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 2714 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?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
June 13 2023 June 13 2023
June 19 2023 June 19 2023
June 27 2023 June 27 2023
Video: Mechanism of enzyme action

For a complete list of videos, visit our video library