Sales-related transactions Sayers Co. sold merchandise on account to a customer for $83,000 terms 1/10, n/30. The cost of the goods sold was $59,000. a.  Journalize Sayers’ entries to record the sale.   Accounts Receivable                  x   Sales               x     Cost of Goods Sold                 x   Inventory               x   b.  Journalize the receipt of payment within the discount period.   Cash             x   Accounts Receivable          x   c.  Journalize the entry to record the receipt of payment beyond the discount period of ten days.   Cash                 x   Accounts Receivable            x     Sales            x

Journalize the following merchandise transactions: a. Sold merchandise on account, $21,950 with terms 2/10, n/30. The cost of the merchandise sold was $13,170. If an amount box does not require an entry, leave it blank. Sale Accounts Receivable Sales Cost Cost of Merchandise Sold Merchandise Inventory Cash - Accounts Receivable 21,950 13,170 b. Received payment less the discount. If an amount box does not require an entry, leave it blank. Customer Refunds Payable Accounts Receivable 21,950 13,170 c. Issued a $1,000 credit memo for damaged merchandise. The customer agreed to keep the merchandise. If an amount box does not require an entry, leave it blank. 81

Sales-related transactions Sayers Co. sold merchandise on account to a customer for $90,000 terms 2/10, n/30. The cost of the goods sold was $62,000. a. Journalize Sayers' entries to record the sale, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank. b. Journalize the receipt of payment within the discount period. If an amount box does not require an entry, leave it blank. c. Journalize the entry to record the receipt of payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank.

Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $14,850 with terms 2/10, n/30. The cost of the merchandise sold was $8,910. Sale Cost b. Received payment less the discount. C. Issued a credit memo for returned merchandise that was sold for $10,700 terms n/30. The cost of the merchandise returned was $6,420. Refund Inventory

Presented below are transactions related to Bramble, Inc. May 10 (a) 11 19 24 Purchased goods billed at $15,200 subject to cash discount terms of 2/10, n/60. Purchased goods billed at $11,800 subject to terms of 1/15, n/30. Paid invoice of May 10. Purchased goods billed at $12,300 subject to cash discount terms of 2/10, n/30. Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net amounts after cash discounts and that discounts lost are to be treated as financial expense. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.)

Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 2/10, net 30, for $11,300. Pierce prepaid the $272 shipping charge. Which of the following entries does Pierce make for this sale? Oa. Accounts Receivable-Stanton, debit $11,300; Sales, credit $11,300 Ob. Accounts Receivable-Stanton, debit $11,572; Sales, credit $11,572 Oc. Accounts Receivable-Stanton, debit $11,300; Sales, credit $11,300, and Delivery Expense, debit $272; Cash, credit $272 Od. Accounts Receivable-Stanton, debit $11,074; Sales, credit $11,074, and Accounts Receivable-Stanton, debit $272; Cash, credit $272

Sales-related transactions Sayers Co. sold merchandise on account to a customer for $86,000 terms 1/10, n/30. The cost of the goods sold was $66,000. a. Journalize Sayers' entries to record the sale, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it bla b. Journalize the receipt of payment within the discount period. If an amount box does not require an entry, leave it blank. c. Journalize the entry to record the receipt of payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank. Previous Next Check My Work All work saved. Email Instructor Save and Exit Submit Assignment for Gr APR étv

Merchandise subject to terms 4/15, n/28, FOB shipping point, is sold on account to a customer for $35,000. What is the amount of the cash discount allowed in case the customer pays within the discount period? Select one: a. $1,400 b. $9,800 c. $1,500 d. $5,250

From the general​ journal, record to the accounts receivable subsidiary ledger and post to the general ledger accounts as appropriate.   Record to the accounts receivable subsidiary ledger. Use transaction dates as posting references.   Accounts Receivable Subsidiary Ledger   Henry Co.                                                     Lincoln Co.                                   Now post to the partial general ledger. Use transaction dates as posting references.   Partial General Ledger   Accounts Receivable 112                                                     Merchandise Inventory 142                                                     Sales 411                                                     Cost of Goods Sold 505

The entry to record the sale of $20,000 of merchandise on account with cost of $14,000, would include: a. credit to accounts receivable for $14,000 b. debit to accounts receivable for $20,000 c. debit to cost of goods sold for $20,000 d. credit to inventory for $20,000