1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Cost of debt For which capital component must you make a tax adjustment when calculating the weighted average cost of capital (W
professor190 [17]

Answer:

your dog

Explanation:

because its your dog

5 0
3 years ago
Your local bakery gives you information on consumer purchasing habits for muffins and cupcakes. It tells you that, when the pric
raketka [301]

Answer:

c. 0.25

Explanation:

Cross-price elasticity = [(Q2-Q1/)((Q1-Q2)/2) * 100] / [(P2-P1/)((P1-P2)/2) * 100]

Cross-price elasticity = [(65-55)/((65+55)/2)*100] / [(2-1)/((1+2)/2)*100]

Cross-price elasticity = 16.6667/66.6667

Cross-price elasticity = 0.25000037

Cross-price elasticity = 0.25

8 0
2 years ago
Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid
grandymaker [24]

Answer:

$0.215

Explanation:

The computation of the cost per item in Group 1 is shown below:-

Candy amount paid = $3,100

Item received = 7,100

For Group 1

Sale value = Group 1 units × Selling price

= 2,110 × $0.15

= $316.5

For Group 2

Sale value = Group 2 units × Selling price

= 4,720 × $0.35

= $1,652

For Group 3

Sale value = Group 3 units × Selling price

= 270 × $0.71

= $191.7

= Total sale value = $316.5 + $1,652 + $191.7

= $2,160.2

So, Sale percentage for Group 1 = $316.5 ÷ $2,160.2

= 14.65%

Now, the proportion of cost for Group 1

= $3,100 × 14.65%

= 454.15

Cost per unit = Proportion cost ÷ Group 1 units

= $454.15 ÷ 2,110

= $0.215

4 0
3 years ago
How do organizations calculate various costs, and what do these calculations mean to business?
QveST [7]

Answer:

See the explanation section

Explanation:

Organizations calculate various costs with the help of the weighted average cost of capital. It is a significant cost measurement system through which organizations can calculate the cost of debt after tax, cost of new equities, cost of existing equities, and cost of preferred shares. WACC can be a benchmark for the organization. A firm needs to know those costs because it can make sure that whether those projects are running smoothly to continue or running worse to reject.

Another significant cost measurement method is the net present value. With the help of NPV, a business can make sure about a project to accept it or reject it.

8 0
2 years ago
______ is the process of evaluating a firm's credit policy to determine whether a shift in its customers' payment patterns has o
NISA [10]
Receivables monitoring
5 0
2 years ago
Other questions:
  • When Nike purchases it's raw materials it wants to ensure they meet a specific quality management standard worldwide. This will
    13·1 answer
  • Innovation is best rewarded with ____ incentives
    8·1 answer
  • Bad Debts account has a credit balance of $8,000 before the adjusting entry for bad debts expense. After analyzing the accounts
    7·1 answer
  • Which of the following is a nominal variable? - Education - Age - Employment status - One needs to know the attributes to determ
    5·1 answer
  • Remember, a bond’s coupon rate partially determines the interest-based return that a bondwill pay, and a bondholder’s required r
    5·1 answer
  • he table gives the demand and supply schedules for boat rides. If the demand of boat rides increases by 40 rides a​ day, the pri
    10·1 answer
  • Social interaction is ________.a. the way in which a society is organized into predictable relationships. b. the process of lear
    8·1 answer
  • Suppose when you are 21 years old, you deposit $1,000 into a bank account that pays annual compound interest, and you do not wit
    7·2 answers
  • A foreign branch bank operates like a local bank, but legally Group of answer choices a branch bank is subject to only the banki
    9·1 answer
  • What identifies the flow of critical business data
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!