subject
Business, 21.03.2020 07:28 JvGaming2001

Presented below are transactions related to Bogner Company.

1. On December 3, Bogner Company sold $570,000 of merchandise to Maris Co., terms 2/10, n/30, FOB shipping point. the cost of the merchandise sold was $350,000.

2. On December 8, Maris Co. was granted an allowance of $20,000 for merchandise purchased on December 3.

3. On December 13, Bogner Company received the balance due from Maris Co.

Instructions:

a. Prepare the journal entries to record these transactions on the books of Bogner Company using a perpetual inventory system.

b. Assume that Bogner Company received the balance due from Maris Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 21:30
The balance sheet contains the following major sections: current assets long-term investments property, plant, and equipment intangible assets other assets current liabilities long-term liabilities contributed capital retained earnings accumulated other comprehensive income required: the following is a list of accounts. using the letters a through j, indicate in which section of the balance sheet each of the accounts would be classified. if an account does not belong under one of the sections listed, select "not under any of the choices" from the classification drop down box. for all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". account classification contra or deducted (yes/no) 1. cash 2. bonds payable (due in 8 years) 3. machinery 4. deficit 5. unexpired insurance 6. franchise (net) 7. fund to retire preferred stock 8. current portion of mortgage payable 9. accumulated depreciation 10. copyrights 11. investment in held-to-maturity bonds 12. allowance for doubtful accounts 13. notes receivable (due in 3 years) 14. property taxes payable 15. deferred taxes payable 16. additional paid-in capital on preferred stock 17. premium on bonds payable (due in 8 years) 18. work in process 19. common stock, $1 par 20. land 21. treasury stock (at cost) 22. unrealized increase in value of available-for-sale securities
Answers: 3
question
Business, 21.06.2019 23:10
You are the new chief information officer for the video-game developer, necturus games. the company has recently undergone a major expansion of its primary product, and you must staff up the is department and determine the best way to develop new game "capsules" for the game, "escape velocity."
Answers: 1
question
Business, 22.06.2019 13:50
Which one of the following statements is true? ddt does not prevent disease from passing from agricultural animals to humans. cost was a major factor in the united states government's decision to ban ddt. many african governments concluded that the potential long-term health effects of ddt were not as serious as the immediate problem of insect control. ddt cannot accumulate in the fat of animals. the ddt ban in the united states has made it very difficult to control agricultural insect pests.
Answers: 3
question
Business, 22.06.2019 14:50
Ann chovies, owner of the perfect pasta pizza parlor, uses 20 pounds of pepperoni each day in preparing pizzas. order costs for pepperoni are $10.00 per order, and carrying costs are 4 cents per pound per day. lead time for each order is three days, and the pepperoni itself costs $3.00 per pound. if she were to order 80 pounds of pepperoni at a time, what would be the average inventory level?
Answers: 3
You know the right answer?
Presented below are transactions related to Bogner Company.

1. On December 3, Bogner Co...
Questions
question
History, 27.06.2019 00:30
question
Physics, 27.06.2019 00:30