0
Debit purchases / goods account
Credit Accounts Payable
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Merchandise with a sale price of 500 is sold on account with the terms 2 10 n 30 The journal entry to record the sale would include a?
490
What needs to happen when recording a journal entry for a sale account?
When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.
What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
Why is the journal necessary in accounting?
Journal's are an important element in terms of accounting.It is said so because the journal records and shows the transactions made by the firm during a particular year.journal is the book where they record the primary and first handed entries.It is from this journal entries they make other entries in the book of ledger,trial balance..etc..If any entry in the journal goes wrong then the whole matter will go wrong.....All the best....keep gionging.....
If the ownership of merchandise passes to the buyer when the seller delivers the merchandise for shipment the terms are stated as FOB destination True or False?
false
Merchandise with a sale price of 500 is sold on account with the terms 2 10 n 30 The journal entry to record the sale would include a?
490
What needs to happen when recording a journal entry for a sale account?
When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.
What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
Why is the journal necessary in accounting?
Journal's are an important element in terms of accounting.It is said so because the journal records and shows the transactions made by the firm during a particular year.journal is the book where they record the primary and first handed entries.It is from this journal entries they make other entries in the book of ledger,trial balance..etc..If any entry in the journal goes wrong then the whole matter will go wrong.....All the best....keep gionging.....
Can you buy cigarettes with a speedy reward food and merchandise card?
No, you cannot use a Speedy Rewards food and merchandise card to purchase cigarettes. These rewards cards are typically designed for redeeming points on eligible food and merchandise items, and tobacco products are generally excluded from such promotions. Always check the specific terms and conditions of the rewards program for detailed information.
If the ownership of merchandise passes to the buyer when the seller delivers the merchandise for shipment the terms are stated as FOB destination True or False?
false
What is the arrangement between buyer and seller as to when payments for merchandise are to be made?
Credit Terms
What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB shipping point?
xx inventory (debit) Account Payable (Credit) Purchased inventory, terms of 2/30 (2/30 means 2%off if you pay full amount in 30 days) When you pay within 30 days, record as follow: Account Payable (Debit) Purchase Discount (Credit) Cash (Credit) Paid with purchase discount, terms of 2/30 issued on xxx
How to obtain a merchandise license?
A company called Perpetual Licensing has a useful website with a good description of merchandise licensing and how it works, as well as definitions of the major terms.
The arrangements between buyer and seller as to when payments for merchandise are to be made are called?
credit terms
When arrangements between buyer and seller as to payments for merchandise are to be made are called?
credit terms
Can you accept the terms and conditions before proceeding with the purchase?
Will you agree to the terms and conditions before completing the purchase?
