This topic contains a solution. Click here to go to the answer

Author Question: A document that is issued when credit is given for merchandise returned or for an allowance is ... (Read 152 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
A document that is issued when credit is given for merchandise returned or for an allowance is called a(n) ___________________ _.
 Fill in the blank(s) with correct word

Question 2

Acme, Inc. accepted a promissory note from NadirCo, who promised to pay Acme 5,000 plus 6 interest at the end of four months. When Acme first accepts the note, it should record a ________.
 
  A) note payable of 5,000
  B) note receivable of 5,000
  C) note payable of 5,100
  D) note receivable of 5,150



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mcomstock09

  • Sr. Member
  • ****
  • Posts: 377
Answer to Question 1

credit memo

Answer to Question 2

B





 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

For a complete list of videos, visit our video library