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Author Question: Proffitts, Inc. earned 5,500 in revenues of which 300 has not been collected. The journal entry to ... (Read 86 times)

sammy

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Proffitts, Inc. earned 5,500 in revenues of which 300 has not been collected. The journal entry to record this transaction includes ________.
 
  A) a debit to Cash of 5,200 and a credit to Revenues of 5,200
  B) debits to Cash of 5,200 and Accounts receivable of 300 and a credit to Revenues of 5,500
  C) a debit to Revenues of 5,200 and a credit to Cash of 5,200
  D) a debit to Revenues of 5,500 and credits to Cash of 5,200 and Accounts receivable of 300

Question 2

Merchandise is sold for 3,600, terms FOB destination, 2/10, n/30, with prepaid freight costs of 150 . The amount of the sales recorded is 3,528.
 a. True
  b. False
 
   Indicate whether the statement is true or false



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maya.nigrin17@yahoo.com

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Answer to Question 1

B

Answer to Question 2

True




sammy

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review


marict

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Reply 3 on: Yesterday
:D TYSM

 

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