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
ryzh [129]
3 years ago
11

Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $110,500, terms FOB shipping point, 2/

10, n/30. The cost of the goods sold is $66,300. Shore paid freight of $1,900. Journalize Shore Co.'s entry for the sale, purchase, and payment of amount due.
Business
1 answer:
alisha [4.7K]3 years ago
5 0

Answer:

account receivable debit 110,500

sales revenue credit 110,500

freight-out debit 1,900

cash credit 1,900

COGS debit 66,300

inventory credit 66,300

Explanation:

the sales will be recorded as nominal, because there is no information about the customer taking the discount or paying within this period.

Because term are FOB shipping point, the freight corespond to shore Co

You might be interested in
The Spanish and Portuguese focused colonization in North America.<br><br><br> True<br> False
AleksAgata [21]
<span>No, the Spanish and Portuguese focused their colonialism in Latin America and South America, especially Brazil.</span>
5 0
3 years ago
Please complete the following sentence from our reading: This brings us to the second reason mass media models are persuasive: T
Rina8888 [55]

Answer:

Desired and welcomed in various social situations

Explanation:

Mass media reaches the large audiences, whether it is internet, television or radio. The influence on everyday life is therefore very strong, whether it is the way we vote, our individual views and believes or shaping of our knowledge about certain topic based on true or false information.

7 0
3 years ago
Who do you like better?? BTS or BlackPink???
Snowcat [4.5K]

Answer:

bts, you? (:

Explanation:

3 0
3 years ago
A firm has sales of $1.8 million, and 20 percent of the sales are for cash. The year-end accounts receivable balance is $225,000
Juliette [100K]

Answer:

The average collection period is 56.25 days

Explanation:

The average collection period is the number of days' sales in receivables and calculated by using following formula:

The number of days' sales in receivables = 360/Accounts receivable turnover ratio

Accounts Receivable Turnover = Net Credit Sales/Accounts Receivable

Net Credit sales = Total Sales - the sales are for cash = $1,800,000 - 20% x $1,800,000 = $1,440,000

Accounts Receivable Turnover = $1,440,000/$225,000 = 6.4 times

The number of days' sales in receivables = 360/6.4 = 56.25 days

7 0
3 years ago
A pair of shoes is a example of ____ someone might purchase it is not a service
aniked [119]
Style either or respect
5 0
3 years ago
Other questions:
  • When determining costs of jobs, how does a company account for indirect materials?
    14·1 answer
  • The demand for all carbonated beverages is likely to be ________ the demand for dr. pepper. more elastic than perfectly elastic
    14·1 answer
  • Carol was recently fired from her job as a purchaser for a grocery store. she was told the reason for her dismissal was the almo
    9·2 answers
  • The business risk of a company: Multiple Choice
    5·1 answer
  • To a macroeconomist, a trade deficit is synonymous with which of the following?
    8·1 answer
  • I need help with number 6 please
    14·1 answer
  • On January 1, 2018, Race Corp. acquired 80% of the voting common stock of Gallow Inc. During the year, Race sold to Gallow for $
    6·1 answer
  • Which of the following items is not classified as other comprehensive income (OCI)?
    6·1 answer
  • GDP is not a perfect measure of well-being; for example, a. GDP incorporates a large number of non-market goods and services tha
    5·1 answer
  • Discuss the major options organizations have for reducing labor surpluses. In doing so, discuss how they vary in terms of speed
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!