On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
Business
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a. True b. False Indicate whether the statement is true or false
Business
A stock dividend, declared by a corporation's directors, is a distribution of additional shares of the corporation's own stock to its stockholders without the receipt of any payment in return.
Answer the following statement true (T) or false (F)
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What are the three conditions required by accounting standards in determining whether leases are treated as capital leases?
Business
The ________ is a GATT scheme that allows a developing state to obtain tariff concessions from a developed state on a nonreciprocal basis
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