Merchandise inventory audit systems deserve to be generally categorized right into two types. Castle are ________.
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a debit to accounts Payable because that $63,000, a credit to was Inventory for $1,260, and also a credit to Cash because that $61,740
A firm that uses the perpetual inventory device purchases inventory because that $63,000 on account, with regards to 2/10, n/30. Which of the complying with is the newspaper entry to document the payment made within 10 days?
A agency that provides the perpetual inventory mechanism purchased inventory because that $920,000 on account with terms of 3/7, n/20. I beg your pardon of the adhering to correctly documents the payment make 15 job after the date of invoice?
An invoice the $1,000 because that merchandise purchased is showing 2/15, n/30 as terms of credit. If the invoice is paid on or prior to the fifteenth job after the invoice date, the amount come be payment is ________.
An invoice, through payment regards to 6/10, n/30, to be issued top top April 28 because that $235.00. If the payment was made top top May 12, the lot of payment will certainly be ________. (Round her answer to the nearest cent.)
Under the perpetual inventory system, discounts handled an invoice by the buyer would certainly be ________.
A firm that supplies a perpetual inventory system purchased list on account and also later returned products worth $ 500 come the vendor. I m sorry of the adhering to would it is in the correct journal entry to record these returns?
A agency using the perpetual inventory device purchased inventory worth $20,000 ~ above account with terms of 2/10, n/30. Defective list of $3,000 was changed two days later, and the account were as necessary adjusted. If the invoice is paid 10 job after the invoice date, the quantity of the acquisition discount that would be available to the firm is ________.
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A agency using the perpetual inventory device purchased inventory worth $520,000 ~ above account with credit terms of 2/15, n/45. Defective list of $60,000 was returned 2 days later, and also the account were appropriately adjusted. If the agency paid the invoice 25 days later, the newspaper entry to document the payment would certainly be ________.
