This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15, ... (Read 1732 times)

sabina

  • Hero Member
  • *****
  • Posts: 563
on: Feb 18, 2020
On June 1 Maligator Outfitters sold merchandise for $740 on account to S&S, Inc. with terms 4/15, n/30. S&S paid the invoice on June 20. Assuming Maligator uses the net method to record sales, what would the journal entry to record payment include? (Round the final answer to the nearest dollar.)
◦ A credit to Accounts Receivable — S&S for $740
◦ A credit to Sales Revenue for $30
◦ A debit to Cash for $710
◦ A debit to Discount Lost for $30
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by sabina on Feb 18, 2020

johnharpe

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 59% of students answer this correctly


Jaice Monroe

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Mar 21, 2020
thank you


Courtney Holguin

  • Newbie
  • *
  • Posts: 3
Reply #3 on: Apr 1, 2020
Thank you


Duwan Franklin

  • Newbie
  • *
  • Posts: 1
Reply #4 on: Apr 3, 2020
thank you


Lucas Lacy

  • Newbie
  • *
  • Posts: 1
Reply #5 on: Sep 19, 2020
thank you


Kayla Phalen

  • Newbie
  • *
  • Posts: 2
Reply #6 on: Sep 26, 2020
Thank you


fbkjojo

  • Newbie
  • *
  • Posts: 1
Reply #7 on: Jul 9, 2021
thank you


Michael Batchelor

  • Newbie
  • *
  • Posts: 1
Reply #8 on: Sep 24, 2022
Thank you


« previous next »
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

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?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Body directional terms. Body directional terms.
How to solve a linear system when the terms are fractions How to solve a linear system when the terms are fractions
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
14 June 2023 14 June 2023
14 June 2023 14 June 2023
Video: Electrical changes in the heart

For a complete list of videos, visit our video library