« previous next »

Author Question: The balance sheet shows the revenues and expenses for the period. Indicate whether the statement ... (Read 110 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?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Some of the fastest growing religions in America are non-Judeo-Christian religions. This photograph Some of the fastest growing religions in America are non-Judeo-Christian religions. This photograph
Synodic Period Synodic Period
The photo shows an ultrasound image of a fetus. The rough outline of a head and body can be seen. ... The photo shows an ultrasound image of a fetus. The rough outline of a head and body can be seen. ...
Embryonic Period Embryonic Period
Embryonic Period - 3rd week Embryonic Period - 3rd week
A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ... A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ...
Video: Introduction to Macular Degeneration

For a complete list of videos, visit our video library