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vredina [299]
2 years ago
9

A credit granted to a customer for returned goods requires a debit to a. Accounts Receivable and a credit to a contra-revenue ac

count. b. Cash and a credit to Sales Returns and Allowances. c. Sales Revenue and a credit to Cash. d. Sales Returns and Allowances and a credit to Accounts Receivable.\
Business
1 answer:
12345 [234]2 years ago
5 0

Answer:

d. Sales Returns and Allowances and a credit to Accounts Receivable.

Explanation:

The entry to record credit granted to customer entails :

Decrease the Assets of Accounts Receivable (credit entry) and Decrease the Sales Revenue (debit entry).

The Recognition of Sales Return and Allowance decreases Sales Revenue.

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1. A coupon bond pays the owner of the bond A) the same amount every month until the maturity date. B) a fixed interest payment
a_sh-v [17]

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

A coupon bond contract, also abbreviated to as a holder stock, is a debt with a stamp that also has tiny attachable vouchers. The vouchers grant the buyer the opportunity to make interest charges from the lender.

In a coupon bond, an investor gets the face value of the bond on maturity with a fixed interest payment.

4 0
3 years ago
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A clear expression of a firm's Blank______ will detail why an organization exists, what problems it wishes to solve, and who it
grandymaker [24]

A clear expression of a firm's Organizational purpose will detail why an organization exists, what problems it wishes to solve, and who it wants to be to every person it touches through its work.

<h3>What is a firms organizational purpose?</h3>

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It helps to highlight the problems in the society that it wishes to solve and all of its goals.

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4 0
1 year ago
Calculating and Interpreting EPS Information Wells Fargo reports the following information in its 2015 Form 10-K. In millions 20
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The answer is 20 because 30 is 20 but in a different hdhwgegdhdhbshehdhdb way
6 0
3 years ago
During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. The financial statement effect of
iren2701 [21]

Answer:

A. Increase liabilities (Accounts payable) by $337.8 million

Explanation:

The journal​ entry will be: Inventory (Credit - Increased) 337,860,000 and Accounts payable (Debit - Increased) 337,860,000.

The company must recognize the increase in the Inventory and the medium of payment (Accounts payable).

B is false because this operationn can also be a decrease in cash, but the amount in the operation is too high for this payment medium.

C is false because, the inventory is not sold, and COSG will be increased when the goods are sold.

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6 0
3 years ago
Freight-in and purchase returns and allowance are not deducted from purchases to determine the net delivered cost of purchases.
AysviL [449]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

The statement "<span>Freight-in and purchase returns and allowance are not deducted from purchases to determine the net delivered cost of purchases. " is true </span>
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3 years ago
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