Journalize the following transactions for a merchandiser that uses the gross method for recording sales and a perpetual inventory system.
On January 8, inventory was sold for $7,000 on account. Credit terms were 2/15, n/30 (cost $5,500). On January 31, cash was received in full settlement of the January 8 sale. Omit explanations.
What will be an ideal response?
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Norman was recognized as the best Albertons' employee of the year. His name, along with the names of other winners, is engraved on a plaque that is prominently displayed in the store. This is an example of
A. management by objective. B. an extrinsic reward. C. an intrinsic reward. D. management by exception. E. job enrichment.
Can you write an effective introduction by creating feelings of stress or discomfort?
A) Yes. B) No.
A product is currently made in a process-focused shop, where fixed costs are $9,000 per year and variable costs are $50 per unit. The firm is considering a fundamental shift in process, to repetitive manufacturing
The new process would have fixed costs of $90,000, and variable costs of $5. What is the crossover point for these processes? For what range of outputs is each process appropriate?
Which of the following is always irrelevant to short-term operating decisions?
A) relevant cost B) differential cost C) opportunity cost D) sunk cost