Answer: The journal entry for this returned purchase is as follows;
Dr. Sales Returns and Allowances $500
Dr. Merchandise Inventory $150
Cr. Accounts Receivable $500
Cr. COGS $150
Explanation:
The sales account is the revenue of the good/item purchased. The merchandise inventory is a type of an assets. The journal entry is important to a business so that they can track expenses incurred for the returned item. A new entry will need to be made when a new sale is made.
I would say the answer is retail sales, no sales= no business= no money= bankrupt
Answer:
See below
Explanation:
Given that:
Direct materials = $365
Direct labor = ($13 × 15) = $195
Factory overhead = ($19 × 15) = $285
Total cost is computed as
= Direct material + Direct labor + Factory overhead
= $365 + ($13 × 15) + ($19 × 15)
= $365 + $195 + $285
= $845
Therefore the total cost that should be assigned to the job is $845
Out of the following choices, low grade gasoline is a product that is considered a commodity. The lower grades of gasoline are more affordable for people to buy.
The activities are covered by OSHA's steel erection regulations include D. Compliance, regulation, and penalties.
<h3>What is OSHA?</h3>
It should be noted that OSHA simply means occupational safety and health administration.
In this case, the activities are covered by OSHA's steel erection regulations include Compliance, regulation, and penalties.
Learn more about OSHA on:
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