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natulia [17]
2 years ago
11

Wexim Toys sold merchandise to a customer on credit, terms 2/10, n/30 for $11,700. Three days later, the customer returned $2,30

0 of the merchandise. When recording the return transaction, Wexim Toys would record:__________
a) $2,300 in the Accounts Payable Cr. column and $2,300 in the Inventory Dr. column of the purchases journal. b) Debit Sales Returns and Allowances $2,300 and credit Accounts Receivable $2,300 in the general journal. c) $2,300 in the Cash Dr. column and $2,300 in the Inventory Cr. column in the cash receipts journal. d) Debit Cash $2,300 and credit Inventory $2,300 in the general journal. e) $2,300 in the Accounts Payable Dr. column and $2,300 in the Cash Cr. column of the cash payments journal.
Business
1 answer:
Rom4ik [11]2 years ago
7 0

Answer:

b) Debit Sales Returns and Allowances $2,300 and credit Accounts Receivable $2,300 in the general journal.

Explanation:

When goods were sold on account,  Accounts receivables is debited, and  Sales is credited.  When goods are returned,  Sales Return & Allowances is debited, and  Accounts receivables is credited.

Thus, the entry will include Debit in Sales Returns and Allowances $2,300 and Credit  in Accounts Receivable $2,300

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The following information relates to current production of bench seats for boats at Aquamarine Manufacturing:
bearhunter [10]

Answer:

The operating income would be affected with a los off $716,000 besides the $95,000 that the company losses operating with the regular order.

Explanation:

Ok with the information provided lets set up the equations (we are going to separate the equations by regular order and especial order):

Regular order:

CT = 775,000 + 132X  (Total cost)

TR= 200X (Total Revenue)

OI = 68X - 775,000 (Operating Income)

Especial order:

CT = 785,000 + 117X  (Total cost)

TR = 140X (Total Revenue)

OI = 23X - 785,000 (Operating Income)

Now lets see how the operating income is with the production and selling of 10,000 bench seats:

OI = 68(10,000) - 775,000 = -95,000

This company operates at a loss of $95,000, now lets see how would operating income be affected by the especial order of 3,000 bench seats:

OI = 23(3,000) - 785,000 = -716,000

Another loss, so the operating income would be affected with a los off $716,000 besides the $95,000 that the company losses operating with the regular order.

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3 years ago
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3 0
2 years ago
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Answer:

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