Explanation:
The journal entries are shown below:
1. Sales return and Allowances A/c Dr $400
To Account receivable A/c $400
(Being the returned inventory is recorded)
2. Merchandise inventory A/c Dr $100
To Cost of Goods sold A/c $100
(Being the cost of inventory is recorded)
Since the merchandise inventory is returned for $400 and the same is recorded and together with the cost of the merchandise inventory is also recorded
Allen is recording payroll that was processed outside. journal entry quick books function would be most useful.
The QuickBooks accounting software suite was developed and is offered for sale by Intuit. The first version of Quicken did not function as a "double-entry" accounting program. Small and medium-sized businesses are the main target market for QuickBooks products, which were initially released in 1983. They provide on-premises accounting programs as well as cloud-based versions that collect payments from clients, manage and pay bills, and manage payroll. The inaugural QuickBooks release was the DOS version, which was built on the Quicken codebase. The Windows and Mac versions, which shared a different codebase, were built on the In-House Accountant software that Intuit had acquired. The program was preferred by small business owners who lacked fundamental accounting expertise. The program quickly accounted for up to 85% of the small business as a result.
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Answer:
<h2>
13/25</h2><h2>
0.52</h2><h2>
52%</h2>
Explanation:
13:25 is just a fraction (13/25)
13:25= 0.52 (decimal)
So when you divide 13 by 25, you get 0.52. To make that into a percentage, you just multiply it by 100 (move the decimal over 2 places to the left). That gives you 52%
Solution:
The home sells for = $120000
The commission that is paid by the seller is 3 percent
Therefore, commission = 3% of $120000 = $3600
The sales-person is on a 65 percent commission schedule with her broker which means that the saleperson gets the 65 percent amount of the commission.
Thus, the amount which is received by the salesperson from the given transaction is = 65% of $3600 = $2340
Therefore, the salesperson receives $2340 amount from the said transaction.