minutes, he thought that he would find the meals in his supermarket's frozen food aisle with other microwave meals.
Answers (1)
In preparing its cash flow statement for the year ended December 31, Reve Co. collected the following dа ta:Gain on sale of equipment$ (6,000) Proceeds from sale of equipment 10,000Purchase of A. S., Inc.
Answers (1)
During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $4,100 from Diamond Inc. with terms 2/10, n/30. 5 Returned goods costing $1,100 to Diamond Inc.
Answers (1)
Given that the interest rate is 10%, the factor for the future value of annuity due of 1 for n = 5, i = 10% is equal to:
Answers (1)
New Questions in Business
That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified through a (n) a. balance sheet b. trial balance c. chart of accounts d. income statement
Answers (1)
Coronado Shoes Fool Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the case.
Answers (1)
Suppose during 2014 that Federal Express reported the following information (in millions) : net sales of $35,497 and net income of $98.
Answers (2)
During a certain four-year period, the consumer price index (CPI) increased by 30%, but during the next four-year period, it increased by only 10%. Which of these conditions must have existed during the second four-year period? A. Deflation B.
Answers (2)
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct materials requirement per unit is 2 ounces (oz.).
Answers (1)