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fredd [130]
3 years ago
7

On April ​3, a customer returned $ 900 of merchandise that had been purchased with cash to Cooke Supplies. Cooke​'s cost of the

goods returned was $ 200. Which journal entry or entries should Cooke ​prepare? (No sales discount was offered for early​ payment.)
Business
1 answer:
PIT_PIT [208]3 years ago
4 0

Answer:

The Journal entries are as follows:

(i) Sales revenue A/c  Dr. $900

          To Cash  $900

(To record the correction in sales revenue)

(ii) Merchandise Inventory A/c  Dr. $200

           To Cost of Goods sold  $200

(To record the merchandise returned)

Note:

(1) At the time of sale, the cash would have been debited with the amount of $900 and the sales revenue would have been credited with the amount of $900. Now, the cash of $900 should be credited as it was debited earlier.

(2) The inventory account also credited at the time sale, so it should be debited and the cost of goods sold debited at the time of original sale, so it need to be credited.

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Answer:

Db Allowance for Doubtful Accounts_1200

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Explanation:

When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:

A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)

A credit to Accounts Receivable (to remove the amount that will not be collected)

7 0
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how would you predict the survivorship curve of a developed country would compare to that of a developing country
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Answer:

The survivorship curve of a developed country would show a higher percentage of people surviving to each each group than in a developing country.

This is because in developing country life expectancy is lower than in developed countries.

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3 years ago
Only answer if you're willing to assist. I have a project for Entrepreneurship, in which I need to make a powerpoint for a new k
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3 0
2 years ago
Read 2 more answers
Order: 20,000 units heparin IV in 250 mL to infuse at 25 units/kg/hr. Client weighs 184 lb. How many units per hour will the cli
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Answer:

The client will receive 2086.5 units per hour.

Explanation:

This question can be solved by rules of three:

Order

20,000 units heparin IV in 250 mL to infuse at 25 units/kg/hr.

So the number of units per hour that the client will receive is 25 multiplied by his weight, in kilograms.

Client weighs 184 lb.

We have to make the conversion of lb to kg.

Each lb is 0.4536 kg.

So the client weight 184*0.4536 = 83.46kg.

How many units per hour will the client receive?

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The client will receive 2086.5 units per hour.

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Nimfa-mama [501]

Answer:

consumption, investment, government purchases, and net exports.

Explanation:

The Gross Domestic Products (GDP) is the measure of the total market value of all finished goods and services made within a country during a specific period.

Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country. The Gross Domestic Products (GDP) of a country's economy gives an insight to it's social well-being.

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