Answer:
$2,600 in the Accounts Receivable Dr./Sales Cr. column and $1,700 in the Cost of Goods Sold Dr./Inventory Cr. column.
Explanation:
If we assume that Maxie's Game World uses a perpetual inventory system, the appropriate journal entries should be:
Date XXX, merchandise sold on credit to client YYY, terms 1/10, n/30
Dr Accounts receivable 2,600
Cr Sales revenue 2,600
Dr Cost of goods sold 1,700
Cr Merchandise inventory 1,700
<span>Trial balance, Ofcourse !</span>
Answer:
Kindly check attached picture
Explanation:
Kindly check attached picture for detailed statement using the direct method
Answer:
The correct answer is: Limited financial liability; Have corporate ownership structure ability; Owners have limited liability and right to votes
Explanation:
Limited liability company and limited liability partnership is a type of business structure where the business is a separate entity and the owners are not personally liable for companies debts. It combines the properties of a corporation and a partnership or sole proprietorship.
It has a corporate ownership structure. Its owners have limited liability.
