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) Credit ✓ Your answer is correct. Account Titles and Explanation (b) (c) Inventory Accounts Payable eTextbook and Media List of Accounts ✓ Your answer is correct. Accounts Payable On March 6, Swifty Corporation returned $83,200 of the marchandise 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) Account Titles and Explanation Inventory eTextbook and Medila List of Accounts - Your answer is partially correct Account Titles and Explanation Accounts Payable Debit Inventory Cash Debit $32,000 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 Ofor the amounts) Debit 83,200 $32,000 Credit 83,200 Credit 748,000 14,976 722824
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) Credit ✓ Your answer is correct. Account Titles and Explanation (b) (c) Inventory Accounts Payable eTextbook and Media List of Accounts ✓ Your answer is correct. Accounts Payable On March 6, Swifty Corporation returned $83,200 of the marchandise 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) Account Titles and Explanation Inventory eTextbook and Medila List of Accounts - Your answer is partially correct Account Titles and Explanation Accounts Payable Debit Inventory Cash Debit $32,000 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 Ofor the amounts) Debit 83,200 $32,000 Credit 83,200 Credit 748,000 14,976 722824
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)
Your answer is correct.
(c)
Inventory
Accounts Payable
e Textbook and Media
List of Accounts
✓ Your answer is correct.
Inventory
eTextbook and Media
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)
Account Titles and Explanation
Accounts Payable
List of Accounts
➡ Your answer is partially correct.
Account Titles and Explanation
Debit
Accounts Payable
Inventory
Debit
832.000
Debit
Credit
83,200
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)
832,000
Credit
83,200
Credit
748,000
14,976
733,824
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