Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. transaction 5 sales were $80,000. cost of merchand

Transaction 5 Sales were $80,000. Cost of merchandise sold was 75% of its sales price....

50.1K

Verified Solution

Question

Accounting

Transaction 5 Sales were $80,000. Cost of merchandise sold was 75% of its sales price. 75% of the sales were on open account. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Account: Dollar amount: 60000 Account: Dollar amount: 20000 Account: Dollar amount: -60000 Account: Dollar amount: 20000 Account: Dollar amount: Account: Dollar amount: Foil1=Leave%20Blank

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

Score 33 33 100 10 20 answered Question 17 A person standing close to the...

Chemistry
1.2K views

why studying the Stereophysical organic chemistry? please give me 3 reasons

Advance Math
1.2K views

Topology (a) Prove that the interval [0,1] with the subspace topology is connected from basic principles. (b) Prove...

Physics
1.2K views

2 A 44 mH inductor is connected to 220 V 50 Hz ac supply The...

Physics
1.2K views

17 Two uniform rods of mass m and length I form a cross moment of...

Basic Math
1.2K views

When rolling a die 20 times, what is the probability of rolling exactly 4 three...

Statistics
1.2K views

Complete parts a c y X y y 1 2 2 1 3 0 a...

Algebra
1.2K views

Find all of the solutions of the polynomial equation x 3x 3x 3x 2 0...

Accounting
1.2K views

Hello, Please I need a paraphrasing of the following: 2. AI Machines Performs Many Accounting...

Accounting
1.2K views

On January 1, Year 1, Your Ride inc paid $36,000 cash to purchase a taxi...

Accounting
1.2K views

sevice and to market the mustum and is efher programs. One of the Outreach ofletings,...

Accounting
1.2K views

Lynbrook, Inc. purchased inventory with an invoice price of $40,000 from Scan House, LLC. on...