i belive the answer is <em><u>447,250 </u></em> of the net income
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Answer:
4600
Explanation:
Rent expense is 6000 but he still owed 1400 of that. So he paid 4600 (6000-1400)
Answer:
C. DEBIT TO SALES RETURNS
D. CREDIT TO ACCOUNTS RECEIVABLE
Explanation:
The journal entry to record the May 15 transaction is shown below:
Sales return and allowance A/c Dr $40,000
To Accounts receivable $40,000
(Being sales return is recorded)
For recording the given transaction we debited the sales return and credited the account receivable. Both are recorded for $40,000
False - because not every business plans work