Purchases were made on account on August 5th in the amount of $100,000 with terms of 1/10, n/30. The bill was paid on August 14th. In a perpetual inventory system the journal entry to record the payment would include
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Purchases were made on account on August 5th in the amount of $100,000 with terms of 1/10, n/30. The bill was paid on August 14th. In a ...” 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
Geyer Company has the following account balances: Accounts Receivable: $40, Accounts Payable: $45, Cash: $70 and Notes Payable: $65. If the Notes Payable balance is listed as $56 in the trial balance, what impact will this have on the accounts
Answers (1)
What are some jobs that 14 year olds can have in Toledo Ohio?
Answers (1)
Taxpayers filing single, regardless of whether they did or did not engage in a specified service trade or business, will only be subject to the "ordinary" taxable income limitation if their taxable income falls at or below which amount? a. $0 b.
Answers (1)
In 1916, the Ford Motor Company produced 500,000 Model T Fords at a price of $440. The company made a profit of $60,000,000 that year.
Answers (1)
ASsume the following information: Accounts receivable (beginning balance) $140,000 Allowance for doubtful accounts (beginning balance) 11,490 Net credit sales 938,000 Collections 915,000 Write-offs of accounts receivable 5,900 Collections of
Answers (1)
New Questions in Business
A firm realizes that the market price has fallen below its average total costs, and it is now earning a loss. what is the best action for the firm to take in the short run?
Answers (1)
Fixed expenses: a. includes labor, raw materials, and commissions. b. can be estimated by taking into consideration the production. c. are incurred regardless of sales volume. d. must be linked to strategy in the business plan
Answers (1)
4) Which of the following is least likely to be your primary health care provider? a. an allergist b. an internist c. an obstetrician-gynecologist
Answers (1)
T/F A macroeconomist would be concerned with the following statement. "Two major hurricanes caused significant damage to the eastern seaboard and led to a fall in GDP and a rise in unemployment in the U. S. economy."
Answers (1)
At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end ofthe year, actual bad debts total $15,000. Record the write-off to uncollectible accounts.
Answers (1)