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

Author Question: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15, ... (Read 1747 times)

sabina

  • Hero Member
  • *****
  • Posts: 563
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
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 sabina on Feb 18, 2020

johnharpe

  • Sr. Member
  • ****
  • Posts: 338
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 59% of students answer this correctly


Jaice Monroe

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Mar 21, 2020
thank you


Courtney Holguin

  • Newbie
  • *
  • Posts: 3
Reply #3 on: Apr 1, 2020
Thank you


Duwan Franklin

  • Newbie
  • *
  • Posts: 1
Reply #4 on: Apr 3, 2020
thank you


Lucas Lacy

  • Newbie
  • *
  • Posts: 1
Reply #5 on: Sep 19, 2020
thank you


Kayla Phalen

  • Newbie
  • *
  • Posts: 2
Reply #6 on: Sep 26, 2020
Thank you


fbkjojo

  • Newbie
  • *
  • Posts: 1
Reply #7 on: Jul 9, 2021
thank you


Michael Batchelor

  • Newbie
  • *
  • Posts: 1
Reply #8 on: Sep 24, 2022
Thank you


« previous next »
 

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

The Land Ordinance of 1785 called for surveying and dividing the Western Territories into square mil The Land Ordinance of 1785 called for surveying and dividing the Western Territories into square mil
George Bellows, A Day in June. George Bellows, A Day in June.
How to evaluate algebraic terms containing fractional exponents without a calculator (Part 2) How to evaluate algebraic terms containing fractional exponents without a calculator (Part 2)
The chromosome locations for BRCA1 and BRCA2. Together, these genes account for the majority of case The chromosome locations for BRCA1 and BRCA2. Together, these genes account for the majority of case
June 13 2023 June 13 2023
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ... An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...
Video: Effect of the environment on coat color in the Himalayan rabbit Animation

For a complete list of videos, visit our video library