< 1 2 3 4 Sold $5,300 of merchandise on an assortment of bank credit cards. These cards charge a 4% fee. Note: Enter debits before credits. Transaction General Journal Debit Credit 2-a Prev 1 of 17 Score answer> O EH earch a
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- A customer pays on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays within the discount window, how much will they remit in cash to the retailer? A. $1,250 B. $1,200 C. $50 D. $500company A sells $1,500 of merchandise on account to company B with credit terms of 2/10, n/30. If company B remits a check taking advantage of the discount offered, what is the amount of Company B's check?? -$1,470 -$1,050 -$1,200 -$1,350On Dec 31, the company has $30.000 on hand; Cash($) account has a balance of 45.000 TL and exchange rate is 1,25 TL/$. Which entry is made on Dec 31? a.7.500 debit to 100-Cash($) and credit to 646-Forex Gain b.7.500 debit to 100-Cash($) and credit to 656-Forex Loss c.37.500 debit to 100-Cash($) and credit to 646-Forex Gain d.7.500 debit to 656-Forex Loss and credit to 100-Cash($)
- 42.The following data were available for ABC Company, which uses perpetual system, at Dec 31, 20X2:Accounts Payable, beg P15,000Accounts Payable, end P10,000Inventory, beg P17,000Inventory, end P9,000Cash payment to creditors(net of 2% discount) 294,000Purchase returns, P5,000How much were the credit purchases during the period? 285,000 294,000 300,000 315,000The Allowance for uncollectible accounts currently has a debit balance of $200. The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the balance of the Allowance for uncollectible accounts reported on the balance sheet? a. $3,075 b. $3,275 c. $2,875 d. $2,675Q1. Record the following transactions in a general journal for Voyageur Sports Ltd. Nov 7 Cash sales slips totalled $3295 plus $197.70 GST. Cash was deposited Issued Sales Invoice 87–B to A. Michaels, terms 3/15, n/30, amount $2000, not subject to PST, GST $120 Nov 8 Received bank credit memo for $215, interest earned by the company Nov 9 Received bank debit memo for $25, plus $1.50 GST, for the annual charge for a safety deposit box. Total $26.50 Nov 15 Received cheque from A. Michaels, $2056.40 for Invoice 87–B, less $63.60 discount. Cheque was deposited
- Transactions for 2024 1-Sales revenue on account, $113,600 (ignore Cost of Goods Sold). 2-Collections on account, $92,895 3-Write-offs of uncollectibles, $760. 4- The Company accepted a 90-day, 9%, $13,500 note receivable from a customer in exchange for 4 his account receivable. a Journalize the issuance of the note. b Journalize the collection of the principal and interest at maturity. (use 360 days) 5 Bad debts expense of $?? was recorded. (Refer to requirement 3)(about the write off) - while doing the transactions for 2024 assume the company uses the allowance method and show work and formulas4.The following data were available for ABC Company at Dec 31, 20X2:Accounts Receivable, beg P15,000Accounts Receivable, end P10,000Collection of accounts 450,000Sales returns, P8,000 (25% is related to cash sales)Sales discounts, P5,000How much were the credit sales during the period? 451,000 453,000 456,000 458,000Leno Company sells goods to the Fallon Company for $14,000. It offers credit terms of 3/10, n/30. If Fallon Company pays the invoice within the discount period, Leno Company will record a debit to Cash in the amount of: A. 13,580 B. 420 C. 14,420 D. 14,000 Thanks ethethe
- Lucky House Ltd Trial Balance As at 30 September 2020 Account Debit(£) Credit(£)Cash at Bank 5,850Capital Account 15,000Machine 8,100Raw Materials 2,655Stationery 250Accounts Payable 6,545Rent 950Business Insurance 38Prepayments 1,362Sales Income 17,550Cost of Goods Sold 11,345Accounts Receivable 4,500Drawings 4,000Telephone 45Depreciation 135Accumulated Depreciation 135 Total 39,230 39,230 Prepare a statement of cash flow ?Lucky House Ltd Trial Balance As at 30 September 2020 Account Debit(£) Credit(£)Cash at Bank 5,850Capital Account 15,000Machine 8,100Raw Materials 2,655Stationery 250Accounts Payable 6,545Rent 950Business Insurance 38Prepayments 1,362Sales Income 17,550Cost of Goods Sold 11,345Accounts Receivable 4,500Drawings 4,000Telephone 45Depreciation 135Accumulated Depreciation 135 Total 39,230 39,230 Prepare a Statement of Profit & Loss and Statement of…At December 1, 2022, Swifty Corporation Accounts Receivable balance was $12770. During December, Swifty had credit sales of $34200 and collected accounts receivable of $27360. At December 31, 2022, the Accounts Receivable balance is $19610 credit $19610 debit $12770 debit $46970 debit