Answer:
c. Debit to Cash and a credit to Merchandise Inventory
Explanation:
When a buyer returns goods these are return outwards,
The correct entries to record them would be to debit cash as goods have been returned and credit the merchandise purchased so,
Debit cash account with the amount of goods returned
Credit Merchandise inventory with the amount of goods returned.
Hope that helps.
The amount of the dividends paid is $7600.
A company distributes dividends from its net income and transfers the balance amount to retained earnings.
Dividends Paid = Net Income - Retained Earnings = 31800 - 24200 = $7600
Equity represents the fee that might be lower back to an agency's shareholders if all of the belongings were liquidated and all the employer's debts have been paid off. We also can think of fairness as a degree of residual ownership in a firm or asset after subtracting all money owed related to that asset.
The principal advantage of fairness financing is that there's no obligation to pay off the money obtained via it. equity financing locations have no extra economic burden on the company, however, the drawback can be quite big. The amount realized through the issue of new stock will not be used for dividend distribution. Only Net income is to be considered in the calculation.
Learn more about equity here:-brainly.com/question/1957305
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Answer:
$17,000
Explanation:
The amount of the Allowance for Bad Debts account after adjustment is shown below:
= Debit balance of Allowance for Bad Debts account + uncollectible accounts
= $7,000 + $10,000
= $17,000
The journal entry is also shown for better understanding
Bad debt expense A/c Dr $17,000
To Allowance for doubtful debts $17,000
(Being bad debt expense is recorded)
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