User Account

All Pages

Record the receipt of payment from the customer

Assignment Help Accounting Basics
Reference no: EM132139160

Question - Use the following information for transactions 18 and 19. You are the SELLER. You sell merchandise on account for $12,000. The merchandise cost you $7,200. The terms are FOB shipping, 2/10, n/30. You receive a bill from UPS for $190 for transportation costs. The customer takes advantage of the sales discount when he pays you. Record the following transactions. SPELLING COUNTS!

Sale of the merchandise, taking into consideration transportation charges (if necessary).

Receipt of payment from the customer.

Reference no: EM132139160

Questions Cloud

Why the purchase of supplies is usually recorded in asset : Explain why the purchase of supplies is usually recorded in the asset account rather than in an expense account
Risks of doing business in that country : Outline how the culture of a country might influence the risks of doing business in that country. illustrate the answer with examples.
Explain what project risk is and the processes : Explain what project risk is and the processes for managing it.
Why motivation is suggested to affect individual performance : Explain, in your own words (using citations), why motivation is suggested to affect individual performance and organizational outcomes.
Record the receipt of payment from the customer : The customer takes advantage of the sales discount when he pays you. Record the Receipt of payment from the customer
Isolated organizational issues : Do you all see leadership roles as being more challenging in light of global health care growth?
Identify the ethical principle and theories : As a healthcare professional, you will be tasked with making critical decisions that will test your ethical understanding and abilities.
Current psychographics and demographics : What is Macy's current psychographics and demographics?
Discusses four types of communications : The text discusses four types of communications

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