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
inessss [21]
3 years ago
11

Presented below is information from Perez Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company with ter

ms 3/15, n/60. Perez uses the gross method to record cash discounts. 10 Perez received payment from Robertson for the full amount owed from the July transactions. 17 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Perez for its purchase of July 17
Business
1 answer:
Greeley [361]3 years ago
8 0

Explanation:

The Journal Entry is shown below:-

1. Accounts Receivable Dr,            $20,000

           To cash revenue                                $20,000

(Being computer sold is recorded)

2. Cash Dr,                                         $19,400

    Sales discount Dr,                         $600

             To accounts receivable                    $20,000

(Being cash is received)

3. Accounts receivable Dr,               $200,000

              To sales revenue                               $200,000

(Being sales revenue is recorded)

4. Cash Dr,                                          $200,000

               To accounts receivable                     $200,000

(Being cash is recorded)

You might be interested in
Previous
densk [106]
OB is false. Hope that answers your question
6 0
3 years ago
Tru or false? the older traditional form of management structure is the horizontal organization
Tamiku [17]
The answer is false.
7 0
3 years ago
Cash receipts should be deposited on the day of receipt or the following business day. What is the most appropriate audit proced
BartSMP [9]

Answer:

The correct answer to the following question is option C) compare the daily cash receipts totals with the bank deposits.

Explanation:

When cash receipts are received by a company, it is often deposited in bank on the bank the same day they are received or they should be deposited the following business day. If a auditor or a manger or owner wants to make sure that the cash is promptly deposited everyday, then one way in which he or she can make sure that this is happening promptly is by comparing the daily cash deposits with the bank deposits or bank statements, through this procedures a person comparing them would come to know of any discrepancy in cash deposit, if it exist.

4 0
3 years ago
Why are companies required to perform payroll withholding?
Dmitriy789 [7]
I believe it is to make sure employees can pay their taxes.
Hope it helps!
8 0
3 years ago
Read 2 more answers
ClearPrint Company sells inkjet printers for a low basic price. Customers need to buy inkjet cartridges repeatedly. What type of
PilotLPTM [1.2K]

Answer:

C; captive

Explanation:

The correct answer here is the captive product pricing. This system enables companies to sell other product known as the captive product alongside the main product which is called the core product.

By selling the printer at a reduced price, the company can make a gain on this by ensuring that the auxiliary product which is the catridge is something that needs to be bought repeatedly.

Thus, the company has enhanced the sales of the ink catridge by ensuring that it’s an important part needed for the main product which is the printer to function.

So in this question, we can see that the catridge is the peripheral or auxiliary product otherwise called the captive product while the core product is the printer which is sold basically at a cheaper price

8 0
3 years ago
Other questions:
  • Craft, Inc. normally produces between 120,000 and 150,000 units each year. Producing more than 150,000 units alters the company'
    8·1 answer
  • If you were using a simple exponential smoothing forecast model (alpha value equal to 0.30) that generated a forecast of 25.10 u
    6·1 answer
  • Laura and Bryce both want to be able to forward receipts to QuickBooks Online to take advantage of the Receipt Capture feature.
    7·1 answer
  • Brand auditing
    5·1 answer
  • Pierre Corporation has a precredit U.S. tax of $315,000 on $1,500,000 of taxable income in the current year. Pierre has $300,000
    12·1 answer
  • Real per capita GDP in Taiwan in 1961 was about $500, but it doubled to about $1000.00 by 1981. a. What was the average annual e
    13·1 answer
  • An organization estimated that in a particular year the population of a country spent ​$10.4 trillion in personal consumption. T
    10·1 answer
  • Mr. Jagger is purchasing a $3,000,000 home by borrowing 80% of the purchase price. His loan terms are: 15 years amortization, mo
    14·1 answer
  • Less export more import is called
    10·1 answer
  • The economic indicator that reflects activity of u. s. entities without regard to where the activity takes place is?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!