f a customer owed your company $100 on the first day of the month, then purchased $200 of goods on credit on the fifth and paid you $50 on fifteenth, the customer’s ending balance for the month would show a (debit or credit) of how much?
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If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on credit on the fifth and paid you $50 on fifteenth, the customer’s ending balance for the month would show a (debit or credit) of how much?
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- If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on credit on the fifth and paid you $50 on fifteenth, the customers ending balance for the month would show a (debit or credit) of how much?Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalSold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
- Post the following July transactions to T-accounts for Accounts Receivable, Sales Revenue, and Cash, indicating the ending balance. Assume no beginning balances in these accounts. A. on first day of the month, sold products to customers for cash, $13,660 B. on fifth day of month, sold products to customers on account, $22,100 C. on tenth day of month, collected cash from customer accounts, $18,500Beth uses the net invoice method to record sales on account. Beth made sales of $40,000 with terms 3/15, net 45. The customer pays after 25 days. Journalize: Date Accounts Debit CreditA company sold goods worth $10,000 to a customer on credit. The terms of the credit are 3/15, net 45. The customer paid within the discount period. Calculate the amount received from the customer, the discount allowed, and the journal entry to record the transaction.
- Prepare the following journal entries. a. customer is given an allowance of $ 425. b. A customer owes on account $ 2,000. The customer pays within the discount period and receives a sales discount of $ 40. Record the receipt of cash of $1,960.A company has a 30-day credit terms to its customers. It has a total of P120,000 in their accounts receivable, along with an annual revenue of P800,000. Compute for the Accounts Receivable days. Did the company meet its credit terms for the customers? Why? What advise can you give to the company regarding proper accounts receivables management?Using the table, what is the average daily balance of the credit card for the August 1 through August 31 billing period? Round your answer to the nearest dollar. Provide your answer below: Day Activity Adjustment Closing Balance 1 950 8 Payment -400 550 16 Purchase +250 800 24 Purchase +100 900
- Your payables control account has a balance at 1 October 20X8 of $34,500 credit. During October, credit purchases were $78,400, cash purchases were $2,400 and payments made to suppliers, excluding cash purchases, and after deducting settlement discounts of $1,200, were $68,900. Purchase returns were $4,700. What was the closing balance?Using the table, what is the average daily balance of the credit card for the August 1 - August 31 billing period? Round your answer to the nearest cent. Provide your answer below: Day Activity Adjustment Closing Balance 1 850 8 Payment -400 450 16 Purchase +350 800 24 Purchase +600 1,400A credit sale of $1000 is made on may 1, terms 2/10, net/30. A return of $100 is granted on may 3. The entry to record the collection of the payment on may 8 would include a debit to