Business, 20.03.2020 03:01 littlecedrick2908
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. The journal entry or entries that Ryan will make on September 12 is (are):a. 5,684 Purchases
Cash 5,684
b. 4,000 Accounts payable
Merchandise inventory 80
Cash 3,920
c. 5,800 Accounts payable
Purchases discounts 116
Cash 5,684
d. 5,684 Accounts payable
Cash 5,684
e. 5,684 Cash
116 Purchases discounts
Accounts payable 5,800
Answers: 2
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On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with cred...
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