On September 12, Vander Company sold merchandise in the amount of $5,900 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,100. Vander uses the periodic inventory sys the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is (are): Multiple Choice Sales 5,900 Accounts receivable 5,900 Sales 5,900 Accounts receivable 5,900 Cost of goods sold Merchandise Inventory 4,100 4,100 Accounts receivable 5,90e Sales 5,900 Accounts receivable 5,900 Sales 5,900 Cost of goods sold 4,10e

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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On September 12, Vander Company sold merchandise in the amount of $5,900 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,100. Vander uses the periodic inventory system and
the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is (are):
Multiple Choice
Sales
5,900
Accounts receivable
5,900
Sales
5,900
Accounts receivable
5,900
Cost of goods sold
4,100
Merchandise Inventory
4,100
Accounts receivable
5,900
Sales
5,900
Accounts receivable
5,900
Sales
5,900
Cost of goods sold
4,100
Merchandise Inventory
4,100
Accounts receivable
4,100
Sales
4,100
Transcribed Image Text:On September 12, Vander Company sold merchandise in the amount of $5,900 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,100. Vander uses the periodic inventory system and the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is (are): Multiple Choice Sales 5,900 Accounts receivable 5,900 Sales 5,900 Accounts receivable 5,900 Cost of goods sold 4,100 Merchandise Inventory 4,100 Accounts receivable 5,900 Sales 5,900 Accounts receivable 5,900 Sales 5,900 Cost of goods sold 4,100 Merchandise Inventory 4,100 Accounts receivable 4,100 Sales 4,100
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