This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Scout Company purchases goods for resale from Shakes, Inc. The amount of the purchase is $10,500 ... (Read 123 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
on: Feb 18, 2020
Scout Company purchases goods for resale from Shakes, Inc. The amount of the purchase is $10,500 with terms of 3/10, n/30. Scout later returns $500 of the goods. Under the perpetual inventory system, the journal entry to record the return is:
◦ debit Purchase Returns and Allowances; credit Accounts Payable - Shakes, Inc.
◦ debit Inventory; credit Accounts Payable - Shakes, Inc.
◦ debit Accounts Payable - Shakes, Inc.; credit Inventory.
◦ debit Accounts Payable - Shakes, Inc.; credit Purchase Returns and Allowances.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by kaid0807 on Feb 18, 2020

janieazgirl

  • Sr. Member
  • ****
  • Posts: 300
Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


lisasenin

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Nov 13, 2022
thank you


« previous next »
 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Find the final amount if the initial amount is 400 units. Find the final amount if the initial amount is 400 units.
The relationship of substrate con- version (as measured by optical density) to the amount of patient ... The relationship of substrate con- version (as measured by optical density) to the amount of patient ...
An organizational specialist is hired as a consultant to a company planning to open a coffee ... An organizational specialist is hired as a consultant to a company planning to open a coffee ...
An organizational specialist is hired as a consultant to a company planning to open a coffee ... An organizational specialist is hired as a consultant to a company planning to open a coffee ...
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
What amount was invested 35 years ago at 7% compounded semiannually if the value of the ... What amount was invested 35 years ago at 7% compounded semiannually if the value of the ...
Video: Bipolar Disorder

For a complete list of videos, visit our video library