Business, 10.03.2020 06:54 blueval3tine

Dollar Co. sold merchandise to Pound Co. on account, $25,500, terms 2/15, net 45. The Pound Co. paid the invoice within the discount period. What is the sales amount to be recorded in the above transactions?

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Answer from: aupein

The sales amount to be recorded in the above transactions is $24,990

Explanation:

Term 2/15, net 45 means there is a discount of 2% available on the sale amount to the customers who will pay withing 15 days after sale with net credit period of 45 days.

As Pound Co paid the invoice with the discount period so, they will be eligible to claim the discount.

Discount amount = 25,500 x 2% = $510

Net Sales amount = $25,500 - $510 = $24,990

Answer from: ayandjay01

Sales revenue = $25,500

sales discount = $510

net sales = $25,500 - $510 = $24,990

Explanation:

The journal entries to record this transaction should be:

XX/YY, merchandise sold on account

Dr Accounts receivable 25,500

Cr Sales revenue 25,500

The journal entry to record the collection of the account should be:

XY/YY, collection of accounts receivable

Dr Cash 24,990

Dr Sales discount 510

Cr Accounts receivable 25,500

Answer from: Quest

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

Answer from: Quest

odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.

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Dollar Co. sold merchandise to Pound Co. on account, $25,500, terms 2/15, net 45. The Pound Co. paid...

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