« previous next »

Author Question: The balance sheet shows the revenues and expenses for the period. Indicate whether the statement ... (Read 80 times)

bobbie

  • Hero Member
  • *****
  • Posts: 592
on: Jul 5, 2018
The balance sheet shows the revenues and expenses for the period.
 
  Indicate whether the statement is true or false

Question 2

Merchandise with a sales price of 5,000 is sold on account with terms 2/10, n/30 . The journal entry to record the sale would include a
 a. debit to Cash for 5,000
  b. debit to Sales Discounts for 100
  c. credit to Sales for 4,900
  d. debit to Accounts Receivable for 4,880


medine

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 5, 2018
Answer to Question 1

FALSE

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

This illustration shows the decibel level in various locations and associated with different ... This illustration shows the decibel level in various locations and associated with different ...
Creating a tent for turning from prone to supine or vice versa. Pin one side of the sheet against ... Creating a tent for turning from prone to supine or vice versa. Pin one side of the sheet against ...
Nitrogen Balance and Imbalance Nitrogen Balance and Imbalance
Embryonic Period Embryonic Period
Embryonic Period Embryonic Period
Embryonic Period Embryonic Period
Video: Antidiuretic hormone (vasoconstriction, water reabsorption & sweat inhibition)

For a complete list of videos, visit our video library