Merchandise inventory accountancy systems deserve to be generally categorized into two types. They are ________.
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a debit to accounts Payable because that $63,000, a credit to merchandise Inventory for $1,260, and a credit to Cash because that $61,740
A company that offers the perpetual inventory mechanism purchases inventory for $63,000 on account, with regards to 2/10, n/30. I beg your pardon of the following is the journal entry to record the payment made within 10 days?
A agency that provides the perpetual inventory mechanism purchased inventory for $920,000 top top account with terms of 3/7, n/20. I beg your pardon of the following correctly documents the payment do 15 days after the date of invoice?
An invoice of $1,000 because that merchandise purchase is reflecting 2/15, n/30 as regards to credit. If the invoice is payment on or before the fifteenth job after the invoice date, the amount to be paid is ________.
An invoice, with payment regards to 6/10, n/30, was issued on April 28 because that $235.00. If the payment to be made on May 12, the quantity of payment will be ________. (Round her answer to the nearest cent.)
Under the perpetual inventory system, discounts tackled an invoice through the buyer would certainly be ________.
A agency that provides a perpetual inventory system purchased perform on account and also later returned items worth $ 500 come the vendor. I beg your pardon of the adhering to would it is in the correct journal entry to document these returns?
A firm using the perpetual inventory system purchased inventory worth $20,000 on account with terms of 2/10, n/30. Defective inventory of $3,000 was went back two days later, and the accounts were accordingly adjusted. If the invoice is paid 10 days after the invoice date, the quantity of the acquisition discount that would be obtainable to the company is ________.
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A agency using the perpetual inventory mechanism purchased inventory worth $520,000 on account through credit regards to 2/15, n/45. Defective list of $60,000 was returned 2 days later, and also the account were as necessary adjusted. If the agency paid the invoice 25 days later, the newspaper entry to document the payment would certainly be ________.
