If a buyer takes advantage of a sales discount, the journal entry recorded by the seller will include a(n):
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