ULU Hypermarket on March 1st, 2020, sells food product on account to Al Faiha Farm for RO 5,000. The sales term is 5% on 60 ays. On March 6th, Al Faiha Farm returned some of the food product worth 600 to LULU. Prepare the journal entry to record his transaction on the books of LULU Hypermarket on the 6st of March: Celect one: O a. Sales Return on Allowances 600 Account Receivable 600 O b. Sales Revenue 600 Account Receivable 600 C. Bad debt expenses 600 Allowances for doubtful 600 account O d. Account Receivable 600 Cash 600
ULU Hypermarket on March 1st, 2020, sells food product on account to Al Faiha Farm for RO 5,000. The sales term is 5% on 60 ays. On March 6th, Al Faiha Farm returned some of the food product worth 600 to LULU. Prepare the journal entry to record his transaction on the books of LULU Hypermarket on the 6st of March: Celect one: O a. Sales Return on Allowances 600 Account Receivable 600 O b. Sales Revenue 600 Account Receivable 600 C. Bad debt expenses 600 Allowances for doubtful 600 account O d. Account Receivable 600 Cash 600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![LULU Hypermarket on March 1st, 2020, sells food product on account to Al Faiha Farm for RO 5,000. The sales term is 5% on 60
days. On March 6th, Al Faiha Farm returned some of the food product worth 600 to LULU. Prepare the journal entry to record
this transaction on the books of LULU Hypermarket on the 6st of March:
Select one:
O a.
NSales Return on Allowances
600
Account Receivable
600
O b.
Sales Revenue
600
Account Receivable
600
O c.
Bad debt expenses
600
Allowances for doubtful
600
account
O d.
Account Receivable
600
600
Cash
اكتب هنا ل لبحث](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F39b9ad1f-fa8e-4fa1-a7ce-f01cf0fd34ae%2F96609074-dcb6-40a0-ac17-04416cfa2755%2Fbmt4q9r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:LULU Hypermarket on March 1st, 2020, sells food product on account to Al Faiha Farm for RO 5,000. The sales term is 5% on 60
days. On March 6th, Al Faiha Farm returned some of the food product worth 600 to LULU. Prepare the journal entry to record
this transaction on the books of LULU Hypermarket on the 6st of March:
Select one:
O a.
NSales Return on Allowances
600
Account Receivable
600
O b.
Sales Revenue
600
Account Receivable
600
O c.
Bad debt expenses
600
Allowances for doubtful
600
account
O d.
Account Receivable
600
600
Cash
اكتب هنا ل لبحث
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