Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on june 1, target sold 100 hp laptops to ucf for $

On June 1, Target sold 100 HP laptops to UCF for $500 each with terms...

90.2K

Verified Solution

Question

Accounting

image

On June 1, Target sold 100 HP laptops to UCF for $500 each with terms of 3/15,n30. On June 11, UCF paid their invoice and took the discount. What journal entry (debit and credit) should Target record on June 11? (Select all answers that apply) Credit Sales Discounts $1,500 Debit Cash $48,500 Debit Accounts Receivable $48,500 Credit Accounts Receivable $50,000 Debit Cash $50.000 Debit Sales Discounts $1,500 Credit Accounts Receivable $48,500 Credit Sales Revenue $48,500 Debit Accounts Receivable $50.000 Credit Sales Revenue $50.000

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

Finance
1.2K views

Long-Term Financing Needed At year-end 2016, Wallace Landscaping’s total assets were $1.9 million, and its accounts payable...

Medical Sciences
1.2K views

1. Which of the following represents the CORRECT order of events in a motor neuron when...

Biology
1.2K views

A group of researchers studies fish populations in two adjacent small mountain lakes Seasonal flooding...

Physics
1.2K views

3 It can t be resolved at any tin 4 In begining it is seen...

Physics
1.2K views

A body of mass 5 kg at rest on smooth surface is acted upon simultaneously...

Geometry
1.2K views

A bicycle is traveling at 14 miles per hour. How many feet will it cover...

Calculus
1.2K views

Step 2 du We let u 7x and have determined that 7 Applying these gives...

Accounting
1.2K views

Tim has worked for one employer his entire career. While he was working, he participated...

Accounting
1.2K views

can you please explain me how to calculate the 102 ( direct labor and direct...

Accounting
1.2K views

This week, you have continued to study the accounting practices for governmental not-for-profit institutions. Now,...

Accounting
1.2K views

Silver Company makes a product that is very popular as a Mothers Day gift. Thus,...

Accounting
1.2K views

Bridgeport Co. had the following transactions during the current period. Mar. 2 Issued 4,800 shares...