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Secret Trails received payment in full within the credit period for horse boarding for $900 plus 6% sales tax. terms of the sale were 2/10, n/30. which entry is required to record this payment? a. Debit Cash, $900; credit accounts receivable sales $900 b. Debit cash, $936; debit sales discount $18; credit accounts receivable $954 c. Debit cash, $954; credit sales $954 d. Debit cash, $936; credit sales $936 I said B but not sure.
Determine the types of Credit card sales Bank Credit Card Sales - Most retail businesses accept bank credit cards. Treated as a CASH sale. Recording Bank Credit Card Sale
Money owed by a business enterprise for merchandise bought on open account. It is also known as "A/R" or just "Receivables". Accounts Receivable is the quantity owed to a company
When does something that is a debit becomes a credit?
example of increase asset, decrease owner equity
Define Carriage outwards.
Q. Explain Periodicity assumption of accounting? As-per to the periodicity (time periods) assumption accountants divide an entity's life into months or years to report its econ
Inventory is habitually the largest and most important asset owned by a merchandising business. The inventory of some companies similar to car dealerships or jewellery stores may c
Q. Explain about Trial balance? Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared
Q. Show Periodicity concept? As per to the periodicity (time periods) concept or assumption an entity's life can be meaningfully subdivided into time periods (such as months or
Q. Advantage of a pre-inventory sale? Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the mer
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