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viva [34]
2 years ago
5

how can you journalise this a supplier account had been debited with a $200 sales invoice (which had been correctly recorded in

the sales account).​
Business
1 answer:
Mkey [24]2 years ago
6 0

Answer:

Debit : Supplier $200

Credit : Purchases Returns and Allowances $200

Explanation:

We normally debit the Supplier account when we want to reduce our entity`s liability.

We reduce the entity liability when :

  1. The suppliers have been paid amount due to them
  2. The entity has returned goods to suppliers

The above journal depicts a return of goods to suppliers from the entry view of the Customer.

The Supplier has to reduce their Sales Account with the same amount of $200, the value of the goods returned.

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Answer:

d.No effect on the expenses of the current period.

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In the case when the credit balance of the allowance for doubtful debt more than the bad debt amount i.e. written off

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As the bad debt expense is debited and the allowance for doubtful debt would be credited therefore the option d is correct

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3 years ago
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The tip of a match is ignited as it is struck against the matchbox. Why is this a chemical change? (2 points)
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8 0
3 years ago
Clarence lives in Maine, which has a sales tax of 5%. He just bought a digital camera whose full price was $725, but after sendi
Doss [256]

Answer:

=$600

Explanation:

Full price refers to the highest amount payable, or the total amount to be paid. Clarence must have paid the full paid which was $725.

A rebate is promotions discount given by the manufacturer. It is enjoyed by way of claiming after purchase.  By filling the rebate forms , Clarence was claiming the discount entitled to her. She got a check of $125.

Her final expenditure on the camera  was $725- $125= $600

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4 0
3 years ago
The replacement cost of an inventory item is below the net realizable value and above the net realizable value less the normal p
Andrews [41]

Answer:

D. Replacement cost.

Explanation:

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Given that

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