Answer: Cash $1,960
Sales returns and allowances $800
Sales discount $40
Accounts receivable $2,800
Explanation:
Sales = $2,800
Sales returns = $800
Discount rate = 2%
The final amount due will be:
= Sales- Sales returns
= $2,800 - $800
= $2,000
Sales discount = 2% × $2,000 = $40
Cash received will be:
Final amount due - Sales discount
= $2,000 - $40
= $1,960
The journal entry will be:
Debit Cash $1,960
Debit Sales returns and allowances $800
Debit Sales discount $40
Credit Accounts receivable $2,800
Not slouching. having good eye contact. have good hand gestures.
Answer:
Fifo
Explanation:
Because the stock that is bought first should be the one to be purchased first
Answer:
The answer is: Their inventory levels will increase
Explanation:
When companies use the Just in Time (JIT) they reduce their ordinary inventory to a minimum level, without any safety stock and that help them lower costs and improve their efficiency.
Since Hanson is changing from the JIT inventory system to a more traditional inventory system, their inventory levels should increase to include certain safety stock levels.
