Homework Clinic

Social Science Clinic => Accounting => Topic started by: sabina on Feb 18, 2020

Title: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15, ...
Post by: sabina on Feb 18, 2020

On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15, n/30. S&S paid the invoice on June 20. Assuming Maligator uses the net method to record sales, what would the journal entry to record payment include? (Round the final answer to the nearest dollar.)
◦ A credit to Accounts Receivable — S&S for $740
◦ A credit to Sales Revenue for $30
◦ A debit to Cash for $710
◦ A debit to Discount Lost for $30

Title: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15, ...
Post by: johnharpe on Feb 18, 2020

A credit to Sales Revenue for $30

Title: Re: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15
Post by: Jaice Monroe on Mar 21, 2020

thank you

Title: Re: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15
Post by: Courtney Holguin on Apr 1, 2020

Thank you

Title: Re: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15
Post by: Duwan Franklin on Apr 3, 2020

thank you

Title: Re: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15
Post by: Lucas Lacy on Sep 19, 2020

thank you

Title: Re: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15
Post by: Kayla Phalen on Sep 26, 2020

Thank you

Title: Re: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15
Post by: fbkjojo on Jul 9, 2021

thank you

Title: Re: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15
Post by: Michael Batchelor on Sep 24, 2022

Thank you