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 1716 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?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

“Ich bin ein Berliner” (I am a Berliner), Kennedy declared from a balcony in West Berlin in June ... “Ich bin ein Berliner” (I am a Berliner), Kennedy declared from a balcony in West Berlin in June ...
Frequently Used Computer Terms Frequently Used Computer Terms
Compute the rate of discount allowed on a rontor -tiller that lists for K 341 and is sold for K ... Compute the rate of discount allowed on a rontor -tiller that lists for K 341 and is sold for K ...
14 June 2023 14 June 2023
June 23 2023 June 23 2023
June 27 2023 June 27 2023
Video: Renin/Angiotensin (water gain from urine & Na ion and water reabsorption)

For a complete list of videos, visit our video library