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Snowcat [4.5K]
3 years ago
11

Emerald Co. uses a perpetual inventory system and records purchases of merchandise at net cost. The company recently purchased 2

00 compact discs for the price of $6,000 and terms of 2/10, n/30. Half of these discs had been mislabeled and were returned immediately to the supplier. Record the journal entry to record payment of this invoice after the discount period has expired. Use Journal Entry format.
Business
1 answer:
STALIN [3.7K]3 years ago
6 0

Answer:

Credit to cash for $3,000

Explanation:

Based on the information given the appropiate the journal entry to record payment of this invoice after the discount period has expired is: CREDIT TO CASH FOR $3,000 which is calculated as (1/2*$6,000).

Credit to cash for $3,000

(To record payment of invoice after the discount period has expired)

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Under the 7-to-1 rule, the maximum salary that would be paid to the highest-paid manager is $105,000.

Data and Calculations:

Lowest-paid employee's annual earnings =$15,000

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The maximum salary paid to the highest-paid manager = $105,000 ($15,000 x 7).

Thus, the maximum salary paid to the highest-paid manager under the company's 7-to-1 rule is $105,000.

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3 years ago
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Answer:

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8 0
3 years ago
I would like to set up a company that has operational flexibility and tax efficiencies, but I would also like reduce my personal
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A simple discount note results in
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6 0
3 years ago
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A single bond with a face value of $1,000 has a stated annual interest rate of 7.6%. The last bond traded on this day was 98.45%
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Answer:

$984.50

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3 years ago
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