Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. q3 q4 badr company sold to noor merchandise

Q3 Q4 Badr company sold to Noor merchandise...

70.2K

Verified Solution

Question

Accounting

Q3

image

Q4

image

Badr company sold to Noor merchandise for $100, on credit. Three days later, Noor retumed $8 to B. Which journal entry is correct regarding the return transaction in the journal of Badr? a. Debit: Accounts receivable (current asset) $8, Credit: Sales return (expense) $8 b. Debit: Sales return (expense) $8, Credit: Accounts receivable (current asset) $8 c. Sales (revenue) $8, Credit: Accounts receivable (current asset) $8 d. Debit: Sales return (expense) $8, Credit: Cash (current asset) $8 Understating beginning inventory will understate: a. Owner's equity. b. Assets. c. Cost of goods sold. d. Net income

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

Basic Math
1.2K views

Determine the reactions at A and B for the beams loaded as shown Beam weight...

Statistics
1.2K views

7. Comment on the descriptive statistics (i.e., means, standard deviations) and internal consistency reliabilities in the...

Chemistry
1.2K views

Calculate the percent dissociation of HF (Ka= 3.5x10^-4) in (a) 0.050 M HF (b) 0.50 M HF

Mechanical Engineering
1.2K views

The propeller shaft of a large ship has an outside diameter of 350 mm and inside...

Mechanical Engineering
1.2K views

Q3) Three methods of supplying a 100 000 MJ workload and a 300 000 MJ heat...

Physics
1.2K views

Consider a solid sphere placed on an inclined plane The friction coefficient between the plane...

Geometry
1.2K views

When modeling hourly pay which part of the equation is used to represent the total...

Algebra
1.2K views

Decide whether the statement is possible or impossible cot 0 3 6 is the statement...

Algebra
1.2K views

The function g is related to one of the parent functions described in an earlier...

Accounting
1.2K views

Lead Time Calculation

Accounting
1.2K views

What are the two methods in accounting for leases? What are the advantages and disadvantages...

Accounting
1.2K views

Homework #2 Question : Luther Company's selected transactions during 2017, 2018, 2019 and 2020 are...