Pierce Company sold merchandise on account to Stanton Company, terms FOB shipping point, / 30, for $20,000. Pierce prepaid the $500 shipping charge. Which of the following entries does Pierce make to journalize this sale? Odebit Accounts Receivable Station Company for $20,000, credit Sales for $20,000 and debit Accounts Receivable-Stanton Company for $500, credit Cash for $500 Oh debit Accounts Receivable-Stanton Company for $20,000 crodit Sales for $20,000 and debit Delivery Expense for $500, credit Cash for $500 O debit Accounts Receivable Stanton Company for $20,500, credit Sales for $20,500 Od debit Accounts Receivable-Stanton Company for $20,000, credit Sales for $20,000

Pierce Company sold merchandise on account to Stanton Company, terms FOB shipping point, / 30, for $20,000. Pierce prepaid the $500 shipping charge. Which of the following entries does Pierce make to journalize this sale? Odebit Accounts Receivable Station Company for $20,000, credit Sales for $20,000 and debit Accounts Receivable-Stanton Company for $500, credit Cash for $500 Oh debit Accounts Receivable-Stanton Company for $20,000 crodit Sales for $20,000 and debit Delivery Expense for $500, credit Cash for $500 O debit Accounts Receivable Stanton Company for $20,500, credit Sales for $20,500 Od debit Accounts Receivable-Stanton Company for $20,000, credit Sales for $20,000

Name: Pierce Company sold merchandise on account to Stanton Company, terms
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Description: Pierce Company sold merchandise on account to Stanton Company, terms FOB shipping point, n/ 30, for $20,000. Pierce prepaid the $500 shipping charge. Which of thefollowing entries does Pierce make to journalize this sale?O debit Accounts Receivable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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