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IceJOKER [234]
4 years ago
10

A company using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. de

fective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be ________.
Business
1 answer:
NikAS [45]4 years ago
6 0

Answer:

$500,000 debit to Accounts Payable and​ $500,000 credit to Cash

Explanation:

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merchandise costing 1200 is sold for 2200 on term 2/30,n/60. If the customer pays within the discount period. Prepare the journa
spin [16.1K]

Answer:

The journal entries are as follows:

(a) Accounts receivables [$2,200 - 2%] A/c Dr. $2,156

             To Sales revenue                                              $2,156

(To record the sale)

(b) Cost of Goods Sold A/c Dr. $1,200

          To inventory                                $1,200

(To record the cost of goods sold)

(c) Cash A/c Dr. $2,156

       To Accounts receivables  $2,156

(To record payment within discount term)

3 0
3 years ago
True or False: Stress is always present.
DIA [1.3K]
I would say false. Stress isn't always 100% there, but I'll not sugarcoat it: There is a LOT of stress when it comes to running a business, especially a small one. I would know, because my mother runs one, and she is almost constantly stressed out. Let it be deadlines, or taxes, or her employee didn't come in that morning, there is much stress. But again- it's NOT always there. It's extremely rare, but sometimes you are actually stress free. 

I hope this helped! Please take the time to rate, pick the Brainliest answer (not necessarily mine!), and thank me if you feel I helped with this question! Thank you, it helps me a lot. :) 
4 0
4 years ago
Read 2 more answers
Which of the following is/are correct?
Elanso [62]

Answer:

c. III only

Explanation:

The correct option is - c. III only

Reason -

III option is correct because The trade-off theory states that there is an optimal level of debt for firms, given the benefits of tax shields and the costs of financial distress

5 0
3 years ago
what describes the business need (the problem the project will solve) and the justification, requirements, and current boundarie
jeka94

A project plan describes the business need (the problem the project will solve) and the justification, requirements, and current boundaries for the project. The correct option of this question is c i.e. project plan.

A project plan is formal documentation that defines the stages of the project and its execution. This includes the business need, the resources required and their justification and optimized application and the extents of the project. Project planning is done by the project managers and project planning softwares is used for this purpose. It is the who, how, what, why, where and when of a project.

<u>The other options are incorrect because:</u>

  • Project scope is a part of a project plan and it determines what the extents, limits and boundaries of the project are.
  • Project management is the use of specific tools and expertise to ensure the successful completion of a project.
  • Project manager is the individual who plans, organizes and executes projects.

You can learn more about project plan at

brainly.com/question/15410378

#SPJ4

7 0
2 years ago
Chance is a traveling marketing representative for a publishing company. He is an independent contractor and was hired without n
Yuki888 [10]

Answer:

hold Chance but not the company liable

Explanation:

In this scenario Chance is an independent contractor so his actions are not representative of the companie's.

When an independent contractor causes damages while working the company will not be held liable for his negligence.

So in this scenario where Chance negligently runs a stop sign and causes an accident and Judy is injured. Only Chance is liable

5 0
4 years ago
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