The inventory received on a purchase order was paid for within 20 days of the purchase. Payment terms on invoice were 2% 10, Net 30.
1. DR A/C #20000 Accounts Payable
CR A/C #10100 Checking
CR A/C #54599 Less Discounts Taken
2. DR A/C #20000 Accounts Payable
CR A/C #50100 Cost of Goods Sold
3. DR A/C # 20000 Accounts Payable
CR A/C #10100 Checking
4. DR A/C #50100 Cost of Goods Sold
CR A/C #10100 Checking
Answers: 1
Business, 22.06.2019 06:00
Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr
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%of the world's population controls approximately % of the world's finances (the sum of gross domestic products)" quizlket
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An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?
Answers: 3
The inventory received on a purchase order was paid for within 20 days of the purchase. Payment term...
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