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vilrn/takeAssignment/takeAssignmentMain.do?invoker=8takeAssignmentSessionLocator=8inpi ome Print Item Calculate the gross proft for Jefferson Company based on the following:...

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Accounting

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vilrn/takeAssignment/takeAssignmentMain.do?invoker=8takeAssignmentSessionLocator=8inpi ome Print Item Calculate the gross proft for Jefferson Company based on the following: a. $721,500 b. $183,500 c. $495,500 d. 5226,000 In credit terms of 3/15,n/45, the " 3 " represents the a. full amount of the invoice b. number of days in the discount period c. number of days when the entire amount is due: d. percent of the cash discount Merchandise with a sales price of $5,000 is sold on account with terms 2/10,n/30. The journal entry to record the sale would include a a. credit to Sales for 34,960 b. debit to Custemer lealunds Payable foe 5100 c. Eebit to hocounts Receivable for 54,890 d. debit te Cali for 55,000 Sales to customers who use bank credit cards, such as MasterCard and Visa, are generally treated as a. sales when the credit card company remits the cash b. sales on account c. cash sales d. sales returns Which of the following accounts has a normal credit balance? a. Accounts Receivable b. Inventory c. Sales d. Delivery Expense Which of the following accounts has a normal credit balance? a. Accounts Receivable b. Inventory c. Sales d. Delivery Expense

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