Answer:
$1,500
Explanation:
The computation of the amount adjusted on May 31 is shown below:
= (Purchase value of the merchandise - returned goods) × discount rate
= ($82,000 - $7,000) × 2%
= $1,500
The terms 2/10, n/30 represent the 2% discount is given if the payment is made within 10 days and the net days provided is 30 days
So, the amount adjusted is $1,500
This is true .............
Testee should make entry of Debit Cash.
<h3><u>
What is debit?</u></h3>
- A debit is an accounting entry that affects a company's balance sheet by increasing assets or decreasing liabilities.
- In basic accounting, credits that operate in the inverse direction of debits balance each other out.
- For instance, depending on the loan's terms, if a company takes out a loan to buy equipment, it will simultaneously debit fixed assets and credit a liabilities account. Sometimes "dr," the acronym for "debtor," is used to refer to debit.
Every double-entry accounting system has a debit option. The polar opposite of credits is a debit. Credits indicate money coming into an account, whereas debits represent money leaving it. As Debit Service Charge, Expense (3% of the revenue--$200) Credit Sales Revenue.
Know more about debit with the help of the given link:
brainly.com/question/12269231
#SPJ4
<span>The managers are engaging in quality control to lessen the
error of the result of the operation in the company. Quality control is maintaining
the standards of company products by testing the products. It is also the way
of ensuring the quality of products or services they rendered.</span>
But is it good to learn new ideas, so you can grow...
