On November 15, 2017, company sold goods on credit to company B for 3 million dollars and recognized an accounts receivable. On the due date, company B informed company A that it is incapable of paying this amo
A company purchased merchandise inventory on credit for 300 per unit, and later sold the inventory for 500 per unit, The journal entry to record the purchase of inventory included a debit to:A、Accounts ReceivableB、Merchandise InventoryC、Accounts PayableD、Cost of Goods Sold...
On November 10,Magic Company sold goods to PopShop, costing $18 000 on account for $26 000.On November 15, Pop Shop asks for a price reduction of $3 000 for damagedduring shipment;Magic Company agreed to the price reduction. Record the transactions in journal entries instructions: On N...
A pharma company refers to a company in the pharmaceutical industry that focuses on the manufacturing and development of drugs. It aims to produce high-quality drugs, make them accessible, and optimize production processes while reducing costs. These companies rely on advanced technologies, data acqui...
Answer to: A company provided $3,200 of accounting services to a customer on account. Prepare the general journal entry to record this transaction...
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Answer to: A company had sales on account of $50,000. The cost of the inventory sold was $30,000. Prepare the general journal entry to record this...
At year-end , Sun company reported cost of goods sold of 400 million. Ending accounts payable is 100 million, Assuming there are 365 days in a year, How many days on average it takes Sun company to pay its suppliers.() A. 80.75 days B. 91.25 days C. 102.25 days ...
Answer to: A company paid sales salaries of $56,000 and office salaries of $29,000. Prepare the general journal entry to record this transaction...
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