White company sells merchandise on account

Assignment Help Financial Accounting

Reference no: EM13748787

White Company sells merchandise on account for $4,500 to Temple Company with credit terms of 2/10, n/30. Temple Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does White Company make upon receipt of the check?

Reference no: EM13748787

Questions Cloud

Which of the following is the manager learning : A restaurant manager discovers one of his employees eats at another restaurant down the street a couple nights each week. Which of the following is the manager learning about this employee?

Service and manufacturing organizations : In this assignment, you will use the Internet and other sources to gather and interpret information related to service and manufacturing organizations.

Proper year-end adjustment for the expired insurance : Dinosaur Junior Corporation purchased a one-year insurance policy in January 2015 for $75,000. The insurance policy is in effect from May 2015 through April 2016. If the company neglects to make the proper year-end adjustment for the expired insuranc..

What is the tax savings from the special tax treatment : Daniel is considering selling two stocks that have not fared well over recent years. A friend recently informed Daniel that one of his stocks has a special designation, which allows him to treat a loss up to $34,000 on this stock as an ordinary loss ..

White company sells merchandise on account : White Company sells merchandise on account for $4,500 to Temple Company with credit terms of 2/10, n/30. Temple Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does..

Discuss how you envision the testing process : Using the company for which you work or one in which you are interested, choose the conversion approach you would use if the company purchased a new AIS. Explain your choice, including the benefits. Discuss how you envision the testing process.

Many businesses organize their departments into team : Many businesses organize their departments into teams, to support one another and complete projects. Consider how these teams work together and what aspects of group communication need to be considered to have successful communication.

Sales and receivables are entered at gross selling price : On June 3, Arnold Company sold to Chester Company merchandise having a sale price of $5,700 with terms of 3/10, n/60, f.o.b. shipping point. An invoice totaling $99, terms n/30, was received by Chester on June 8 from John Booth Transport Service for ..

Key steps in retirement planning : 1. What are the key steps in retirement planning? 2. Why is retirement planning important?

User Account

All Pages