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seraphim [82]
3 years ago
9

Journalize the following transactions for Rogers Company using the gross method of accounting for purchase discounts. Assume a p

erpetual inventory system. June 10 Purchased goods from Henderson Company on account, $6,000, terms 4/10, n/30. June 16 Returned merchandise to Henderson Company that was previously purchased on account, $600. June 20 Paid the amount due to Henderson Company.
Business
1 answer:
Brums [2.3K]3 years ago
6 0

Answer:

June 10

Inventory debit 6,000

Account Payable credit6,000

June 16

Account Payable debit 600

Inventory credit 600

June 20

Account Payable debit 5,400

Cash credit 5,400

Explanation:

June 10:

Inventory is an asset account, increase from debit.

The merchandise are not being paid, so the Rogers has an "account to pay"

June 16

The amount due decrease. It also decreases the value of our inventory.

Both account decrease by the amount returned.

June 20

The account is settle. Rogers may full payment of the account, which is invoince nominal less return 6,000 - 6,00 = 5,400

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When accounting for the general fund, the encumbrances control account is credited when:_____.
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When accounting for the general fund, the encumbrances control account is credited when: purchase order is filled or canceled.

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Target customers are the wealthy class of the society, the target customers are mostly in search for a good brand name when they want to buy something, Apple Iphone is mostly competing with Samsung where both make additions to the phones for new features according to the customers needs. I think Apple is not having a customer focusing culture because the most recent launch of the phone only comes with a phone and the charger for the phone is to be purchased separately, they present this change as environmental friendly but the customers need to buy a charger when they buy a phone which can be frustrating. Apple can include the charger with the phone and combine the price for both as the customers are not looking for lower prices in fact they are looking for a good brand.

Explanation:

Apple Iphone.

Target customers are the wealthy class of the society, the target customers are mostly in search for a good brand name when they want to buy something, Apple Iphone is mostly competing with Samsung where both make additions to the phones for new features according to the customers needs. I think Apple is not having a customer focusing culture because the most recent launch of the phone only comes with a phone and the charger for the phone is to be purchased separately, they present this change as environmental friendly but the customers need to buy a charger when they buy a phone which can be frustrating. Apple can include the charger with the phone and combine the price for both as the customers are not looking for lower prices in fact they are looking for a good brand.

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