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denaemarie02
27.11.2019 •
Business
Owens jewelers uses the perpetual inventory system. on april 2, owens sold merchandise with a cost of $2,500 for $7,000 to a customer on account with terms of 2/15, n/30. which of the following journal entries correctly records the sales revenue?
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Ответ:
The following journal entries correctly records the sales revenue:
1.
Debit Accounts Receivable $7,000
Credit Revenue $7,000
2.
Debit Cost of good sold $2,500
Credit Merchandise $2,500
Explanation:
The terms of 2/15, n/30 means 2% discount for the payment within 15 days and the full amount to be paid within 30 days.
When Owens sold merchandise, there are 2 entries record the sales:
1. Debit Cost of good sold $2,500
Credit Merchandise $2,500
2.
Debit Accounts Receivable $7,000
Credit Revenue $7,000
Noted: When received the payment from customer, Owens Jewelers records 2% discount if its customer pays within 15 days by the entry:
Debit Cash $6860
Debit Sales Discount $140
Credit Accounts Receivable $7,000
Ответ:
This is unethical
Explanation:
Unethical behaviour is defined as a behaviour that is considered o be morally wrong for a group of people or in a given industry.
In the given scenario the researcher is using sophisticated equipment for an experiment.
He chose a company that he has shares in to supply the equipment.
This can be seen as a use of his influence for financial gain that is outside the normal compensation he is receiving