1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bagirrra123 [75]
3 years ago
14

Heidi's Accessories bought 50 necklaces for $10 each on account. The invoice included a 6% sales tax and payment terms of 2/10,

n/30. Five necklaces were returned prior to payment. The entry to record the return would include a debit to
-accounts payable for $50.00 or $53.00
-purchases returns and allowances for $50.00 or $53.00
-
Mathematics
1 answer:
garri49 [273]3 years ago
7 0

Answer:

<u>The correct answer is B. Accounts payable for US$ 53.oo</u>

Step-by-step explanation:

1. Let's recall what is the Journal entry when a company return part of the inventory previously purchased:

Debit

The amount Heidi's accessories owed to the supplier would have been sitting as a credit on the accounts payable account because the invoice has not been payed. In the case of this return, we should debit it because we should diminish the amount due.

Credit

The goods Heidi's accessories are returning and therefore, the asset of inventory decreases. The credit to purchase returns reduces the value of the total purchases. That's why options C and D are incorrect.

2. Now, let's calculate the amount of the return that Heidi's accessories made, this way:

Return = Number of necklaces * Price of each necklace + Sales taxes

Replacing with the real values, we have:

Return = 5 * 10 + (5 * 10) * 0.06

Return = 50 + (50) * 0.06

Return = 50 + 3 = 53

<u>The correct answer is B. Accounts payable for US$ 53.oo</u>

You might be interested in
What number is the opposite of -69?<br><br> What number is the opposite of the opposite of -69?
grandymaker [24]

Answer:

69, -69

Step-by-step explanation:

If the number is positive, the opposite of it is the same number, but negative.

If the number is negative, the opposite of the number is the same number, but positive.

So, -69 would be 69.

69 is the opposite of -69, so the opposite of 69 would go back to -69.

8 0
3 years ago
Read 2 more answers
Given: 5n - 42 - 12n: Prove: n = -6<br> Statements : <br><br> Reasons :
OlgaM077 [116]
5*-6-42-12*12*-6=0
the answer is: 0
6 0
3 years ago
I need help plzz
sesenic [268]

Answer:

3200

Step-by-step explanation:

8 0
3 years ago
A^2+b^2=c^2<br> a^2+10^2=18^2
Papessa [141]

Answer:

\sqrt[-4]{14}

Step-by-step explanation:

7 0
3 years ago
If a=5, the value of 2a+5 is _____​
slavikrds [6]

Answer:

15

Step-by-step explanation:

2(5) +5

10 + 5 = 15

8 0
3 years ago
Read 2 more answers
Other questions:
  • Which equation represents the line shown in the graph below ? *20 points* I NEED IT ASAP !!!
    8·2 answers
  • 9a-ab+5b if a=2 and b=7
    5·2 answers
  • Marcus hired a car service to drive him to the airport. The bill came to $56.80. He gave the driver a 20% tip. How much money di
    14·2 answers
  • What is the equation of the blue line
    8·2 answers
  • What is the measure of the highlighted angle?
    10·1 answer
  • Hose bought 1.5 pounds of apples for $3.60 how much would 3/4 of a pound of apples cost
    7·1 answer
  • I NEED HELP ASAP ITS FOR TODAY PLZ SHOW YOUR WORK
    12·1 answer
  • The formula I = PRT where I = Interest, P = principal, R = rate, and T = time is used to calculate the amount of simple interest
    8·1 answer
  • What is equivalent to 45/75?
    11·2 answers
  • Dodi has 2 cups of liquid starch and will use the entire amount. She plans to store the slime in containers that each hold a max
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!