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
Svetlanka [38]
2 years ago
14

E7.5 (LO 2) (Recording Sales Gross and Net) On June 3, Arnold Company sold to Chester Company merchandise having a sale price of

$3,000 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $90, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Instructions a. Prepare journal entries on the Arnold Company books to record all the events noted above under each of the following bases. 1. Sales and receivables are entered at gross selling price. 2. Sales and receivables are entered at net of cash discounts. b. Prepare the journal entry under basis 2, assuming that Chester Company did not remit payment until July 29.
Business
1 answer:
Marina CMI [18]2 years ago
3 0
I need a gf I am 13 and love fishing and dirt biking
You might be interested in
Green Valley Exporters USA has $100,000 of before tax foreign income. The host country has a corporate income tax rate of 25% an
Vinil7 [7]

Answer:

Amount paid in host country will be = Income * Tax rate in host country = $100,000*25% = $25,000

Amount paid in US will be Income * Tax rate in US - Tax paid in host country (Since the tax rate in host country is lower than USA) = $100,000*35% - $25,000 = $35,000 - $25,000 = $10,000

7 0
3 years ago
Give an example of an output contract associated<br> with school.
Damm [24]

Answer:

one party agrees to purchase the entire production that the other party supplies.

3 0
2 years ago
Harlose Suits faced a lot of complaints from customers when its recent batch of goods was dispatched. The employees at Harlose S
Mekhanik [1.2K]

Answer:

External failure costs.

Explanation:

These are explained to be the faults or defects a customer finds out or see after receiving his good and leaves the factory or finds out when goods or services has been delivered to him/her.

This can be either internal or external. When seen to be an internal aspect of the failure, costs result from identification of defects before they are shipped to customers. Some of these could include rejected products, reworking of defective units, scrap and also downtime caused by quality problem. It is said that a firms appraisal activities creates chances greater than the chance of catching defects internally and the greater the level of internal failure costs. This is the price that is paid to avoid incurring external failure costs, which can be devastating.

4 0
3 years ago
ACTION STEPS (What will be done) Step 1 Plann Step 2 4 Step 3 rll 의 Step 4 Step 5 Pa complete (5)​
pochemuha
I’m not sure………………………. ….
8 0
3 years ago
The buyers purchased a residence for $195,000. They made a down payment of $25,000 and agreed to assume the seller's existing mo
Phoenix [80]

Answer:

Option (d) purchase-money mortgage

Explanation:

Option (d) purchase-money mortgage

A purchase-money mortgage is a sort of mortgage issued to the customer or buyer of the property, in which the owner or the seller of the property himself lends the load to the buyer to buy the property.

This type of condition arises usually when the buyer is not able to get the loan from the traditional channels like the bank due to various reasons.

6 0
3 years ago
Other questions:
  • A dam is being built that will cost $500,000. The dam will cost $20,000 per year to operate and will require a maintenance expen
    12·1 answer
  • EA13.
    8·1 answer
  • Which of the following is not a qualitative factor to be considered in a make-or-buy decision?
    15·1 answer
  • In China during the 1950s, a group of collective farms, each of which contained more than 30,000 people who lived and worked tog
    9·1 answer
  • If a corporation has only one class of stock, the account is entitled Common Stock or a.Owners' Stock. b.Preferred Stock. c.Capi
    14·1 answer
  • Karen is a senior manager at the american bank. a good part of her workday is spent in meetings with clients, subordinates at th
    7·1 answer
  • If your 2 brothers are fighting how do u get them to stop
    11·2 answers
  • Rose Martinez walked into her office and found a large, extravagant bouquet on her desk. Before she had time to read the card, h
    7·1 answer
  • In practice, a common way to value a share of stock when a company pays dividends is to value the dividends over the next five y
    15·1 answer
  • What is the difference between a search engine and a web browser
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!