Register
Coronado Industries made a $24600 sale on account with the following terms: 3/10, 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
226k views
4 votes
Coronado Industries made a $24600 sale on account with the following terms: 3/10, 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 Vivek Doshi
by
5.9k points

1 Answer

3 votes

Answer:

The debit in the journal entry to record the sale will be : Trade Receivable $24600

Step-by-step explanation:

The journal entry to record this transaction will be :

Trade Receivable $24600 (debit)

Sales Revenue $24600 (credit)

User OnengLar
by
5.4k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.6m questions

7.3m answers

Other Questions

_____ reminds customers and clients that they made a good choice in selecting a company with which to do business, or it reminds them of the good qualities of their purchase.​
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Ensuring that an individual is who they claim to be is the function of _____. select one: a. confidentiality b. authorization c. availability d. authentication e. nonrepudiation
The current market price for good y is above the equilibrium price, and then the price of a subsitute good, x, increases. the demand curve for good y shifts as a result. what is the likely outcome of the
Link Copied!