no work required Wilton sells softball equipment. On November 14, they shipped $4,000 worth of softball uniforms to Paola Middle School, terms 2/10, n/30. Ôn November 21, they received an order from Douglas High School for $2,400 worth ofcustom printed bats to be produced in December. On November 30, Paola Middle School returned $400 of defective merchandise. Wilton has received no payments from either school as of month end. What amount will berecognized as accounts receivable, net on the balance sheet as of November 30?А.$6,400$6,000С.$4,000D.$3,600B. Merchandise was sold on credit for $10,000, terms 2/10, n/30. Which of the following journal entry descriptions correctly describes the cash collection?O A. Cash is debited for $10,000, accounts receivable is credited for $10,000 if the collection is after the discount period.O B. Cash is debited for $10,000, accounts receivable is credited for $9,800 and sales discounts is credited for $200 if the collection is within the discount period.O C. Cash is debited for $10,000, accounts receivable is credited for $9,800, and sales discounts is credited for $200 if the collection is after the discount period.O D. Cash is debited for $10,000 and accounts receivable is credited for $10,000 if the collection is within the discount period.

Wilton sells softball equipment. Answer – Selling price of the product – Defective merchandise =…

Wilton sells softball equipment. On November 14, they shipped S4,000 worth of softball uniforms to Paola Middle School, terms 2/10, n/30. On November 21, they received an order from Douglas High School for S2,400 worth of custom printed bats to be produced in December. On November 30, Paola Middle School returned $400 of defective merchandise. Wilton has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30?

Wilton sells softball equipment. On November 14, they shipped S4,000 worth of softball uniforms to Paola Middle School, terms 2/10, n/30. On November 21, they received an order from Douglas High School for S2,400 worth of custom printed bats to be produced in December. On November 30, Paola Middle School returned $400 of defective merchandise. Wilton has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30?

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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