![Gerber7778](/avatars/12667.jpg)
Gerber7778
09.03.2020 •
Business
A supplier offers a company terms 3/10, n/30 for a $10,000 purchase on account on January 1. The company uses a perpetual inventory system to record transactions. If the company makes the payment on January 10, the entry to record the payment will include a:
Solved
Show answers
More tips
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
- A Art and Culture When Will Eurovision 2011 Take Place?...
- S Style and Beauty How to Choose the Perfect Hair Straightener?...
- F Family and Home Why Having Pets at Home is Good for Your Health...
- H Health and Medicine How to perform artificial respiration?...
Answers on questions: Business
- H History The increasing price of land in the united states has resulted in an increase in the answer .a.number of small farmsb.size of small farms c.number of large farms d.size...
- E English What is a noun functioning as and adjective...
- M Mathematics Jennifer is buying cupcakes for a party. 12 cupcakes is $8.40. What is the unit rate for each cupcake? I reall need help I I have no idea about unit rates...
- C Chemistry Write a balanced net ionic equation for the following double replacement reaction...
Ответ:
The entry to record the payment:
Debit Accounts Payable $10,000
Credit Purchase discount $300
Credit Cash $9,700
Explanation:
Credit terms of 3/10, n/30 means that 3% discount for the payment within 10 days and the full amount to be paid within 30 days.
On January 1, the company purchase inventory:
Debit Inventory $10,000
Credit Accounts Payable $10,000
The company makes the payment on January 10 and takes the appropriate discount:
3% x $10,000 = $300
The entry to record the payment:
Debit Accounts Payable $10,000
Credit Purchase discount $300
Credit Cash $9,700
Ответ:
By keeping records...