Problemon may 15 brandle sold 52000 of inventory items on, Ask an Expert

Accounting

Problem

On May 15, Brandle sold $52,000 of inventory items on credit with the terms 2/15, net 30. Payment on $30,000 of the sales was received on May 28 and the remaining payment was received on June 12. Assuming Brandle uses the gross method of accounting for sales discounts, what is the journal entry made on May 28

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92751683

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Assessment task individual reflective pieceindividual

Assessment task: Individual Reflective Piece Individual Responsible Leadership Model For your individual assignment, you are required to submit a reflective piece. In your write-up you should include the following requir ...

Question - what is the present value of 7160 to be received

Question - What is the present value of $7,160 to be received at the end of each of 18 periods, discounted at 5% compound interest?

Question you will write a 6-10-page research-based paper in

Question: You will write a 6-10-page research-based paper in current APA format that compares and contrasts the various business valuation approaches. The paper must include at least 4 professional/scholarly references i ...

Question - the ward county hospital center wchc wants to

Question - The Ward County Hospital Center (WCHC) wants to buy a new mobile primary care van to use in screening residents in an underserved local neighborhood. The van will last five years and costs sixty-eight thousand ...

Question - bowcutt company sold 400000 of 7 percent bonds

Question - Bowcutt Company sold $400,000 of 7 percent bonds on January 1, 2018, when the effective rate of interest was 6%. The bonds will mature in five years, and pay interest on June 30 and December 31. Using the effe ...

Business report assignment - to complete it students will

Business Report Assignment - To complete it, students will be provided with an Australian publicly listed company where they will be required to conduct financial statement analysis. Task Information - You have randomly ...

Question - effective financial reporting depends on sound

Question - Effective financial reporting depends on sound ethical behavior. Financial scandals in accounting and the businesses world have resulted in legislation to ensure adequate disclosures and honesty and integrity ...

Questions -q1 at december 31 2018 lyndseys boutique had

Questions - Q1. At December 31, 2018, Lyndsey's Boutique had 1,000 gift certificates outstanding, which had been sold to customers during 2018 for $75 each. Lyndsey's business operates on a gross profit of 60 percent of ...

Question - assume andersons general store bought on credit

Question - Assume Andersons general store bought on credit, a truckload of merchandise from American wholesaling costing $24,500. If Anderson paid National Trucking $800 cash for transportation, immediately returned good ...

Assignmentplease read the following economist article that

Assignment Please read the following economist article that is attached at the end of this instruction paper: "The Future of Jobs The onrushing wave Previous technological innovation has always delivered more long-run em ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert