Mullis company sold merchandise on account
Web18 iun. 2024 · Since the account has not been paid yet, the amount must be realized as a balance due in Accounts Receivable. When the funds are collected, the AR account … WebView full document. 19. Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record the collection on account would be: A. …
Mullis company sold merchandise on account
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WebQuestion Mullis Company sold merchandise account to a customer for$1,025, terms : 1141360. Mullis Company sold merchandise on account to a customer for$1,025, terms … WebAccounting. Accounting questions and answers. Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record the collection on …
WebA company had net sales of $600,000, total sales of $750,000, and an average accounts receivable of $75,000. Its accounts receivable turnover equals: A) 0.13 B) 0.80 C) 7.75 … WebMerchandise with a sales price of $500 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a O A) Debit to Accounts Receivable for $490 B) Debit to Cash for $490 OC) Credit to Sales for $500 O …
WebIn a merchandising business, when merchandise sold on account, the only journal entry required is a Debit to Accounts Receivable and a Credit to Sales. Select one: True False When merchandise is sold for cash, two entries are recorded. The second entry, to record the... When merchandise is sold for cash, two entries are recorded. WebQuestions and Answers for [Solved] Mullis Company sold merchandise on account to a customer for $625,terms n/30.The journal entry to record the collection on account would be: A)Debit Cash of $625 and credit Sales $625. B)Debit Cash of $625 and credit Accounts Receivable $625. C)Debit Accounts Receivable $625 and credit Sales $625.
WebDebit Cash of $625 and credit Accounts Receivable $625. Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to …
WebThe cost of the merchandise sold was $7,100. 26. Bird Company paid freight of $450 on April 24 purchase from Swan Company. 30. Swan Company granted a customer allowance (credit memo) to Bird Company for $11,300 for merchandise that was returned from the August 24 purchase. The cost of the merchandise returned was $6,500. textbook year 5 cefrWebMullis Company sold merchandise on account to a customer for $625,terms n/30.The journal entry to record this sale transaction would be: A)Debit Cash of $625 and credit Sales $625. B)Debit Cash of $625 and credit Accounts Receivable $625. C)Debit Accounts Receivable $625 and credit Sales $625. D)Debit Accounts Receivable $625 and credit … sworn declaration of zero rated salesWebMullis Company sold merchandise on account to a customer for $625, terms n/30. The Journal Entry to record this sale is: Debit Cash $625 and Credit Accounts Receivable … textboostingWeb-Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record this sale transaction would be: Answer: Debit Sales $625 and credit Accounts Receivable $625. Step-by-step explanation Leave a comment if you have any query. Student review 100% (1 rating) Thorough explanation textbook year 4Web25 nov. 2024 · The journal entry to - Brainly.com. 11/25/2024. Business. College. answered • expert verified. Mullis Company sold merchandise on account to a customer for … sworn declaration of income birWebProblem 2: Affectionate Company sold merchandise on account for P500,000. The terms are 3/10, n/30. The related freight charge amounted to P10,000. The account was collected within the discount period. Required: Prepare journal entries to record the transactions under the following freight terms: a. FOB destination and freight collect b. sworn declaration of professionals birWebMullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record this sale transaction would be: Selected Answer: Debit Accounts Receivable $625 and credit Sales $625. CorrectAnswer: Debit Accounts Receivable $625 and credit Sales $625. sworn declaration of zero rated sales bir