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
zloy xaker [14]
3 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]3 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)

You might be interested in
what is referred to a process that involves developed action plan that leads to achieving specific goals​
lesya692 [45]

Answer:

The appropriate approach is "Developing strategic plan ".

Explanation:

  • Knowing what it does and reevaluating it to ensure that it is the leading northern star for certain activities seems to be the secret to creating a successful strategic planning strategy.
  • This strategy includes defining the intent, strategies, and procedures of an organization which would be used to achieve those objectives. As such, this strategy seems to be an important aspect of the operation of an organization, even though it is necessary to undertake the process of designing the schedule with serious thought and thoroughness.
3 0
3 years ago
Define bond economics.​
valentinak56 [21]
In finance, a bond is an instrument of indebtedness of the bond issuer to the holders. The most common types of bonds include municipal bonds and corporate bonds. Bonds can be in mutual funds or can be in private investing where a person would give a loan to a company or the government.
6 0
2 years ago
Your insurance agent is trying to sell you an annuity that costs $75,000 today. By buying this annuity, your agent promises that
mixer [17]

Answer:$120,000

Explanation: multiply $500 and 12 and get 6,000 then multiply 6,000

then multiply 6000 and 20 and get 120,000

6 0
3 years ago
5. Use excel?s irr function for this problem. Rancho cucamonga has a 6% cost of capital. The firm has an investment opportunity
BlackZzzverrR [31]

IRR function for this problem is 7. 7% and invest in the project

<h3>What is IRR function?</h3>

The Excel IRR function returns the internal rate of return (IRR) for a sequence of cash flows that occur at regular intervals. Determine the internal rate of return. Return was calculated as a percentage. =IRR (values, [guess])

IRR is the interest rate at which the sum of all cash flows equals zero, thus it is useful for comparing one investment to another. In the preceding example, if we substitute 8% with 13.92%, the NPV becomes 0, and your IRR becomes zero. As a result, IRR is defined as the discount rate at which a project's NPV becomes zero.

To know more about IRR function follow the link:

brainly.com/question/24301559

#SPJ4

8 0
1 year ago
Name 3 factors that can contribute to increased output of goods and services in a country
galina1969 [7]
I would think money,supply or demand? 
6 0
3 years ago
Other questions:
  • This is the person or persons who offers a good or service.
    6·1 answer
  • A machine that costs $20,000 today has annual operating costs of $1,500, $1,600, $1,700 and $1,800 in each of the next four year
    15·1 answer
  • The management of Madeira Computing is considering the introduction of a wearable electronic device with the functionality of a
    11·1 answer
  • Zink Co.’s defined benefit pension plan had plan assets with a fair value of $325,000 at December 31, year 8, and of $375,000 at
    14·1 answer
  • Your parents' income will be used to determine what your insurance will cost.​
    15·1 answer
  • Jumpin Corporation uses the percentminusofminussales method to estimate uncollectibles. Net credit sales for the current year am
    15·1 answer
  • A budget ▼ deficit surplus is the amount by which government spending exceeds revenues in a given year. A budget ▼ deficit surpl
    15·1 answer
  • Explain Jodi's self esteem throughout Tall Girl? Movie
    9·2 answers
  • Honeywell, Goodrich, and UTC Aerospace are among the suppliers to Embraer. If these companies want to look for other export oppo
    10·1 answer
  • Which of the following is a geographic factor
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!