INTER. ACCOUNTING - CONNECT+ALEKS ACCESS
10th Edition
ISBN: 9781264770335
Author: SPICELAND
Publisher: MCG
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Winfrey Enterprises purchases $6,200 of supplies, recordingthem as assets. At year end, a physical count shows $2,000 of supplies on hand. The year-end adjusting entry debits supplies expense and credits supplies onhand for $2,000. The correcting entry will _.
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What is the its equity multiplier?
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- What is the number of days sales in account receivable?arrow_forwardAccounting MCQ 27arrow_forwardGentry Co. reported total gross sales of $320,000, with 60% of these being credit sales. Sales returns and allowances of $18,000 apply only to the credit sales. A 1.5% sales discount was taken on all net credit sales. Additionally, credit card sales amounted to $110,000 and were subject to a 2.5% credit card fee. What is the dollar amount of net sales?arrow_forward
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