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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:

True

Explanation:

Local inventory ads show people that are using Google the information about a nearby store and the products that are available there which helps to increase the sales in the stores.

According to this, the answer is that the statement that says that Local Inventory Ads allow retailers to promote their in-store inventory and drive  shoppers to their brick-and-mortar stores is true because these ads show people the inventory available in a nearby store which helps to get more customers to go there.

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Taobao has been placed on the U.S. trade representative offices blacklist of “notorious marketplaces” due to the websites sale o
Gemiola [76]

Answer:

The answer is: letter a, To protect national security.

Explanation:

This incident occurred in <em>2016.</em> Taobao is one of the online shopping websites owned by "Alibaba Group." It was placed on the blacklist by the U.S. because of selling<em> "counterfeit goods."</em> However, it was removed from the blacklist in 2012, since it showed efforts in combating piracy.

One reason for putting Taobao in the blacklist is to protect national security. This is the responsibility of the government to the nation when it feels threatened by anything harmful. The pirated goods were considered a threat to the nation. It can also result to financial loss to the owners due to stolen intellectual properties.

Thus, this explains the answer.

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3 years ago
How to report sale of inherited property on tax return?
IrinaVladis [17]

Your share of the sales proceeds from the sale of a home you had inherited should be reported on Schedule D in the Investment Income section of TaxAct. You would enter "Inherited" as the date the property was acquired, then enter the cost basis, date of sale, and the sales proceeds.

3 0
2 years ago
Why wont a bussiness charge 500 for a table that they can make for 100
lys-0071 [83]

Answer:

I am not a business student but I think this is common sense.

Yes most business people do that because they have to make sales, they pay taxes, buy raw materials, time wastage, fatigue, health related issues ,care for their family and would not want to go broke so I think that's most of it.

Hope I helped

3 0
3 years ago
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