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 126 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?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

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.

This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern
Instruct the patient to use an applicator to apply a small amount of stool in the appropriate boxes ... Instruct the patient to use an applicator to apply a small amount of stool in the appropriate boxes ...
Preserve Your Vitamins! Cook your vegetables in a small amount of water Preserve Your Vitamins! Cook your vegetables in a small amount of water
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 ...
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
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 ...
Video: Contraction and Relaxation Animation

For a complete list of videos, visit our video library