Business, 30.03.2020 21:41 bella2284

Sheffield Corp. sells merchandise on account for $2700 to Morton Company with credit terms of 2/10, n/30. Morton Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Sheffield Corp. make upon receipt of the check?

a. Cash 2100 Accounts Receivable 2100
b. Cash 2058 Sales Returns and Allowances 642 Accounts Receivable 2700
c. Cash 2058 Sales Returns and Allowances 600 Sales Discounts 42 Accounts Receivable 2700
d. Cash 2646 Sales Discounts 54 Sales Returns and Allowances 600 Accounts Receivable 2100

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 19:50

One investigating company tracked all credit card purchase during 2012 and measured two variables: (1) the type of credit card used (visa, mastercard, american express, or discover), and (2) the amount (in dollars) of each purchase. identify the level of each variable measured.

Answers: 1

Answer

Business, 22.06.2019 01:20

Cindy recently played in a softball game in which she misplayed a ground ball for an error. later, in the same game, she made a great catch on a very difficult play. according to the self-serving bias, she would attribute her error to and her good catch to her

Answers: 1

Answer

Business, 22.06.2019 05:00

Which of the following are considered needs? check all that apply

Answers: 1

Answer

Business, 22.06.2019 12:00

Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.

Answers: 2

Answer

You know the right answer?

Sheffield Corp. sells merchandise on account for $2700 to Morton Company with credit terms of 2/10,...

Questions