Business, 13.12.2019 01:31, manoli5874

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise, on august 16, it paid the full amount due. the correct journal entry to record the purchase on august 7 is:
a) debit merchandise inventory $9,750; credit cash $9.750.
b) debit accounts payable $9.750; credit merchandise inventory $9,750.
c) debit merchandise inventory $9,750; credit sales returns $1,500; credit cash $8,250
d) debit merchandise inventory $9,750; credit accounts payable $9,750.
e) debit accounts payable $8,250; debit purchase returns $1,500; credit merchandise inventory $9,750.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 11:10, amunson40

The green fiddle has declared a $5 per share dividend. suppose capital gains are not taxed, but dividends are taxed at 15 percent. new irs regulations require that taxes be withheld at the time the dividend is paid. green fiddle stock sells for $71.50 per share, and the stock is about to go ex-dividend. what will the ex-dividend price be?

Answers: 2

continue

Business, 22.06.2019 20:00, ethanyayger

Acompetitive market in healthcare would a. overprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers b. underprovide healthcare because it would eliminate medicare and medicaid c. underprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers d. overprovide healthcare because it would be similar to the approach used in canada

Answers: 1

continue

Business, 22.06.2019 23:10, najsha

Which of the following best explains the purpose of a strike? a. to pressure employers to increase the minimum wage. b. to make sure that producers don't make any profit. c. to get employers to submit to collective bargaining. d. to prevent employers from taking industrial action.

Answers: 2

continue

Business, 23.06.2019 00:00, destinyranson

Which of the following is not a factor to consider when deciding whether to accept a special order? whether this order will hurt the brand name of the company whether other potential orders would be more profitable whether additional fixed costs would need to be incurred whether the offered price is sufficient to cover prime costs and fixed overhead allocated all of the above

Answers: 2

continue

Do you know the correct answer?

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases....