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jeka94
2 years ago
8

Record the following transactions for Lett Company. (Credit account titles are automatically indented when the amount is entered

. Do not indent manually.) 1.On August 4, Lett sold merchandise on account to Smiley Company for $610, terms 2/10, n/30. 2.On August 7, Lett granted Smiley a sales allowance and reduced the cost of the merchandise by $60 because some of the goods were slightly damaged. 3.On August 12, Smiley paid the account in full.
Business
1 answer:
natta225 [31]2 years ago
4 0

Answer:

The journal entries are shown below:

Explanation:

The journal entries are as follows

On August 4

Account Receivable   $610

    To Sales Revenue       $610

(Being the goods sold on credit basis is recorded)

On August 7

Sales Return and Allowances   $60

      To Accounts Receivable   $60

(Being the sales allowance is recorded)

On August 12

Sales Discount      $11    

Cash $539

   To  Accounts Receivable  $550

(Being the amount paid is recorded after considering the 2% discount

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The correct answer is letter "A": written disclosure, at first substantive contact.

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Define the phrase "earnings management." under what conditions, if any, is earnings management acceptable? do auditors' responsi
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2 years ago
Christin, the CEO of a national IT manufacturer, was approached by Ultimate Phones, a new company that is marketing a new type o
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Christin the CEO of a national IT manufacture is experiencing the   (B) bounded rationality

Explanation:

By analyzing the options given in the question we can say that

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Kathy wants to buy a condominium selling for ​$95 comma 000. The taxes on the property are ​$1500 per​ year, and​ homeowners' in
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Answer:

Check the answers below!

Explanation:

There is just one question despite the exercise requires completition of 7 additional numerals.

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$95.000 * 20% =  $19.000

b. 28% of adjusted monthly income is:

(5000-145)*28%=

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Answer:

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