1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
White raven [17]
3 years ago
13

Grant Manufacturing purchased $10,000 of merchandise inventory on account from a vendor and was billed $300 for freight. The cre

dit terms are 2/10, n/30. Because some of the merchandise was not what was ordered, Grant Manufacturing returned $2,000 the same day. Grant Manufacturing uses the perpetual inventory system and made payment for the merchandise, less the return, within the discount period. The journal entry to record the payment after the return within the discount period would be:
Business
1 answer:
ser-zykov [4K]3 years ago
3 0

Explanation:

The journal entry is shown below:

Accounts Payable A/c Dr $8,300              

                  To Cash A/c  $8,140

                  To Merchandise Inventory A/c $160       ($8,000 × 2%)

(Being the purchase of merchandise is recorded)

The computation is shown below:

For account payable

= $10,000 + $300 - $2000

= $8,300

For cash account

= $8,300 - $160

=$8,140

You might be interested in
One positive side-effect of bipolar encoding is that a bipolar violation (two consecutive + pulses or two consecutive —pulses se
a_sh-v [17]

Answer:

See attachment below

Explanation:

4 0
3 years ago
Sasha is a single woman who is paid $16 per hour for 2,000 hours of work per year. Using her exemption of $4,050 and her standar
densk [106]
For this case what you must do is the following operation:
 Taxable income = Household income-Personal exemption-Standard deduction.
 Substituting the values we have:
 Taxable income = ((16) * (2000)) - (4050) - (6350)
 Taxable income = 21600 $
 Answer: 
 her taxable income is 21600 $
4 0
3 years ago
Read 2 more answers
Downward influence is best achieved through
jonny [76]

Answer:

C- an inspiring vision

Explanation:

Downward influence is the ability to influence employees lower than you. This is best achieved through an inspiring vision. By articulating a clear vision, you help people see the end goal and move toward it. You often don’t need to specify exactly what needs to be done to get there—people will be able to figure it out on their own. An inspiring vision builds buy-in and gets people moving in the same direction.

7 0
3 years ago
What must happen to the market price in order for a shortage to be eliminated?
sweet-ann [11.9K]
In order for a shortage to be eliminated, the price must rise.
7 0
3 years ago
As a business owner, you find that your resource prices are increasing often. Because these costs are rising, you find it necess
pishuonlain [190]

Answer:

The right answer is Option b (menu costs).

Explanation:

  • Menu expenses or costs would be the expenses a company entails if it modifies its pricing often, the most important approach to pay for the menu would be to keep particular pricing persistent.
  • And that if an organization employee regularly changes significantly pricing owing to an improvement throughout commodity price marketing expenses are involved.

The other four choices are not connected to the given query. So the above is the right approach.

6 0
3 years ago
Other questions:
  • Which of the following is true about product​ markets?
    12·1 answer
  • High-End Fashions, Inc., bought a production line of ankle-length skirts last year at a cost of $500,000. This year, however, mi
    11·1 answer
  • Define specialization and, with an example, show how specialization and voluntary exchange benefit both buyers and sellers in th
    14·1 answer
  • Economists make assumptions to represent their political bias. focus their thinking. make models easier for students to understa
    15·1 answer
  • A formal written statement of management's plans for the future, expressed in financial terms, is a a.budget b.gross profit repo
    8·1 answer
  • Chuck offers $240,000 for a house. The seller turns down the offer but says she will sell the house for $260,000. However, Chuck
    12·1 answer
  • Feel great. smell great," goes the warm, lilting theme song of a television ad for perfume, as the model dances through a field
    10·1 answer
  • Balance Sheet
    6·1 answer
  • What is an introductory APR and how does it compare to a standard APR?
    5·2 answers
  • For the past year, lp gas, inc., had cash flow from assets of $38,100 of which $21,500 flowed to the firm's stockholders. the in
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!