Question 22 Listen On January 15 JMiller Enterprises sold $490,000 of merchandise to KCranford Company on account, terms 2/10, n/30. The cost of the merchandise sold was $100,000. When making the journal entry to record this transaction, how much should KCranford Company credit Accounts Payable for? Your Answer: Answer

Question 22 Listen On January 15 JMiller Enterprises sold $490,000 of merchandise to KCranford Company on account, terms 2/10, n/30. The cost of the merchandise sold was $100,000. When making the journal entry to record this transaction, how much should KCranford Company credit Accounts Payable for? Your Answer: Answer

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 34E

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Question 8 of 20 Widgets, Inc. makes a $300 on account sale to Custom Motors. How is the sale recorded in the Accounts Receivable subsidiary ledger? O A. as a $300 debit O B. It is recorded upon payment. O C. as a $300 payment D. as a $300 credit SUBMIT
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