![hhugfatqtyc](/avatars/35173.jpg)
hhugfatqtyc
06.11.2019 •
Business
On june 10, cullumber company purchased $8,400 of merchandise from oriole company, terms 3/10, n/30. cullumber company pays the freight costs of $380 on june 11. goods totaling $500 are returned to oriole company for credit on june 12. on june 19, cullumber company pays oriole company in full, less the purchase discount. both companies use a perpetual inventory system.
Solved
Show answers
More tips
- D Dating, Love, Relationships How Long Can Love Last?...
- S Science and Technology How to Make a Homemade Smoker: The Ultimate Guide...
- S Society and Politics 10 Tips for Boosting Your Self-Esteem...
- C Computers and Internet How to Create a Folder on Your iPhone?...
- G Goods and services How to sew a ribbon: Tips for beginners...
- F Food and Cooking How to Make Mayonnaise at Home? Secrets of Homemade Mayonnaise...
- C Computers and Internet Which Phone is Best for Internet Surfing?...
- F Food and Cooking Everything You Need to Know About Pasta...
- C Computers and Internet How to Choose a Monitor?...
- H Horoscopes, Magic, Divination Where Did Tarot Cards Come From?...
Answers on questions: Business
- B Business Contractual capacity includes the financial ability to pay for the benefits of a contract. a. true b. false...
- B Business Aetna Insurance is a dominant provider of health insurance, and it contracts with businesses to offer employee health insurance. Aetna typically relies on standard...
- B Business 5. such as being angry or upset, or simply not wanting to deal with a particular person or situation, may negatively affect one s listening....
- H Health An example of externalization of behavior as a result of stress is a. isolation. b. withdrawal. c. outbursts of anger. d. headaches or stomachaches....
- M Mathematics According to the 2000 census the population of canton was 7,720. the population of holly springs was 3,200. canton s population increases at a rate of 80 people a year...
- M Mathematics What is the solution of 3(4-2x)=-x+1...
- A Arts Robert frost stopping by woods on a snowy evening...
- S Social Studies Ocean that is partially enclosed and larger than a bay...
- H History What did the puritans leave england for america? a. the puritans were driven from their homes in england by starvation and disease b. the puritans we re looking for...
- B Biology Sea otters use stones and rocks to break open abalone shells in order to eat the flesh inside. a young sea otter observes other sea otters break open shells and thus...
Ответ:
Explanation:
June 10: DR inventory. Debit: $8,400. The inventory asset account will increase with the purchase.
CR Account payable. Credit: $8400.- Te AP liability will also increase
To record the purchase of inventory on account from Oriole Company
June 11: DR inventory. Debit: $380. Inventory will also increase with the cost of the freight in
CR Cash. Credit: $380.- The cash asset decreases wit te payment amount.
To record the payment to freight.
June 12: DR Accounts payable. Debit: $500. Teh liability decreases with the cost of the goods returned.
CR inventory: $500.- The inventory asset also decreases.
To recor inventory returned to oriole
June 19 DR Account PAyable. Debit: $1,900 The AP liability decrease with the gross payment amount ($8,400 - $500)
CR Inventory: $237.- The inventory asset decreases with the discount taken ($7,900 X 0.03)
CR Cash Credit: $7663 The cash asset decreases with the net payment amount
To record the payment to oriole company and the discount taken.
Ответ: