Geo company sold merchandise on account for $35,000 with terms 2/10, n/30. the cost of merchandise sold
1 answer
Question:
Geo company sold merchandise on account for $35,000 with terms 2/10, n/30. the cost of merchandise sold was $27,600. how will the journal entry be prepared to record the sale of merchandise?
Answers
The answer is: D) $34,300
Explanation:
The selling price was $35,000 with terms 2/10, n/30. This means that if the buyer pays their bill before the ten days period, they will get a 2% discount. If the buyer pays the bill after the ten days period but before thirty days, they will pay the full amount.
Since the buyer paid before the ten days period they will get a 2% discount. The total cash received by Banks Company was $35,000 x 98% = $34,300
Similar Solved Works
4 answers
Why is the speed of the earths plate measured in centimeter per year instead of in meter per second?
Why is the speed of the earths plate measured in centimeter per year instead of in meter per second?...
9 answers
Which of the following is a monomial? a.2x+yz b. 2+xyz c. 2xyz2 d. 2x-yz
Which of the following is a monomial? a.2x+yz b. 2+xyz c. 2xyz2 d. 2x-yz...
4 answers
Which factors distinguish different aquatic ecosystems? Select four options.the temperature of the airthe temperature of the waterthe
Which factors distinguish different aquatic ecosystems? Select four options. the temperature of the air the temperature of the water the amount of rainfall the amount of sunlight the amount of dissolved oxygen the amount of dissolved salt...
1 answer
Design a controlled experiment to test the effect of water temperature on goldfish. be sure to include
Design a controlled experiment to test the effect of water temperature on goldfish. be sure to include your hypothesis, independent variable, dependent variable, as well as the experimental and control groups in your experiment....
4 answers
By introducing one food at a time, a parent can determine if the child has any foo
By introducing one food at a time, a parent can determine if the child has any foo...
4 answers
The developers of a music-streaming application are updating the algorithm they use to recommend music
The developers of a music-streaming application are updating the algorithm they use to recommend music to listeners. Which of the following strategies is LEAST likely to introduce bias into the application?...
10 answers
Which claim is the narrowest and most focused
Which claim is the narrowest and most focused...
10 answers
Ediment deposited where a river flows into an ocean or lake
Ediment deposited where a river flows into an ocean or lake...
3 answers
Carter has 40 identical coins with a diameter of 3.1 inches and a thickness of 0.4 inches. if he stacks
Carter has 40 identical coins with a diameter of 3.1 inches and a thickness of 0.4 inches. if he stacks all the coins on top of the other, what is the total volume of the stack of coins in cubic inches?...
4 answers
The floor tiles in the Perez family's kitchen are squares that measure 10 3/4 inches to a side . Each grid square in the drawing measures 1/4 inch to
The floor tiles in the Perez family's kitchen are squares that measure 10 3/4 inches to a side . Each grid square in the drawing measures 1/4 inch to side . Which is the scale of the drawing Please hurry...
3 answers
If f(5) = a , what is the value of a?
If f(5) = a , what is the value of a? [tex]If f(5) = a , what is the value of a?[/tex]...
3 answers
The width of a rectangle is 1 units less than the length. The area of the rectangle is 72 units. What
The width of a rectangle is 1 units less than the length. The area of the rectangle is 72 units. What is the width, in units, of the rectangle?...
6 answers
A(n) is a tax issued by the federal government on imported goods ?
A(n) is a tax issued by the federal government on imported goods ?...
4 answers
Which is an equation of the line containing the points (2,5) and (4,4) in standard form
Which is an equation of the line containing the points (2,5) and (4,4) in standard form [tex]Which is an equation of the line containing the points (2,5) and (4,4) in standard form[/tex]...
3 answers
The nurse is caring for an infant undergoing laser therapy for port-wine stain. which instruction does
The nurse is caring for an infant undergoing laser therapy for port-wine stain. which instruction does the nurse give to the infant's parents?...
4 answers
1. [1 point] You are building a computer system around a processor with in-order execution that runs
1. [1 point] You are building a computer system around a processor with in-order execution that runs at 1 GHz and has a CPI of 1, excluding memory accesses. The only instructions that read or write data from/to memory are loads (20% of all instructions) and stores (5% of all instructions). The memor...
4 answers
Name a pair of alternate exterior angles in the diagram. -a. -b. -c. -d.
Name a pair of alternate exterior angles in the diagram. -a. -b. -c. -d. [tex]Name a pair of alternate exterior angles in the diagram. -a. -b. -c. -d.[/tex]...
4 answers
For a 99.65 wt% Fe–0.35 wt% C alloy at a temperature just below the eutectoid, determine the following:
For a 99.65 wt% Fe–0.35 wt% C alloy at a temperature just below the eutectoid, determine the following:...
3 answers
How would you characterize Holden’s memories of Jane? With textual evidence
How would you characterize Holden’s memories of Jane? With textual evidence...