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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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2 years ago
When a bank keeps $12 from a $100 deposit as legal reserves, it is using
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2 years ago
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13 years

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8 0
3 years ago
Erin has been analyzing the manufacturing process for a local company and is starting to see some changes because of her suggest
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7 0
3 years ago
Assume that an investor purchased a put option on BP with an exercise price of $1.900 for $0.0215 per unit. There are 31,250 uni
vladimir1956 [14]

Answer:

a. $203.125

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