Answer:
The Journal entries are as follows:
(i) On December 18,
Cash A/c Dr. $246,000
To unearned revenue $246,000
(To record the receipt of cash)
(ii) On January 23,
Cash A/c (Bal) Dr. $2,214,000
Unearned revenue A/c Dr. $246,000
To sales $2,460,000
(To record sales revenue)
(iii) On January 23,
Cost of goods sold A/c Dr. $1,460,000
To Inventory $1,460,000
(To record cost of goods sold)
Mussolini wanted economic growth and an end to workplace conflicts. He brought the economy under state control, allowed business, labor, and government to control various economic activities, and made strikes illegal.
Answer:
C.a debit to Sales Returns and Allowances and a credit to Accounts Receivable.
Explanation:
The journal entry to record the returns of merchandise is shown below:
Sales return and allowance A/c Dr XXXXX
To Accounts receivable XXXXX
(Being sales return is recorded)
Basically we debited the sales returns and allowances and credited the account receivable so that the proper recording could be made.
Explanation:
Based on the given conditions, formulate;
75000- 60000= 15000