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zheka24 [161]
4 years ago
15

On September 12, Vander Company sold merchandise in the amount of $4,600 to Jepson Company, with credit terms of 2/10, n/30. The

cost of the items sold is $3,175. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $400 and the cost of the merchandise returned is $280. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Vander makes on September 18 is:
Business
1 answer:
Hitman42 [59]4 years ago
4 0

Answer:

Dr Cash 4,116

Dr Sales discounts 84

Cr Accounts receivable 4,200

Explanation:

Vander Company Journal entry

Dr Cash 4,116

(4,200-82)

Dr Sales discounts 84

Cr Accounts receivable 4,200

Calculation of Sales discounts

4,200*2%

=84

Merchandise

(4,600-400)

=4,200

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4 years ago
To be included in property, plant, and equipment, an asset must have all of the following except Group of answer choices a. the
tester [92]

Answer:

b. the asset must have an expected life of a normal operating cycle.

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3 years ago
Gentle Ben's Bar and Restaurant uses 6,700 quart bottles of an imported wine each year. The effervescent wine costs $4 per bottl
Marat540 [252]

Answer:

a. The answer is:762 bottlé.

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7 0
3 years ago
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