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 124 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?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Behavior modification has been useful in raising the amount of social responding by children with ... Behavior modification has been useful in raising the amount of social responding by children with ...
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 ...
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
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 ...
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Mendel's Principles of Dominance, Segregation and Independent Assortment

For a complete list of videos, visit our video library