


Can you please help me to solve those multiple questions. Thank you!!
| ans 1 | ||||
| correct answer is option | ||||
| B :
Accounts receivable 8,000 Sales 8,000 |
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| ans 2 | correct answer is option | |||
| 780000 | ||||
| =860000-50000-30000 | ||||
| ans 3 | correct answer is option | |||
| Net account receivable | ||||
Can you please help me to solve those multiple questions. Thank you!! On November 10 of...
clear writting only final answers no explaing
1. On November 10 of the current year, Flores Mills sold carpet to a customer for 58,000 with credit terms 2/10, 1/30. How would Flores record the sale on November 10? 7,840 7.840 8,000 8,000 A Accounts Receivable Sales Revenue B Accounts Receivable Sales Revenue C. Accounts Receivable Cash Discounts Sales Revenue D. Accounts Receivable Cash Discounts Sales Revenue 7,840 160 8,000 8,000 160 7,840
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on December 5, assuming the correct payment was received on that date? Cash 8,000 Accounts receivable 7,840 Sales discounts revenue 160 Cash 8,000 Accounts receivable 7,840 Interest revenue 160 Cash 8,160 Accounts receivable 8,000 Sales discounts forfeited 160 Cash 8,000 Accounts receivable...
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on November 10? Accounts receivable 7,840 Sales 7,840 Accounts receivable 8,000 Sales 8,000 Accounts receivable 7,840 Sales discounts 160 Sales 8,000 Accounts receivable 8,000 Sales discounts 160 Sales 7,840
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,700 with credit terms 3/10, n/30. Flores uses the gross method of accounting for cash discounts. What is the correct entry for Flores on November 10? Multiple Choice Accounts receivable 8,439 Sales 8,439 Accounts receivable 8,700 Cash discounts 261 Sales 8,439 Accounts receivable 8,439 Cash discounts 261 Sales 8,700 Accounts receivable 8,700 Sales 8,700
JIZ CUP 1 C E A company has the following information: o OO DO un Total revenues Sales returns and allowance Sales discounts Ending inventory $860,000 $ 50,000 $ 30,000 $100,000 8 01:24:39 What is the amount of net revenues for the company? Multiple Choice $330,000 $230,000 $680,000 $780,000
Drebin Security Systems sold merchandise to a customer in exchange for a $50,000, five-year, noninterest-bearing note when an equivalent loan would carry 10% interest. Drebin would record sales revenue on the date of sale equal to: Multiple Choice $50,000. The present value of $50,000 using a 10% interest rate. Zero. The future value of $50,000 using a 10% interest rate. Long-term interest-bearing notes receivable issued at an unrealistically low interest rate will be: Multiple Choice Accounted for on the installment...
Oswego Clay Pipe Company provides services of $48,900 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on April 12? Accounts Receivable Sales Revenue Accounts Receivable Sales Revenue Sales Discounts Accounts Receivable Sales Revenue Accounts Receivable Sales Discounts Sales Revenue 48,411 48,411 48,900 |48,411 489 48,900 48,900 48,900 489 49,389 Multiple Choice Option A Option B Option C O Option D During the year, Bears Inc. recorded credit sales...
Dreamworld had $ 400 000 in 14% bonds outstanding through both years Dreamworld's capitalized interest in 2018 was A. $44.240. B. $65.800. C. $76,860. D. $88,480. 5. Anthony The Anthony Thomas Candies (ATC) reported the following financial data for 2018 and 2017: Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 2018 $311,000 8.000 2017 $295.000 5303.000 5.500 $289,500 57,000...
Crimson Inc. recorded credit sales of $881,000, of which $590,000 is not yet due, $200,000 is past due for up to 180 days, and $91,000 is past due for more than 180 days. Under the aging of receivables method, Crimson Inc. expects it will not collect 5% of the amount not yet due, 18% of the amount past due for up to 180 days, and 22% of the amount past due for more than 180 days. The allowance account had...
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7. The Inventory account is used in each of the following except the entry to record A) goods purchased on account. B) the return of goods purchased. C) payment of freight on goods sold. D) payment within the discount period. 8. Mclntyre Company made a purchase of merchandise on credit from Marvin Company on August 8, for $8,000, terms 3/10, n/30. On August 17, McIntyre makes the appropriate payment to Marvin. The entry on August 17 for McIntyre...