Business, 05.12.2019 17:31 danny1234huang

Tracy company, a manufacturer of air conditioners, sold 200 units to thomas company on november 17, 2016. the units have a list price of $470 each, but thomas was given a 25% trade discount. the terms of the sale were 2/10, n/30december 15, 20161. record the sale of 200 units with a list price of $470, a 25% trade discount (if applicable), with terms of 2/10, n/30 under the gross method.2.record the cash collection on december 15.3.1 prepare the journal entries to record the sale on november 17 (ignore cost of goods) and collection on november 26, 2016, assuming that the net method of accounting for cash discounts is used. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)1. november 17, 2016record the sale of 200 units with a list price of $470, a 25% trade discount (if applicable), with terms of 2/10, n/30 under the net method.2. record the cash collection on november 26.prepare the journal entries to record the sale on november 17 (ignore cost of goods) and collection on december 15, 2016, assuming that the net method of accounting for cash discounts is used. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 22:20

Which of the following best explains why the demand for housing is more flexible than the supply? a. new housing developments are being constructed all the time. b. low interest rates for mortgages make buying a home very affordable. c. the increasing population always drives demand upwards. d. people can move more easily than producers can build new homes.

Answers: 1

Answer

Business, 22.06.2019 23:00

To increase sales, robert sends out a newsletter to his customers each month, letting them know about new products and ways in which to use them. in order to protect his customers' privacy, he uses this field when addressing his e-mail. attach bcc forward to

Answers: 2

Answer

Business, 23.06.2019 00:30

Suppose the government decides to issue a new savings bond that is guaranteed to double in value if you hold it for 20 years. assume you purchase a bond that costs $25. a. what is the exact rate of return you would earn if you held the bond for 20 years until it doubled in value? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. if you purchased the bond for $25 in 2017 at the then current interest rate of .27 percent year, how much would the bond be worth in 2027? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. in 2027, instead of cashing in the bond for its then current value, you decide to hold the bond until it doubles in face value in 2037. what annual rate of return will you earn over the last 10 years? (do not

Answers: 3

Answer

Business, 23.06.2019 00:40

In 2017, "a public university was awarded a federal reimbursement grant" of $18 million to carry out research. of this, $12 million was intended to cover direct costs and $6 million to cover overhead. in a particular year, the university incurred $4 million in allowable direct costs and received $3.4 million from the federal government. it expected to incur the remaining costs and collect the remaining balance in 2018. for 2017 it should recognize revenues from the grant of

Answers: 3

Answer

You know the right answer?

Tracy company, a manufacturer of air conditioners, sold 200 units to thomas company on november 17,...

Questions