Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 9/10) during the weekend of sept. 25-27, 2015, app

9/10) During the weekend of Sept. 25-27, 2015, Apple sold 13 million iPhone 6S and...

50.1K

Verified Solution

Question

Accounting

9/10) During the weekend of Sept. 25-27, 2015, Apple sold 13 million iPhone 6S and iPhone 6S Plus phones. Each phone had been accounted for in Apples inventory at their manufacturing cost of $349 and were sold for $649. Assuming that all 13 million phones were sold on account, please write the two journal entries needed to record the revenue and reduction from inventory:

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Prahm Corp. wants to raise $4.8 million via a rights offering. The company currently has 540,000...

Finance
Q

1) A sample of He has a volume of 0.180 L, a pressure 0.800 atm and...

Chemistry
Q

Could someone please assist me with the following? Equus Analyze this quote: “When Equus leaves—if he leaves...

Psychology
Q

A student is running at her top speed of 5m/s to catch a bus, which is...

Physics
Q

Design a digital PID controller based on the Ziegler_Nichols method for for the following system: G(s)=1/((s+1)^4 ) use...

Electrical Engineering
Q

For the equilibrium condition shown the chords are strong enough to withstand a maximum tension...

Physics
Q

K According to a poll on consumer behavior 36 of people say they will only...

Statistics
Q

The graph of f x 5sin 2 x 1 is obtained from the graph of...

Calculus
Q

rcises 9 14 describe the transformation off represented by g Then graph each function See...

Algebra
Q

Explain the five steps in process costing and the weighted-average method of process costing. give...

Accounting
Q

Module 7 Chapter 18 Homework Saved 4 Required information The following information applies to the...

Accounting
Q

A firm does not pay a dividend. It is expected to pay its first dividend...

Finance