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On November 10 of the current year, Flores Mills sold carpet to a customer for $8,800 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on November 10? Multiple Choice Accounts receivable 8, 624 Sales discounts 176 Sales 8,800 Accounts receivable 8, 800 Sales 8, 800

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If Abby INC sells items to a customer who uses a credit card for $1100 and there is a credit card fee of 1.5% Abby will record an : ______ Round your final answer to the nearest dollar A. DEBIT TO ACCOUNT RECIEABLE FOR $1083 B. Credit to sales revenue for $1083 C. debit to sales expense for $17 D. Debit to credit card discount expense for $17

The journal entry to record the receipt of a payment from customer within the discount period on a sale of $2325 with terms of 3/10, n/30 will include a credit to O a. Sales discounts for $70 O b. Accounts receivable for $2325 O c. Sales Revenue for $2325 O d. Cash for $2255

Purchases Transactions Nieman Company purchased merchandise on account from a supplier for $14,000, terms 1/10, n/30.  Nieman returned $3,400 of the merchandise and received full credit. a.  If Nieman Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar.$fill in the blank 1 b.  What account is debited by Nieman Company to record the return?

Orange Co. sold Red Co. merchandise on account FOB shipping point, 2/10, net 30, for 10,000. Orange Co. prepaid the 200 shipping charge. Using the perpetual inventory system, which of the following entries will Red Co. make if Red Co. pays within the discount period? a. Accounts Payable-Orange Co., debit 10,000; Transportation In, credit 200; Cash, credit 9,800 b. Accounts Payable-Orange Co., debit 10,200; Merchandise Inventory, credit 200; Cash, credit 10,000 c. Accounts Payable-Orange Co., debit 10,000; Transportation In, debit 200; Cash, credit 10,200 d. Accounts Payable-Orange Co., debit 10,200; Merchandise Inventory, debit 200; Cash, credit 10,400

Record the sale by Balus Company of $131,000 in accounts receivable on May 1. Balus is charged a 3.00% factoring fee. View transaction list Journal entry worksheet 1 Record the sale of receivable. Note: Enter debits before credits. Date May 01 Record entry General Journal Clear entry Debit Credit View general journal

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Record the sale by Balus Company of $136,000 in accounts receivable on May 1. Balus is charged a 3.00% factoring fee. View transaction list Journal entry worksheet 1 > Record the sale of receivable. Note: Enter debits before credits. Date General Journal Debit Credit May 01 Record entry Clear entry View general journal

JoJo's recorded credit sales of $10,000 on the gross method. Terms are 2/20, n/30. Select the correct statement about the entry to record this sale.   Question 3 options:   Accounts receivable increases $10,000.   Sales increase $9,800   Sales discounts increase $200   All of the above are correct

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en June 12, Music, Incorporated sells $4,000 of goods on account to a credit customer with credit terms of 1/10, n/30. If the custome ays on June 20, select the correct entry to record the receipt of the customer's payment: Multiple Choice Account Name Debit Credit Cash 4,000 Accounts Receivable 4,000 Account Name Debit Credit Cash 3,960 Sales Discounts 40 Accounts Receivable 4,000 Account Namė Debit Credit Accounts Receivable 3,960 Sales Discounts 40 Cash 4,000 ***. MAY 7

The entry to record the receipt of payment within the discount period on a sale of $1500 with terms of 1/10, n/30 will include a credit to Cash for $1485. Accounts Receivable for $1500. ● Sales Revenue for $1500. ● Sales Discounts for $15.

The entry to record the receipt of payment within the discount period on a sale of $2400 with terms of 2/10, n/30 will include a credit to Cash for $2352. Sales Revenue for $2400. Sales Discounts for $48. ○ Accounts Receivable for $2400.

The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit to O Accounts Receivable for $4000. O Sales Discounts for $80. O Cash for $3920. O Sales Revenue for $4000.

Help Save & Exit Submit TB MC Qu. 07-149 (Algo) MacKenzie Company sold... MacKenzie Company sold $460 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 6.0% fee for sales on its credit cards. The journal entry to record this sales transaction would be: Multiple Choice es Debit Cash of $460 and credit Sales $460. Debit Cash of $460 and credit Accounts Receivable-Regional $460. Debit Accounts Receivable-Regional $432.40; debit Credit Card Expense $27.60 and credit Sales $460. Debit Cash $432.40: debit Credit Card Expense $27,60 and credit Sales $460. MAR 15 étv MacBook Air 888 DII DD F2 F3 F4 F5 F6 F7 F8 F9 #3 2$ * & 3 4 6 7 8 W E R T

Oswego Clay Pipe Company sold $46,000 of pipe to Southeast Water District 45 on April 12 of the current year with terms 1/10,n/30. Oswego uses the gross method of accounting for sales discounts. What entry would Oswego make on April 18, assuming the customer made the correct payment on that date? Account Title Debit Credit Cash Sales 45,540 460 Accounts receivable 46,000 Account Title Debit Credit Cash 46,000 Accounts receivable Sales 45,540 460 Account Title Debit Credit Cash 45,540 Sales discounts 460 Accounts receivable 46,000 Account Title Debit Credit Cash 46,000 Sales discounts 460 Accounts receivable 46,000 Sales discounts forfeited 460

Purchases Transactions Xanadu Company purchased merchandise on account from Springhill Company for $7,900, terms 2/10, n/30. Xanadu returned merchandise with an invoice amount of $2,000 and received full credit. a.  If Xanadu Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar.$fill in the blank 1 b.  What account is debited by Xanadu Company to record the return?

A retailer purchases merchandise with a catalog list price of $28,100. The retailer receives a 16% trade discount and has credit terms of 2/10, n/30. How much cash will be needed to pay this invoice within the discount period? O a. $23,132 O b. $24,166 O c. $23,604 O d. $28,100

Oswego Clay Pipe Company sold $45,100 of pipe to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60, Oswego uses the gross method of accounting for sales discounts. What entry would Oswego make on April 23, assuming the customer made the correct payment on that date? Multiple Choice Cash 44, 649 Sales discounts 451 Accounts receivable 45, 100 Cash 44, 649 Sales 451 45, 100 Accounts receivable

Merchandise with a sales price of $1,100 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a Oa. credit to Sales for $1,078 Ob. debit to Accounts Receivable for $1,100 Oc, debit to Cash for $1,100 Od. debit to Customer Refunds Payable for $22