Business, 13.12.2019 19:31 leapfroggiez

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. on september 14, johnson returns some of the merchandise. the selling price of the merchandise is $500 and the cost of the merchandise returned is $350. johnson pays the invoice on september 18, and takes the appropriate discount. the journal entry that ryan makes on september 18 is:

a. cash 5,684 accounts receivable 5,684
b. cash 5,194 accounts receivable 5,194 cash 5,800 accounts receivable 5,800
c. cash 5,684 sales discounts 116 accounts receivable 5,800
d. cash 5,194 sales discounts 106 accounts receivable 5,300

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 12:00

In the united states, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. in the united kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. the united kingdom has a comparative advantage in the production of:

Answers: 2

Answer

Business, 22.06.2019 12:10

Lambert manufacturing has $100,000 to invest in either project a or project b. the following data are available on these projects (ignore income taxes.): project a project b cost of equipment needed now $100,000 $60,000 working capital investment needed now - $40,000 annual cash operating inflows $40,000 $35,000 salvage value of equipment in 6 years $10,000 - both projects will have a useful life of 6 years and the total cost approach to net present value analysis. at the end of 6 years, the working capital investment will be released for use elsewhere. lambert's required rate of return is 14%. the net present value of project b is:

Answers: 2

Answer

Business, 22.06.2019 15:40

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.

Answers: 2

Answer

Business, 22.06.2019 20:50

Lead time for one of your fastest-moving products is 20 days. demand during this period averages 90 units per day.a) what would be an appropriate reorder point? ) how does your answer change if demand during lead time doubles? ) how does your answer change if demand during lead time drops in half?

Answers: 1

Answer

You know the right answer?

On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with cred...

Questions