Answer:
The Journal entries are as follows:
(a) On November 5,
Merchandise inventory A/c Dr. $6,000
To Accounts payable $6,000
(To record the purchasing of Merchandise inventory)
(b) On November 7,
Accounts payable A/c Dr. $250
To Merchandise inventory $250
(To record the returned units)
(c) On November 15,
Accounts payable A/c Dr. $5,750
To cash $5,635
To Merchandise inventory $115
Workings:
Final amount due:
= Cost of goods purchased - Cost of goods returned
= 6,000 - 250
= $5,750
Discount amount:
= Final amount due × Discount percentage
= 5,750 × 2/100
= $115
Cash payment to be made:
= Final amount due - Discount amount
= 5,750 - 115
= $5,635
<span>The correct answer should be D. Negative punishment.</span>
Answer: $50,000
Explanation: This is why I believe the answer is $50,000
- When the shipping terms are FOB
destination, the seller has the responsibility of all costs of
transporting the goods to the buyer.
Therefore, the seller is responsible for the
payment of packaging costs ($1,000),
shipping costs ($4,500), and the special
handling charges ($2,000). The only
amount to be included as the buyer's cost
of the inventory purchased is the purchase
price ($50,000).
An apprenticeship would be working as an intern because it’s not an actual job but your working there to learn more about it working as an intern involves a little knowledge on that it’s like a practice or training and it’s a system for training a new generation of practitioners of a trade or proffesion with on-the-job training hope that helps :)
