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Kitty [74]
2 years ago
5

If merchandise costing $500 is sold on account for $620, how is this transaction recorded when using a perpetual inventory syste

m
Business
1 answer:
kipiarov [429]2 years ago
5 0

Answer:

Explanation:

Debit Accounts Receivable and credit Sales Revenue for $620;

DEBIT: Cost of Goods Sold CREDIT: Inventory for $500

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Two individuals who were previously sole proprietors form a partnership. Property other than cash that is part of the initial in
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Answer:

D) Property's fair value at the date of the investment.

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Thus, all the assets other than cash shall be recorded at their respective fair values in the new business which is a partnership, as the cost or historical value will not display their proportional contributions properly.

Therefore, correct statement is

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It takes a considerable amount of time to increase the production of pork. this implies that:
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This implies that the work would take longer as well, making the product cost more
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Which sentence indicates that Roger's company, Fine Jewelry, follows a subscription business model? Roger's company, Fine Jewelr
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3 years ago
Determine the type of credit that involves a set limit based on what a consumer pays up front.
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Installment credit is a type of credit that has a fixed number of payments, in contrast to revolving credit.

<span>Examples of which are:
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Land loan
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Aleksandr-060686 [28]

Answer:

Shill bidding

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