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vlada-n [284]
2 years ago
6

On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses

the gross method of accounting for sales discounts. What is the correct entry for Flores on November 17, assuming the correct payment was received on that date
Business
1 answer:
frez [133]2 years ago
3 0

The appropriate journal entry to record the transactions is: Debit Cash $7,840; Debit Sales discount $160; Credit Account receivable $8,000.

<h3 /><h3>Journal entry</h3>

The correct entry to record the transaction is:

November 17

Debit Cash $7,840

(98%×$8000)

Debit Sales discount $160
(2%×$8000)

Credit Account receivable $8,000

Therefore the appropriate journal entry to record the transactions is: Debit Cash $7,840; Debit Sales discount $160; Credit Account receivable $8,000.

Learn more about journal entry here:brainly.com/question/14279491

#SPJ1

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7 0
3 years ago
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Answer:

franchising

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According to my research on different business strategies, I can say that based on the information provided within the question Entrepreneurs purchasing such a license are engaging in franchising. This is when the owner of a brand licenses the name to a specific individual so that individual can open up his/her own store using that name and reputation. These licenses come with certain requirements placed by the owner of the brand that the buyer must follow.

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4 0
2 years ago
In making about what to consume, person's goal is to​
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Answer:

allocate her limited income among all the products she wishes to buy so that she receives the highest total utility is the correct answer.

Explanation:

5 0
3 years ago
Which best describes the future growth potential of the Marketing, Sales, and Service career cluster?
Eva8 [605]
<h2>Answer</h2>

Growth is expected to grow much more quickly than average.

<h3>Explanation</h3>

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3 years ago
Read 2 more answers
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