Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. chapter 5-sales journal entries journalize the fol

Chapter 5-Sales Journal Entries Journalize the following merchandise transactions: 1. Sold merchandise on account, $82,000...

90.2K

Verified Solution

Question

Accounting

image
Chapter 5-Sales Journal Entries Journalize the following merchandise transactions: 1. Sold merchandise on account, $82,000 with terms 2/10, net 30. 2. The cost of the merchandise sold was $68,600. 3. Received payment from the customer within the discount period. Calculations: Journal entries: Account Debit Credit Record sale at discounted value Record cost of merchandise sold: Record payment received from customer: Page 1 of 10

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

to answer the following questions Figure 9 1 illustrates some of the steps reactions of...

Biology
1.2K views

QUESTION 31 DOK 2 1 ALIGNED STANDARD 1 points What or whom is Mildred referring...

Biology
1.2K views

Match the term with the correct definition Genotype Phenotype Homozygous genotype Heterozygous genotype Dominant phenotype...

Physics
1.2K views

A charge q is kept in front of a neutral metallic sphere as shown in...

Calculus
1.2K views

8 At the same time Tom and Alice measured the angle of elevation to the...

Algebra
1.2K views

Fifteen years after investing $20,000, a retired couple notices that their investment is worth $28,250...

Algebra
1.2K views

Dustin jogged to his friend s house 7 2 miles away and then got a...

Accounting
1.2K views

Amarillo Company experienced the following events during its first accounting period. (1) Purchased $6,600...

Accounting
1.2K views

I need help with question 1. this is a homework assignment. can you fill in...

Accounting
1.2K views

fleet of cars. Read the requirements. Requirement 1. For each of the following independent...

Accounting
1.2K views

A U.S. company owns an 80% interest in a company located on Mars. Martian currency...

Accounting
1.2K views

Purpose: Assignment 2 Specifications This assignment aims at ensuring that students have familiarised themselves with...