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mash [69]
3 years ago
11

During 2019, ABC Company purchased $100,000 of merchandise. To bring the merchandise to the warehouse, Charcoal paid $5,000 in f

reight costs. By paying within the discount period, it was able to take advantage of $2,000 of discounts offered. When the merchandise arrived, inspection revealed that $3,000 of goods were not as ordered and were returned to the supplier. The net purchases of Charcoal Company were: ___________
a.$105,000.
b.$100,000.
c.$90,000.
d.$95,000.
Business
1 answer:
astra-53 [7]3 years ago
4 0
I believe the Answer is: B.) $100,000.
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Answer:

Journal Entry

Date          Description                         Debit          Credit  

                Depletion expenses           $85,260

              Accumulated Depletion                          $85,260

Explanation:

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intangible development cost       116,000

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salvage value                               <u> (185,600)</u>

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