User Account

All Pages

What is the correct entry for flores on november

Assignment Help Accounting Basics
Reference no: EM132584493

On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts.

Question 1: What is the correct entry for Flores on November 17, assuming the correct payment was received on that date?

Multiple Choice

Option 1: Cash8,000 Sales discounts160 Accounts receivable 8,000Sales 160

Option 2: Cash7,840 Accounts receivable 7,840

Option 3: Cash7,840 Sales discounts160 Accounts receivable 8,000

Option 4: Cash7,840 Sales160 Accounts receivable 8,000

Reference no: EM132584493

Questions Cloud

Describe potential methods exercised to facilitate : What standards are in place locally to manage sheltering and evacuations in the event of a disaster
Combination of theory x and y management : Leadership and management styles can have a huge impact on employee motivation and production.
What is the balance in the refund liability account at end : What is the balance in the refund liability account at the end of 2021?Rusty Hardware makes only cash sales. It began 2021 with a credit balance of $32,300
How would you address a patients concerns : How would you address a patient's concerns, fears, and/or worries about vaccinations and What scientific research would you utilize in your conversations
What is the correct entry for flores on november : On November 10 of the current year, What is the correct entry for Flores on November 17, assuming the correct payment was received on that date?
Find what amount of allowance for uncollectible accounts : Using the balance sheet approach, what amount of allowance for uncollectible accounts should Jacobsen report at December 31, 2021?
Supply chain integration impact the company overall : How do sales and operations planning in supply chain integration impact the company overall?
Research paper - managing the challenges : Paper must mention and cover these topics related to the subject what is it? advantages? disadvantages? effect in global market
Identify someone you think is effective leader : Identify someone you think is an effective leader. What makes him or her effective? What impact does their effective leadership have on their company?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd