Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please make sure not to cut the answers, fully dis

please make sure not to cut the answers, fully displayed plz ...

60.1K

Verified Solution

Question

Accounting

please make sure not to cut the answers, fully displayed plz
image
image
image
On September 12, Vander Company sold merchandise in the amount of $8,200 to Jepson Company, with credit terms of 3/10,n/30. The cost of the items sold is $5,200. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18 and takes the appropriate discount. The journal entry that Jepson makes on September 18 is: Multiple Choice Credit Account Title Cash Purchases Discounts Accounts Payable Debit 7,954 246 8,200 Credit O Account Title Cash Accounts Receivable Debit 7,954 7,954 O Debit Credit 8,200 Account Title Accounts Payable Merchandise Inventory Cash 246 7,954 Credit Debit 8,200 Account Title Accounts Payable Purchases Discounts Cash 246 7,954 Account Title Credit Purchases Cash Debit 7,954 7.954

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