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zloy xaker [14]
2 years ago
15

On May 1, Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders us

es the perpetual inventory system and the gross method. The journal entry or entries that Anders will make on May 1 is:a. Sales 5,800 Accounts receivable 5,800 b. Merchandise Inventory 5,800 Accounts payable 5,800 c. Accounts payable 5,800 Sales 5,800 d. Merchandise Inventory 5,800 Cash 5,800
Business
1 answer:
Lera25 [3.4K]2 years ago
4 0

Answer:

Option (b) is correct.

Explanation:

Given that

Amount of merchandise purchased = $5,800

Credit terms = 2/10 and n/10

Using a perpetual system and gross method,

Therefore, the Journal entry is as follows:

On May 1,

Merchandise inventory A/c Dr. $5,800

            To accounts payable                 $5,800

(To record the purchase of merchandise on account at May 1)

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Answer:

The answer is:

This statement is false. Fluorescent light bulbs (FLB) and incandescent light bulbs (ILB) are substitute goods, so a decrease in the price of one of them (FLB) should increase the quantity demanded for that product (FLB) and decrease the quantity demanded of the other (ILB).

A decrease in the price of any product (including ILB) would never decrease its quantity demanded.

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3 years ago
On January 1, a company agrees to pay $20,000 in three years. If the annual interest rate is 10%, determine how much cash the co
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Answer:

Amount borrow P = $15,026.296

Explanation:

Given:

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2 years ago
A persons driving record will affect the automobile insurance premium. True or false
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True

hope this helps (:
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3 years ago
In a fractional reserve banking system: Group of answer choices banks create money by printing it. banks create money by making
r-ruslan [8.4K]

Answer:

the size of M1 can only be a fraction of checkable deposits.

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Gina changes the amount of milk she purchases depending on whether it costs $1,$1.50, or $1.75 a pound. What other information d
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