Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $700 of merchandise on credit (that had cost $280) to Natara Morris, terms n/15. 5 Sold $6,900 of merchandise (that had cost $2,760) to customers who used their Zisa cards. Zisa charges a 3.0% fee. 6 Sold $5,700 of merchandise (that had cost $2,280) to customers who used their Access cards. Access charges a 2.0% fee. 8 Sold $4,610 of merchandise (that had cost $1,844) to customers who used their Access cards. Access charges a 2.0% fee. 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $683 balance in McKee’s account was from a credit sale last year. 18 Received Morris’s check in full payment for the June 4 purchase.
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Business, 22.06.2019 08:30, adambbogard1589
Match the items with the actions necessary to reconcile the bank statement.(there's not just one answer)1. interest credited in bank account2. fee charged by bank for returned check3. checks issued but not deposited4. deposits yet to be crediteda. add to bank statementb. deduct from bank statementc. add to personal statementd. deduct from personal statement
Answers: 2
Business, 22.06.2019 15:20, amulets5239
Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.
Answers: 3
Business, 22.06.2019 23:50, jtroutt74
Juniper company, inc. uses a perpetual inventory system. 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 payment on august 16 is:
Answers: 1
Mayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold...
Mathematics, 14.03.2020 04:01