Jackson purchased $500 of goods and received credit terms of 2/10, n/30. How muc

Accounting
Tutor: None Selected Time limit: 1 Day

Jackson purchased $500 of goods and received credit terms of 2/10, n/30. How much did he pay if payment was made during the discount period?




Jun 3rd, 2015

Thank you for the opportunity to help you with your question!

B. 510.............................................................................................................................

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 3rd, 2015

how did u got 510

Jun 3rd, 2015

The solution for the answer is not 510. it is $490

Jun 3rd, 2015

oh ok

Jun 3rd, 2015

can u help please

Jun 3rd, 2015
Tyler returned $500 worth of merchandise within the discount period. The entry to record the return is which of the following?

 
 
 


Jun 3rd, 2015

C) Debit Accounts Payable/Suppliers Name for $500; credit Purchases Returns and Allowances for $500


Purchase Return:
Purchase returns are recorded as shown below

Accounts Payable/Accounts Receivable—DR — Purchase Returns—CR —

Jun 3rd, 2015

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Jun 3rd, 2015
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