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Q 1/5
Score 0
Hanan Company applies the perpetual inventory system. On Feb 2 sold merchandise to Yousif Company for BD 24,000 under a credit terms 2/10, n/30. The cost of merchandise sold was BD 18,000. The first entry is:
120
DR. Account Receivable(Yousif) BD18,000 and CR. Sales BD18,000
DR. Sales BD24,000 and CR. Account Receivable(Yousif) BD24,000
DR. Account Receivable(Yousif) BD24,000 and CR. Sales BD24,000
DR. Sales BD18,000 and CR. Account Receivable(Yousif) BD18,000
Q 2/5
Score 0
Hanan Company applies the perpetual inventory system. On Feb 2 sold merchandise to Yousif Company for BD 24,000 under a credit terms 2/10, n/30. The cost of merchandise sold was BD 18,000. The second entry is:
120
DR. Cost of goods sold BD18,000 and CR. Merchandise Inventory BD18,000
DR. Cost of goods sold BD24,000 and CR. Merchandise Inventory BD24,000
DR. Merchandise Inventory BD24,000 and CR. Cost of goods sold BD24,000
DR. Merchandise Inventory BD18,000 and CR. Cost of goods sold BD18,000
5 questions
Q.
Hanan Company applies the perpetual inventory system. On Feb 2 sold merchandise to Yousif Company for BD 24,000 under a credit terms 2/10, n/30. The cost of merchandise sold was BD 18,000. The first entry is:
1
120 sec
Q.
Hanan Company applies the perpetual inventory system. On Feb 2 sold merchandise to Yousif Company for BD 24,000 under a credit terms 2/10, n/30. The cost of merchandise sold was BD 18,000. The second entry is:
2
120 sec
Q.
On Feb 5 Yousif Company returned merchandise BD1,500, the cost of merchandise was BD700. The first entry is:
3
120 sec
Q.
On Feb 5 Yousif Company returned merchandise BD1,500, the cost of merchandise was BD700. The Second entry is:
4
120 sec
Q.
On Feb 8 Yousif Company paid the full amount due. How much is the discounted amount she have got in terms of (2/10, n/30) (Purchase date Feb 2)
