User Account

All Pages

Gross method of recording sales discounts

Assignment Help Accounting Basics
Reference no: EM13511937

Supplement Recording Sales Discounts

A sale is made for $8,000; terms are 2/10, n/30. At what amount should the sale be recorded under the gross method of recording sales discounts? Give the required entry. Also give the collection entry, assuming that it is during the discount period.

Reference no: EM13511937

Questions Cloud

Describe the elements and functions of god myths : Describe two myths of the female devine from different cultures and describe the elements and functions of god myths?
Find the length of time the car is in the air : A car is parked on a cliff overlooking the ocean on an incline that makes an angle of 17.0° below the horizontal. Find the length of time the car is in the air
Governments are often justified, from an economic : 1) Governments are often justified, from an economic perspective, as being able to correct market failures. Discuss what might cause market failures and whether or not each of the factors underlying market failure might also influence the abili..
Compute the magnitude and direction of third displacement : A man lost in a maze makes three consecutive displacements so that at the end of his travel he is right back where he started. find the magnitude and direction of the third displacement
Gross method of recording sales discounts : What amount should the sale be recorded under the gross method of recording sales discounts? Give the required entry. Also give the collection entry, assuming that it is during the discount period.
What is an operational hypothesis : What is an operational Hypothesis, and how would I wright one about the study below? The State of Wisconsin began running a Boot Camp for first time youth drug offenders. The camp entails sending the ofenders to the north woods from 3/14/2011 - 3/..
What is the willingness condition for cost minimization : MPL=100 MPK=500 PL=50 PK=10. Is the firm minimizing costs? If not, how should the firm adjust its input set? What is the willingness condition for cost minimization? What two conditions must be met if a firm is maximizing profits? Explain how t..
How far upstream is the boat : A rowboat crosses a river with a velocity of 3.67 mi/h at an angle 62.5° north of west relative to the water. How far upstream is the boat when it reaches the opposite shore
Explain the concentrations of barium and sulfate ions : A solution is prepared by mixing 75.0 mL of 0.020 M BaCl2 and 125 mL of 0.040 M K2SO4. What are the concentrations of barium and sulfate ions in this solution. Assume only SO4^-2 ions (no HSO4-) are present

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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