On March 2, Riverbed Company sold $832,000 of merchandise on account to Swifty Corporation, terms 2/10, r/30. The cost of the merchandise sold was $603,000. (Credit account titles are automatically indented when 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) Account Titles and Explanation (b) Inventory Accounts Payable (c) eTextbook and Media List of Accounts ✓ Your answer is correct. Account Titles and Explanation Accounts Payable On March 6, Swifty Corporation returned $83,200 of the merchandise purchased on March 2. The cost of the returned merchandise was $60,300. (Credit account titles are automatically indented when 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) Credit Inventory eTextbook and Media List of Accounts Debit Account Titles and Explanation Debit 832,000 Debit Credit 83,200 832.000 On March 12, Riverbed Company received the balance due from Swifty Corporation. (Credit account titles are automatically indented when 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) Credit 83,200 Acti Go to
On March 2, Riverbed Company sold $832,000 of merchandise on account to Swifty Corporation, terms 2/10, r/30. The cost of the merchandise sold was $603,000. (Credit account titles are automatically indented when 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) Account Titles and Explanation (b) Inventory Accounts Payable (c) eTextbook and Media List of Accounts ✓ Your answer is correct. Account Titles and Explanation Accounts Payable On March 6, Swifty Corporation returned $83,200 of the merchandise purchased on March 2. The cost of the returned merchandise was $60,300. (Credit account titles are automatically indented when 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) Credit Inventory eTextbook and Media List of Accounts Debit Account Titles and Explanation Debit 832,000 Debit Credit 83,200 832.000 On March 12, Riverbed Company received the balance due from Swifty Corporation. (Credit account titles are automatically indented when 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) Credit 83,200 Acti Go to
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On March 2, Riverbed Company sold $832,000 of merchandise on account to Swifty Corporation, terms 2/10, n/30. The cost of the merchandise sold was $603,000. (Credit account titles are automatically indented when 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.)
Account Titles and Explanation
(b)
Inventory
Accounts Payable
(c)
eTextbook and Media
List of Accounts
✓ Your answer is correct.
Account Titles and Explanation
Accounts Payable
On March 6, Swifty Corporation returned $83,200 of the merchandise purchased on March 2. The cost of the returned merchandise was $60,300. (Credit account titles are automatically indented when 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.)
Inventory
eTextbook and Media
List of Accounts
Debit
Account Titles and Explanation
Debit
832,000
Debit
Credit
83,200
Credit
832,000
On March 12, Riverbed Company received the balance due from Swifty Corporation. (Credit account titles are automatically indented when 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.)
Credit
83,200
Acti
Go to
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