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Tess3false Merchandise is sold for cash. The selling price of the merchandise is $2,000 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include a credit to Oa. Sales for $1,860 Ob. Cash for $2,000 O c. Sales Tax Payable for $140 Od. Sales for $2,140 Previous Submit Test f Email Instructor All work saved. 64°F ^ E I 99+

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eBook Show Me How Caloulator Print Item Gross Profit During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost of the merchandise sold is $1,014,300. what is the amount of the gross profit? Check My Work Email Instructor Save and Exit All work saved. ch %23

Marin Shed Solutions sells its largest shed for $1,100 plus HST of 13 %. On May 10, 2024, it sold 26 of these sheds. On May 17,2024, the company sold 85 of these sheds. All sales are cash sales. For each day's sales, calculate the HST. May 10, 2024 May 17, 2024 Question Part Score $ Date $ HST payable Prepare a journal entry to record the sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Account Titles Debit --/2 Credit

William Sporting Goods is offering the following in-store rewards program as follows. The program runs from January 1, 2025 through December 31, 2025. Rewards are provided on January 1, 2026. Category A. B. C. D. Purchase Volume Up to $50,000 $50,001-$100,000 $100,001 - $200,000 $200,001 and above Rebate 0 1% Rebate liability $ 2% 5% Sales revenue for 2025 were $8 million, of which 30% fell into Category A, 20% in Category B, 40% in Category C, and 10% in Category D. Rebates provided to customers were $100,000. William expects that rewards redeemed will be 95%. What amount should William report as a rebate liability at December 31, 2025?

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Saved Help The following transactions were selected from among those completed by Hailey Retailers in the current year: Nov. 20 Sold two items of merchandise to Customer B, who charged the $570 (total) sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. 25 Sold 14 items of merchandise to Customer C at an invoice price of $3,800 (total); terms 2/10, n/30. 28 Sold 12 identical items of merchandise to Customer D at an invoice price of $7,320 (total); terms 2/10, n/30. 30 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. Dec. 06 Customer D paid the account balance in full. 30 Customer C paid in full for the invoice of November 25. Required: 1. Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold. 2. Compute Net Sales. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute Net Sales. (Round your…

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07 Quiz Saved Help Save & Exit Submit TB MC Qu. O7-111 (Algo) Jasper makes... Jasper makes a $36,000, 90-day, 9% cash loan to Clayborn Company. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.) nts eBook Multiple Choice Ask Print eferences Debit Cash for $36,000; credit Notes Receivable $36,000. Debit Cash $36,810; credit Interest Revenue $810; credit Notes Receivable $36,000. Debit Cash $36,810; credit Notes Receivable for $36,810. Debit Notes Payable $36,000; Debit Interest Expense $3,240; credit Cash $39,240. raw ill TV MAR 15 tv MacBook Air 80 DD F1 F2 F3 F4 F5 F6 F7 F8 F9 @ %24 3 4 7 8. 9 Q W Y S D F G H J K

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[A] Instructions: Compute the VAT Payable (refer to the photo) for the third quarter. (Show solution)

Journalizing credit card sales Marathon Running Shoes reports the following: Journalize all entries required for Marathon Running Shoes.

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Please solve question 25   24) Metro Company sells lawn and garden products to wholesalers. The company’s fiscal year-end is December 31. During 2020, the following transactions related to receivables occurred:   2/28     Sold merchandise to Lennox, Inc., for $10,000 and accepted a 10%, 7-month note. 10% is an       appropriate rate for this type of note.   3/31     Sold merchandise to Maddox Co. and accepted a noninterest-bearing note with a discount rate of             10%. The $8,000 payment is due on March 31, 2019. 4/3       Sold merchandise to Carr Co. for $7,000 with terms 2/10, n/30. Metro uses the gross method to   account for cash discounts. 4/11      Collected the entire amount due from Carr Co. 6/30      Discounted the Lennox, Inc., note at the bank. The bank’s discount rate is 12%. The note was      discounted without recourse.   12/31   An adjusting entry is recorded for the Maddox note .Required: Prepare the necessary journal entries for Metro for each of the above…

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