Myers and Company sold $1,800 of merchandise on account to Oscar, Inc. on March 1 with credit terms of 2/10, n/30. Oscar returned $500 of the merchandise due to poor quality on March 3. If Oscar pays for the purchase on March 11, what entry does Myers make to record receipt of the payment? A. Cash 1,800Sales Discount 36Accounts Receivable 1,764B. Cash 1,764Accounts Receivable 1,764C. Cash 1,800Sales Returns and Allowances 500Accounts Receivable 1,300D. Cash 1,274Sales Discount 26Accounts Receivable 1,300
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Myers and Company sold $1,800 of merchandise on account to Oscar, Inc. on March 1 with credit terms of 2/10, n/30. Oscar returned $500 of ...” 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
Rogers Insurance Agency started the year with a beginning capital balance of $ 25 comma 000. During the year, Rogers Insurance Agency earned $ 41 comma 000 of Service Revenue and incurred $ 26 comma 000 of various expenses.
Answers (1)
If the MPC is 0.8, the Marginal Propensity to Save is?
Answers (1)
1. How is inflation measured? Fill in the blanks to complete the passage about the CPI and the GDP deflator. The Consumer Price Index (CPI) and the GDP deflator are both price indices, so they both serve as measures of inflation.
Answers (1)
For each of the following costs incurred in a manufacturing firm, indicate whether the costs are most likely fixed (F) or variable whether they are most likely period costs (P) or product costs (M) under full absorption costing: Fixed (F) Variable
Answers (1)
What effect may result if specific account titles are not used in journalizing? the financial statements may be not be accurate?
Answers (1)
New Questions in Business
On June 1, Davis Inc. issued an $84,000, 5%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30.
Answers (2)
You invest $50,000 now and receive $10,000 per year for 15 years starting at the end of the first year.
Answers (1)
A high school currently require students to purchase a parking pass in order to park in the parking lot, but for the coming year they are considering letting all students park for free.
Answers (2)
An oligopolistic market structure is distinguished by several characteristics, one of which is a difficult entry. Which of the following are other characteristics of this market structure? Check all that apply. a. Market control by many small firms.
Answers (1)
Who should you' alert that you are interviewing for jobs? A. Your references B. Other possible employers C. Your classmates D. Your present employer
Answers (1)