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
kompoz [17]
3 years ago
12

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

terms 3/15, n/60. Sandhill uses the gross method to record cash discounts. Sandhill estimates allowances of $1,300 will be honored on these sales. 10 Sandhill 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 Sandhill for its purchase of July 17.
Business
1 answer:
AlexFokin [52]3 years ago
3 0

Answer and Explanation:

The journal entries are shown below:

On July 1

Accounts receivable Dr $20,000  

            To Sales revenue  $20,000

(To record the sales on account)

On July 10

Cash $19,400    

Sales discount $600 ($20,000 × 3%)  

        To Accounts receivable  $20,000

(To record the payment received)

On July 17

Accounts receivable $200,000  

             To Sales revenue  200,000

(To record the sales on account)

On July 30

Cash $200,000  

       To Accounts receivable  $200,000

(To record the payment received)

You might be interested in
Although skyscrapers are mostly composed of steel and glass, carpenters are often employed to help with construction. How might
NeX [460]
To create the roof trusses 
8 0
3 years ago
The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current projec
storchak [24]

Answer: template method

Explanation:

The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as template method.

It should be noted that estimating time and cost are vital because it helps schedule work, develop needs of cash flow and show progress of a project.

5 0
3 years ago
What are three reasons to study economics?
klemol [59]
Knowledge , pride and wisdom
3 0
3 years ago
What is the purpose of checks and balances in the constitution?
Mumz [18]
The system of checks and balances is an important part of the Constitution. With checks and balances, each of the three branches of government can limit the powers of the others. This way, no one branch becomes too powerful.
7 0
3 years ago
Read 2 more answers
In a shoe manufacturing plant, all shoes undergo the same operations in the same sequence. the shoes flow from one workstation t
andre [41]
The answer is product layout. In manufacturing engineering, this talk about to a manufacture system where the work locations and apparatus are situated beside the line of production, as with assemblage lines. Generally, work units are stirred along a line (not essentially a geometric line, but a set of consistent work stations) by a conveyor.
6 0
3 years ago
Other questions:
  • Explain 3 different types of levels of management
    14·1 answer
  • The Ascent, a mountain bicycle manufacturer, has been in the bicycle industry for a year now. The CEO wishes to better the compa
    9·1 answer
  • The type of credit card you want to pay in full on time every time is...
    12·2 answers
  • On July 1, 1992, Denver Corp. purchased 3,000 shares of Eagle Co.'s 10,000 outstanding shares of common stock for $20 per share.
    12·1 answer
  • First National Bank charges 13.5 percent compounded monthly on its business loans. First United Bank charges 13.8 percent compou
    5·1 answer
  • What is interest rate and business decision?​
    5·2 answers
  • actor Co. can produce a unit of product for the following costs: Direct material $ 8.60 Direct labor 24.60 Overhead 43.00 Total
    10·1 answer
  • To achieve organizational goals in large, complex organizations, which components must function together
    14·1 answer
  • On Monday, May 15, 2017, you bought (traded) the XZX, Inc. 8.25% corporate bonds with a trading value of $96.50 price. The coupo
    5·1 answer
  • If unemployed workers decide to stop looking for a job and instead enroll in further education, how will the number of employed
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!