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sashaice [31]
3 years ago
11

Morgan Company uses the perpetual inventory system and the gross method of recording sales discounts. Morgan Company sold $60,00

0 of merchandise to Jameson Inc. on May 10, 20Y8, with credit terms of 2/10, n/30. The cost of the merchandise sold was 45,000. Assume Jameson pays within the discount period on May 19. When recording the journal entry to record the payment received, what amount is credited to Accounts Rece
Business
1 answer:
o-na [289]3 years ago
6 0

Answer:

$60,000

Explanation:

Given that

Sale value of the merchandise = $60,000

Credit terms =  2/10, n/30

The cost of the merchandise sold = $45,000

So by considering the above information

The amount which is credited to account receivable is $60,000 as under the gross method the sale is recorded at the actual value of the inventory sold without considering the discount adjustment

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That afternoon, you meet with the owners privately to discuss the data you received. Which of the factors analyzed do you think
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Answer:

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4 0
3 years ago
A rain barrel is a container that captures and stores rainwater for landscape and garden use during dry periods. Rain barrels pr
Mnenie [13.5K]

Answer:

C

Explanation:

A rain barrel is a container that captures and stores rainwater for landscape and garden use during dry periods. Rain barrels provide an external benefit to the community through water conservation. If the government offers a per unit subsidy on rain barrels equal to the per-unit externality, then the after-subsidy equilibrium quantity of rain barrels will be more than the socially optimal quantity of rain barrels.

3 0
3 years ago
Net credit sales = $400,000 Net income = $100,000 Average total assets = $80,000 Average accounts receivable = $20,000 What is t
Romashka [77]

Answer:

73 days

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I hope my answer helps you

5 0
3 years ago
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