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Author Question: Souper Bowls sold 500 of merchandise to a customer for cash. The sales tax was 5. How much cash did ... (Read 92 times)

michelleunicorn

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on: Jul 5, 2018
Souper Bowls sold 500 of merchandise to a customer for cash. The sales tax was 5. How much cash did Souper Bowls receive?
 
  A) 525
  B) 371
  C) 329
  D) 210

Question 2

Under the periodic inventory system, the journal entry to record the purchase of merchandise inventory will include a debit to
 a. Merchandise Inventory
  b. Purchases
  c. Accounts Payable
  d. Cost of Merchandise Purchased


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joshbk44

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Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

b


michelleunicorn

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

elyse44

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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