Prepare journal entries to record each of the following sales transactions of a merchandising company. the company uses a perpetual inventory system and the gross method. apr. 1 sold merchandise for $3,000, with credit terms n/30; invoice dated april 1. the cost of the merchandise is $1,800. apr. 4 the customer in the april 1 sale returned $300 of merchandise for full credit. the merchandise, which had cost $180, is returned to inventory. apr. 8 sold merchandise for $1,000, with credit terms of 1/10, n/30; invoice dated april 8. cost of the merchandise is $700. apr. 11 received payment for the amount due from the april 1 sale less the return on april 4.

Sara bought 12 3/4 cakes sara's friends ate 3/8 how much cake is left

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning econ