If a buyer takes advantage of a sales discount, the journal entry recorded by the seller will include a(n):
debit to Cash, debit to Sales Discount and credit to Accounts Receivable.
举一反三
- A sales discount is: A: A reduction in price below the list price. B: Recorded as a credit of inventory account. C: Offered to the buyer for keeping damaged goods. D: Offered to encourage early payment from the buyer.
- （ ） define the conditions under which the seller and buyer agree to settle the financial amount of the sales contract.
- A stand-by letter of credit ______________. A: is never revoked B: is not a letter of credit C: is invoked in the event of non-compliance by buyer or seller with the terms of an original credit D: is invoked in the event of non-compliance by the buyer or seller with the terms of the sales contract
- What should be made clear when the seller and the buyer talk about price during business negotiation? A: The trade terms and the price adjustment B: The liabilities of the seller and the buyer C: The commission and/or discount in the quoted price D: All of above
- Whenever direct material, direct labor, and manufacturing overhead are recorded on a job cost record, an associated journal entry is made to debit which of the following accounts? （ ） A: Sales Revenue B: Finished Goods Inventory C: Cost of Goods Sold D: Work in Process Inventory
内容
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In letter 4 ，who is writer？buyer or seller？A sellerB buyer A: seller B: buyer
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An exporter sells goods to a customer abroad on CIF and FCA terms. Who is responsible for the freight charges respectively（） A: seller, seller B: seller, buyer C: buyer, seller D: buyer, buyer
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Which of the following are books of prime entry? 1 Sales day book 2 Cash book 3 Journal 4 Purchase ledger
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Smith Corporation issues $2,000,000, 10-year, 8% bonds payable at a price of 98. The journal entry to record the issuance will include a:
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In general trades, there are buyer and seller, and the transaction is simple and convenient. Yet in compensation the buyer and the seller play the double roles as both buyer and seller in the meantime.