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
zzz [600]
3 years ago
12

A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On

July 28, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 28 is:
Business
1 answer:
8_murik_8 [283]3 years ago
8 0

Answer:

Debit : Account Payable $1,600

Credit : Discount Received $32

Credit : Cash $1,568

Explanation:

The correct journal entry to record the payment on July 28 includes a Debit to Accounts Payable and Credit to Discount and Cash. Cash should be after returns and discount received.

You might be interested in
Yvonne knows her firm must look at everything it does from a consumer's point of view. One major difficulty is that consumers' _
hram777 [196]

Answer:

Needs, wants, and ability to purchas

Explanation:

There is no reason to focus on consumer needs thousands of years ago. But we can say that technological advances and communication are wreaking havoc in this regard. Trends and fashions mark each day more than we want to obtain, consume and buy. And that has multiplied by a thousand in the last hundred years

3 0
3 years ago
Mr. and Mrs. Garcia have a total of $100,000 to be invested in stocks, bonds, and a money market account. The stocks have a rate
Alexeev081 [22]

Answer:

Explanation:

Let y amount be invested in bonds

Let x amount be invested in money account

Let x amount be invested in stocks

x = y + 3x

10,000 = 12/100(y+3x) + 8/100*y + 4/100*x

10,000 = 12(y+3x) + 8y + 4x / 100

10,000 * 100 = 12y+36x + 8y + 4x

2500 * 100 = 3y + 9x + 2y + x

250,000 = 5y + 10x

50,000 = y + 2x.......................(1)

x + y + z = $100,000

y + 3x + y + x = $100,000

2y + 4x = 100,000

y + 2x = 50,000.......................(ii)

y = 50,000 - 2x

x = 50,000 + x

z = z

<u>2 Options are</u>

{(x,y,x), (x2,y2,z2)}

= (50000, 50000) (60000, 30000, 10000)

7 0
3 years ago
On September 1 the Petite-Sizes Store paid $12,000 to the Mega-Mall Co. for 3-month rent beginning September 1. Prepaid Rent was
blsea [12.9K]
B) Rent Expense $4,000
Rent $4,000
6 0
3 years ago
For Bonita Sports Corporation, year-end plan assets were $4,250,000. At the beginning of the year, plan assets were $3,974,000.
OverLord2011 [107]

Answer:

Explanation:

Year-end plan assets were $4,250,000

At the beginning of the year, plan assets were $3,974,000

So Actual Return on Plan Assets = (4,250,000 - 3,974,000) - (420,000 - 365,000)

Actual Return on Plan Assets = 276,000 - (55,000)

Actual Return on Plan Assets = 221,000

6 0
3 years ago
What is Bh2 x4hg plz help
BabaBlast [244]

Answer:

its a combustion

Explanation:

6 0
3 years ago
Read 2 more answers
Other questions:
  • Match the academic requirements with the careers.
    7·2 answers
  • Wytes Pharmaceuticals wants to shift its list of inventory to a cloud so that its different branches can access it easily. The c
    9·1 answer
  • Suppose chips and salsa are complements. An increase in the price of salsa will cause: A. An upward movement along the demand cu
    12·1 answer
  • What are Pros and cons of perfect competition?
    5·2 answers
  • On January 1, Butte Company's Valuation Allowance for Trading Investments account has a debit balance of $23,200. On December 31
    15·1 answer
  • Buerhle Company needs to determine if its indefinite-life intangibles other than goodwill have been impaired and should be reduc
    6·1 answer
  • The Federal Reserve comes to the conclusion that more money must be pumped into the economy in an effort to stimulate economic g
    7·2 answers
  • Ralph works in the HR department and is in charge of developing the plans for how people are paid and how the employee benefits
    5·1 answer
  • John's Auto Repair just obtained an interest-only loan of $35,000 with annual payments for 10 years and an interest rate of 8 pe
    14·1 answer
  • How does insurance fraud create higher overall prices for everyone?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!