« previous next »

Author Question: The balance sheet shows the revenues and expenses for the period. Indicate whether the statement ... (Read 32 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?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Stratigraphic section of the Fayum shows the relative age of early anthropoid fossils. Stratigraphic section of the Fayum shows the relative age of early anthropoid fossils.
Example of a day sheet report. Example of a day sheet report.
Draping for a woman’s chest. A. Place a towel over the sheet on the upper chest. B. Hold the towel ... Draping for a woman’s chest. A. Place a towel over the sheet on the upper chest. B. Hold the towel ...
Embryonic Period Embryonic Period
Embryonic Period Embryonic Period
Embryonic Period - End of the 4th week Embryonic Period - End of the 4th week
Video: Bipolar Disorder

For a complete list of videos, visit our video library