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
GuDViN [60]
3 years ago
14

Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general jo

urnal. The following transactions occur in the month of May.May. 2 Sold merchandise costing $400 to B. Facer for $600 cash, invoice no. 5703.5 Purchased $2,450 of merchandise on credit from Marchant Corp.7 Sold merchandise costing $1,080 to J. Dryer for $1,566, terms 2/10, n/30, invoice no. 5704.8 Borrowed $8,000 cash by signing a note payable to the bank.12 Sold merchandise costing $270 to R. Lamb for $432, terms n/30, invoice no. 5705.16 Received $1,535 cash from J. Dryer to pay for the purchase of May 7.19 Sold used store equipment for $900 cash to Golf, Inc.25 Sold merchandise costing $450 to T. Taylor for $707, terms n/30, invoice no. 5706.Journalize the May transactions that should be recorded in the sales journal assuming the perpetual inventory system is used.
Business
1 answer:
Julli [10]3 years ago
5 0

Answer and Explanation:

The preparation of sales journal is shown below:-

Date Account     Invoice      Account                  Cost of

               Debited    Number       Receivable Dr.    Good Sold Dr.

                                                     Sales Cr.                 Inventory Cr.

May-07 J. Dryer    5704         1,566                            1,080

May-12 R. Lamb     5705          432                               270

May-25 T. Taylor    5706          707                                450

Therefore, only credit sales of merchandise inventory is included while rest of the transactions is not relevant in sales Journal.

You might be interested in
The ""invisible hand"" works to promote general well-being in the economy primarily through:.
MAVERICK [17]

The "invisible hand" works to promote general well-being in the economy primarily through people's pursuit of self-interest. therefore, Option A is the correct statement.

<h3>How does the Invisible Hand work?</h3>

The invisible hand is a part of laissez-faire, which means the "let do/permit go," method in the marketplace. In different words, the method holds that the marketplace will discover equilibrium without authorities or different interventions forcing it into unnatural patterns.

The complete information about the question is given below:

a. people's pursuit of self-interest.

b. the political process.

c. government intervention.

d. altruism.

therefore, The "invisible hand" works to promote general well-being in the economy primarily through people's pursuit of self-interest. Option A is the correct statement.

Learn more about "invisible hand":

brainly.com/question/1056081

#SPJ1

3 0
2 years ago
Following are the transactions of a new company called Pose-for-Pics.
liraira [26]

Answer:

                               Pose-for-Pics

                               Trial Balance

                For the month ended August 31

                                                    DEBIT      CREDIT

b. Cash                                       8,539

c. Offices                               2,280

d. Prepaid insurance               2,300

e. Photography equipment      51,600

f. Common stock                                      63,600

g. Photography fees earned                2,000

<u>h. Utilities expense                  881                   </u>

i. Totals                                     65,600    65,600

Explanation:

In trial balance, all accounts in general either real or nominal is posted here whether on debit or credit side. It shows the balances of debits and credits entries from the transaction of the general journal that the company have made for the period. There are 2 types of trial balance, the unadjusted trial balance and the adjusted trial balance.

8 0
4 years ago
Delia files a suit against Eduardo in a Florida state court over the ownership of a boat docked in a Florida harbor. Both Delia
Sauron [17]

Answer: c. Is a more convenient location to hold the trail

Explanation:

Eduardo appeals changing the loaction for the trail to Georgia from Florida because he finds it more convenient with the case holding in Georgia than Florida, this could be due to the fact that he might have factors in Georgia that would favour him if the trial is been done there.

4 0
3 years ago
Which is a retirement plan offered by employers?
Ket [755]
An employer can offer a partial match on a Roth 401<span>(k), however the employer contribution must be placed into a regular 401(k). The employee contribution limit is the same as it is for a 401(k) plan — which is much more generous than for a </span>Roth IRA<span>.</span>
3 0
4 years ago
Phil agrees to work for vacation resorts, inc., as a chef. in determining whether a contract has been formed, an element of prim
makvit [3.9K]
The parties' intent.
An agreement is a legitimately authoritative understanding. Once an offer has been acknowledged, there is an understanding, yet not really an agreement. The component that changes over any agreement into a genuine contract is "expectation to make lawful relations". The courts look for confirm that the gatherings to the understanding expected that it ought to be administered by, and subject to, the law of agreement; with the goal that the agreement offers ascend to lawful outcomes. Each gathering consequently receives a legitimate commitment, and each may look for a cure in case of rupture.
3 0
4 years ago
Other questions:
  • "which business function is displayed with the transaction code va03"
    15·2 answers
  • Sony is considering a 10 percent price reduction on its HD TV sets. If the price-elasticity coefficient for the sets in this pri
    11·1 answer
  • Which computer applications can Mr. Crowell use to make the classroom learning more stimulating and interesting
    8·1 answer
  • Which of the following accounts increases with a​ credit? A. ​Owner, Capital B. Prepaid Expense C. Accounts Receivable D. ​Owner
    5·1 answer
  • Recently, it was observed that people have started saving more rather than spending. This has impacted the demand for luxury goo
    11·2 answers
  • Under the terms of his salary agreement, president Steve Walters has an option of receiving either an immediate bonus of $77,000
    13·2 answers
  • You purchase one IBM July 120 put contract for a premium of $5 (per share). You hold the option until the expiration date when I
    7·1 answer
  • Which of the following statements is true of standardized promotions?
    9·1 answer
  • The Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly.
    14·1 answer
  • In the past, tupperware used only personal selling to sell its products; it now uses other methods as well to reach its target m
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!