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RideAnS [48]
2 years ago
11

To record a customer's check in full payment for a sale that was made the prior month, the company should debit the ____________

account.
A. Unearned Sales
B. Sales Accounts
C. Payable Cash
D. Accounts Receivable
Business
1 answer:
bearhunter [10]2 years ago
6 0

To record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

<h3>Payable cash account</h3>

Based on the information given the appropriate journal entry to record a customer's check in full payment for a sale is:

Journal entry

Debit Payable Cash account

Credit Sales accounts

(To record customer's check in full payment)

Inconclusion to record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

Learn more about payable cash account here:brainly.com/question/4656883

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During the year, Trombley Incorporated has the following inventory transactions.
Furkat [3]

Answer:

a. Ending inventory = $162, Cost of Sales = $593, Gross Profit = $478

b. Ending inventory = $227, Cost of Sales = $528, Gross Profit = $543

c. Ending inventory = $492.30, Cost of Sales = $557.94 , Gross Profit = $513.06

d. FIFO

Explanation:

FIFO

Ending inventory = 18 units × $9   = $162

                                Total               = $162

Cost of Sales = 11 units × $13 = $143

                         16 units × $12= $192

                         21 units × $11 = $231

                           3 units × $9 = $27

                         Total              = $593

Gross Profit = Sales less Cost of Sales

                   = (51 units × $21) - $593

                   = $1,071 - $593

                   = $478

LIFO

Ending inventory = 11 units × $13    = $143

                                 7 units × $12   =  $84

                                 Total               = $227

Cost of Sales = 9 units × $12 = $108

                         21 units × $11 = $231

                         21 units × $9 = $189

                         Total              = $528

Gross Profit = Sales less Cost of Sales

                   = (51 units × $21) - $528

                   = $1,071 - $528

                   = $543

Weighted-average cost

First determine the average cost.

Average cost = Total Cost / Total units

                      = $ 755 / 69

                      = $10.94

Ending inventory = Units Remaining × Average Price

                             = 45 units × $10.94

                             = $492.30

Cost of Sales = Units Sold × Average Cost

                      = 51 units × $10.94

                      = $557.94

Gross Profit = Sales less Cost of Sales

                   = (51 units × $21) - $557.94

                   = $1,071.00 - $557.94

                   = $513.06

8 0
2 years ago
The operating ratio for a PC insurer equals _________. A. loss ratio plus the ratios of loss adjustment expenses to premiums ear
FinnZ [79.3K]

Answer:

. E. combined ratio after dividends minus the investment yield

Explanation:

The operating ratio for a PC insurer

can be regarded as the comparison of total expenses of a company compared to net sales generated or the generated revenue. The operating ratio gives the measurement of a overall operational profitability of a firm from both underwriting as well as investment activities. It can be calculated by finding the ratio of

(property's operating expense after substraction of depreciation) and ( the gross operating income). It should be noted that The operating ratio for a PC insurer equals combined ratio after dividends minus the investment yield.

8 0
2 years ago
The Puyer Corporation makes and sells only one product called a Deb. The company is in the process of preparing its Selling and
bezimeni [28]
Total= $159,552



Giving the following information:
The company has budgeted to sell 15,600 Debs in February.
Sales commissions $ 0.96*15,600= 14,976
Shipping $ 1.46 *15,600= 22,776
Executive salaries $ 60,600
Depreciation on office equipment $ 20,600
Other $ 40,600
Total= $159,552
8 0
2 years ago
My account is not working right, I need someone to get ahold of me or fix it. We ordered brainly plus and I've been charged but
Harman [31]

Answer: Have you tried to restart the app or browser? How long ago did you purchase it? If it was today or yesterday you may need to wait a bit.

Explanation: It takes time for the transaction to go through. Trust me, my mom works at a bank.

7 0
2 years ago
Read 2 more answers
Zoe runs a flower shop. She recently made some changes so that one employee answers phones and completes the order and payment p
ankoles [38]

Answer: E. Task identity

Explanation:

Task identity is the degree/extent to which an employee execute an entire, recognizable piece of work

4 0
3 years ago
Read 2 more answers
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