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3 years ago

Prepare the journal entries to record the following transactions on Sunland Company's books using a perpetual inventory system.

Business

1 answer:

Volgvan3 years ago

8 0

Answer:

a. March 2, 202x, merchandise purchased on account from Splish Brothers, credit terms 2/10, n/30

Dr Merchandise inventory 885,600

Cr Accounts payable 885,600

b. March 6, 202x, defective/wrong merchandise returned to Splish Brothers

Dr Accounts payable 110,200

Cr Merchandise inventory 110,200

c. March 12, 202x, paid invoice to Splish Brothers within discount term

Dr Accounts payable 775,400

Cr Cash 759,892

Cr Purchase discounts 15,508

purchase discount = purchase balance x 2% = $775,400 x 2% = $15,508

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Find out more on contingent liabilities at brainly.com/question/17371330.

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2 years ago

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3 years ago

How much milk does a holstein cow produce per year.

sashaice [31]

Answer:

About 2,900 gallons of milk per year according to the internet

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2 years ago

Record year-end adjusting entries (LO3-3) Below are transactions for Wolverine Company during 2021. On December 1, 2021, Wolveri

marysya [2.9K]

Answer: See explanation

Explanation:

1. Dr Deferred revenue 2,000

Cr. Rent revenue 2,000

2 Dr. Insurance expense 6,600

Cr. Prepaid insurance 6,600

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Cr Salaries payable 3,000

4 Dr Interest expense 250

Cr Interest payable 250

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N. B:

Rent revenue for December was calculated as:

= $4,000 x 1/2

= $2,000

Insurance expense for the current year was calculated as:

= $13,200 x 6/12

= $6,600

Interest expense:

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= $15000 × 0.1 × 2/12

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3 years ago

What is capital vocation

nalin [4]

Answer:

A vocation is an occupation to which a person is specially drawn or for which they are suited, trained, or qualified. And since it is capital vocation I guess you just tie that definition into your capital and how that would work for your capital. I hope this helps. It was kind of difficult to find the answer. :) I wish you the best of luck! If you need any more help just ask!

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4 years ago