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
vaieri [72.5K]
3 years ago
9

On June 15, a food wholesaler sold 100 cases of canned soup to Happy Foods for $30 per case with terms of 2/10, n/30. On June 17

, Happy returned 20 cases of damaged inventory (and received full credit), along with a check for the amount due for the purchase.
Given this information, the journal entry by Happy Foods on June 17 will:
A. Debit Accounts Receivable for $3,000.
B. Credit Cash for $2,940.
C. Debit Cash for $2,352.
D. Credit Inventory for $648.
Business
1 answer:
Brilliant_brown [7]3 years ago
6 0

Answer:

Explanation:

The journal entries are shown below:

On June 17

Food wholesaler A/c Dr $600       (20 cases × $30)

    To Purchase return $600

(Being returned goods are recorded)

Food wholesaler A/c Dr $600  $2,352

   To Bank A/c                                               $2,352

(Being payment is made)

(Being cash received recorded)

The computation is shown below:

= (Credit purchase - returned goods ) - (Credit purchase - returned goods ) × percentage given

= (100 case × $30 - $600)  -  (100 case × $30 - $600) × 2%

= ($3,000 - $600) - ($3,000 - $600) × 2%

= $2,400 - $48

= $2,352

This is the answer but the same is not provided in the given options

You might be interested in
Job 148 requires $12,000 of direct materials, $6,700 of direct labor, 550 direct labor hours, and 270 machine hours. It also req
taurus [48]

Answer:

b. $26,740

Explanation:

The computation of the total amount of overhead allocated is shown below:

overhead allocated is

= (actual direct labor hour × overhead rate per direct labor hour) + (Actual machine hour × overhead rate per machine hour)  

= (550 × 28) + (270 × 42]

= $15,400  + $11,340

= $26,740

hence, the total amount of overhead allocated is $26,740

6 0
2 years ago
Mention three barriers to interpersonal communication and how to overcome them
yawa3891 [41]

Explanation:

  1. Empathy,
  2. linguistic and
  3. cultural barriers.

Barriers to interpersonal communication can result from specific situations and personal differences that contribute to making the communication process more difficult.

However, it is possible to identify and overcome them. In the case of barriers of empathy, they can occur when there is no intention of understanding a certain situation that an individual is sharing with another individual, which may imply resistance in the listener that makes communication difficult , to overcome it, there must be greater understanding on both sides, greater respect and ethics on both sides.

In linguistic and cultural barriers it is necessary that individuals are willing to respect different values ​​and cultures, acting with ethics and respect. When there is a need to communicate with people of different nationalities, as in a multicultural work environment for example, language barriers must be minimized with the learning of a common language, such as English for example.

6 0
2 years ago
The following data were selected from the records of Sykes Company for the year ended December 31, Current Year.
NISA [10]
F I hope I was able to help u
7 0
3 years ago
Suppose the cross-price elasticity of demand between goods X and Y is 4. How much would the price of good Y have to change in or
boyakko [2]

Answer:

Increase by 5%.

Explanation:

Given that,

cross-price elasticity of demand between goods X and Y = 4

Percentage increase in consumption of good X = 20 %

cross-price elasticity of demand = Percentage change in quantity demanded for good X ÷ Percentage change in price of good Y

4 = 20 ÷ Percentage change in price of good Y

Percentage change in price of good Y = 20 ÷ 4

                                                                = 5%

Therefore, the price of good Y must be increase by 5% in order to increase the consumption of good X by 20 percent.

3 0
3 years ago
Watson consulting, llc is a consultancy to consultants. They have bonds which have a face value of $1,000. The bonds carry a 3.5
Montano1993 [528]

Answer:

The current market price is $ 883.08  

Explanation:

The current market price can be ascertained using the pv excel function as follows:

=-pv(rate,nper,pmt,fv)

rate is the semiannual yield to maturity which is 5%/2

nper is the number of semiannual coupons in the bond i.e 10*2=20

pmt is the semiannual coupon=3.5%*1/2*$1000=$17.5

fv is the face value of the bond

=-pv(5%/2,20,17.5,1000)=$ 883.08  

3 0
3 years ago
Other questions:
  • Which of the following is a way for states or local governments to raise revenues immediately?
    13·2 answers
  • Which of the following is true about checks?
    7·1 answer
  • Old Town Industries has three divisions. Division X has been in existence the longest and has the most stable sales. Division Y
    11·1 answer
  • Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success
    7·1 answer
  • 4. Your car loan requires payments of $200 per month for the first year and payments of $400 per month during the second year. T
    9·1 answer
  • Planners & Builders, Inc., enters into a contract with O’Reilly to refurbish a garage on his property as an auto repair shop
    15·1 answer
  • Human capital is
    14·1 answer
  • Consider two bonds, a 3-year bond paying an annual coupon of 5.90% and a 10-year bond also with an annual coupon of 5.90%. Both
    15·1 answer
  • January 1, 2021, Woody Forrest Corporation granted executive stock options to purchase 30,000 of its common shares at $7 each. T
    9·1 answer
  • Preventive stress management has three parts: primary, secondary, and tertiary. What part would you be acting on if you gave one
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!