Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. transaction 5 sales were $80,000. cost of merchand

Transaction 5 Sales were $80,000. Cost of merchandise sold was 75% of its sales price....

50.1K

Verified Solution

Question

Accounting

Transaction 5 Sales were $80,000. Cost of merchandise sold was 75% of its sales price. 75% of the sales were on open account. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Account: Dollar amount: 60000 Account: Dollar amount: 20000 Account: Dollar amount: -60000 Account: Dollar amount: 20000 Account: Dollar amount: Account: Dollar amount: Foil1=Leave%20Blank

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

Relate the structure and/or function of blood components, such as blood proteins, RBC's, WBC's, and platelets.

Medical Sciences
Q

Explain the different social interactions you have had or seen in Virtual Worlds. How have your...

Psychology
Q

When violet light and yellow light shine on a metal surface, only one color produces an...

Physics
Q

13.0 (20 pts) An electroplating process will be used to coat the exterior surface of a...

Mechanical Engineering
Q

For any r, s ? N, show how to order the numbers 1, 2, ....

Advance Math
Q

A mass hanging from a spring is set in motion and its ensuing velocity is...

Calculus
Q

Answer the following questions about the equation below x 34x 12 0 CCXL a List...

Algebra
Q

Miranda is not a key employee of AB Corporation. AB provides Miranda with group term...

Accounting
Q

Mercury, Incorporated, produces cell phones at its...

Accounting
Q

7 A company budgets overhead cost of $8,601,500 for the next year. The...

Accounting
Q

The company is now in the process of prepaing a production budget for the second...

Accounting
Q

Feist Co. expects to sell 200,000 units of its product in the next period with...

Accounting