Answer:
The correct journal entry for the sale of electronic component is option E
Explanation:
Notes Receivable A/c................Dr $7,800
Sales A/c..................................Cr $7,800
On sale of the electronic component, the company received notes receivable so any increase in asset is debited. Therefore, notes receivable is debited with the sale value or amount. And made a sale account so the sale account is credited.
More than 2/3 are considered highly engaging and productive
A transaction account, checking account, or demand deposit account is a deposit account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access by the account owner or to others as the account owner may direct.
Tldr : Deposit account - where you take money and store money type of account
Answer and Explanation:
The adjusting entry is as follows
Sales return & allowances ($550,000 × 2%) $11,000
Refunds payable $11,000
(Being the recording of estimated sales return is done)
For recording this we debited the sales returns & allowances as it increased the sales return and credited the refund payable as it also increased the liabilities
When I to marketing class at my school I was able to highlight the cell and move it. So i think it is True.
