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Prepare journal entries to record each of the following sales transactions of a merchandising company. Show supporting calculations and assume a perpetual inventory system.
Apr. 1 Sold merchandise for $3,000, granting the customer terms of 2/10, EOM; invoice dated
April 1. The cost of the merchandise is $1,800.
Apr. 4 The customer in the April 1 sale returned merchandise and received credit for $600. The merchandise, which had cost $360, is returned to inventory.
Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4.
Hitzu Co. sold a copier costing $ 4,800 with a two year parts warranty to a customer on August 16, 2013, for $ 6,000 cash.
alison inc. paid 83400 for a 40 percent interest in holister corporations common stock. this investee had assets with a
If a firm decided to reevaluate and reorganize the way it did business, in hopes of creating competitive advantage, by changing or decreasing jobs, the company would be using which of the following management technique?
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jinglegym a best-selling toy has a selling price of 15. if the contribution margin ratio is 40 and if the fixed costs
from the video determine how the same focus on quality demonstrated by the barcelona restaurant group could benefit
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sycamore company uses a certain part in its manufacturing process that it buys from an outside supplier for 37 per part
the sweetwater candy company would like to buy a new machine that would automatically dip chocolates. the dipping
incentive corporation was organized in 2009 to operate a financial consulting business. the charter authorized the
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