Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. neslund ornamentals offered a 2% trade discount to

Neslund Ornamentals offered a 2% trade discount to Parsons Retail Outlet for all purchases over...

80.2K

Verified Solution

Question

Accounting

Neslund Ornamentals offered a 2% trade discount to Parsons Retail Outlet for all purchases over $200,000. Parsons Retail Outlet purchased $300,000 from Neslund Ornamentals on account. Neslund uses the periodic inventory system. Which of the following is the journal entry made by Neslund Ornamentals to recognize the sale and the 2% trade discount?

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Put the following steps of the light reactions in the correct order: 1. Light excites an electron...

Biology
Q

The distinctive odor of vinegar is due to acetic acid, CH3COOH, which reacts with sodium hydroxide...

Chemistry
Q

Marking scheme 4 for correct answer 0 if not attempted and 1 in all other...

Physics
Q

Situation 1 Origami paper is always in the shape of a square If you take...

Basic Math
Q

Question 3 of 15 3 The following data set was collected from a survey 1...

Statistics
Q

Let A = A is a 4X4 matrix. Show that A is invertible by GershgorinCircles.

Algebra
Q

parachutist s speed during a free fall reaches 55 meters per second What is this...

Algebra
Q

4 10 points Find the two square roots of 1 i 3 and write the...

Algebra
Q

Exercise 15-21 Your answer is partially correct. Try again The outstanding capital stock...

Accounting
Q

5 18 points Liberty Company has the following inventory transactions for the year. Date January...

Accounting
Q

4 points Save Answer Question 13 1 Identify two substantive analytical procedures that can be...

Accounting
Q

Use the information below to answer the questions that follow: Number of Units Price...

Accounting