Answer:
C : $686
Explanation:
The computation of the cash received amount is shown below:
= (Sale value of merchandise - returned merchandise) × (100 - discount rate)
= ($1,000 - $300) × (100 - 2%)
= $700 × 98%
= $686
Since the payment is made within 30 days, so the company could avail the discount of 2% and the return goods should be deducted so that the actual amount of cash received can come.
The right answer for the question that is being asked and shown above is that: "d) All answers are correct." The situation that could have tipped Elise of is that of requiring a free course on money management; charging large monthly fees for the service;<span> asking her to cancel most of her credit cards</span>
Answer:
Detaled solution can be seen in the attached diagrams:
Answer:
Date Account Title Debit Credit
May 7 Materials $9,600
Accounts Payable $9,600
<u>Working:</u>
= Units purchased * cost per unit
= 640 * 15
= $9,600
As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.
