Register
AG Inc. made a $15,000 sale on account with the following terms: 1/15, n/30. If the company uses the gross method to record sales made on credit, what is/are the debit(s) in the journal entry to record
178k views
4 votes
AG Inc. made a $15,000 sale on account with the following terms: 1/15, n/30. If the

company uses the gross method to record sales made on credit, what is/are the
debit(s) in the journal entry to record the sale?

User KevinP
by
4.8k points

2 Answers

6 votes

The Answer is

14,850

User Avrom
by
5.7k points
6 votes

Answer:

$14,850

Net Method - report at net; as if taking discount 1% discount. [15000 - (15000*.010]

Inventory/Purchases 14,850

Accounts Payable 14,850

User Samvid Mistry
by
5.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.8m questions

7.6m answers

Other Questions

Solve for y in terms of x. 2/3y - 4 = x y = x + 6 y = -x + 4 y = -x + 6 y = x + 4
Aliyah has $24 to spend on seven pencils. After buying them she had $10. How much did each pencil cost?
Use the normal model ​n(11371137​,9696​) for the weights of steers. ​a) what weight represents the 3737thth ​percentile? ​b) what weight represents the 9999thth ​percentile? ​c) what's the iqr of the weights
Evaluate a + b when a = –16.2 and b = –11.4 A. –27.6 B. –4.8 C. 4.8 D. 27.6
What is the value of x? (-4) - x = 5
Link Copied!