« previous next »

Author Question: The balance sheet shows the revenues and expenses for the period. Indicate whether the statement ... (Read 76 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?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Time Line of Human History From Upper Paleolithic Period to the Present Time Line of Human History From Upper Paleolithic Period to the Present
Acid–Base Balance Acid–Base Balance
Fetal Period Fetal Period
Embryonic Period - 3rd week Embryonic Period - 3rd week
Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ... Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ...
Video: Hormonal feedback loop components

For a complete list of videos, visit our video library