Option 2, When a buyer returns merchandise purchased for cash, the buyer will record the transaction as a debit to Cash and a credit to Merchandise Inventory.
When goods are returned, the accounts receivable or cash account is credited to repay cash or lower what the buyer owes, and the sales returns and allowances account is debited to reduce sales. The accounts involved in the transaction are the purchases account and the cash account if goods are paid for in cash. It debits the purchases account and credits the cash account. The cash account and buyer sales account are the accounts involved in a transaction when goods are sold for cash. It debits the cash account and credits the sales account.
learn more about Merchandise Inventory here:
brainly.com/question/27046371
#SPJ4
There are options available for Lyman :
Either he
- Sell his equity to his investors, ( which mean that he have to give away a percentage of his company)
- Or he can get some Loans
I he should consider Loans, because his annual revenues already way higher than the amount of loans that he need, he could easily paid it off
Answer:
at the end
Explanation:
Adjusting entries are made at the end of an accounting period after a trial balance is prepared to adjust the revenues and expenses for the period in which they occurred.
In the context of time-based competition, "build a better mousetrap and the world will beat a path to your door." could be interpreted as "those who make better innovations would obtain the most opportunities to obtain profit in the market"
Innovations only offers advantages in the competition because it offer different options for consumers that exclusively belong to US. But innovation is NOT THE ONLY factors for the product's success. There are other factors that can influence the success such as marketing strategies, condition of the economy
