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Bagley Company Sells Merchandise on Account for $5,000 to Hoffman

Question 78

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Bagley Company sells merchandise on account for $5,000 to Hoffman Company with credit terms of 1/10, n/30. Bagley grants Hoffman a $600 allowance because some of the merchandise did not conform to specifications. Hoffman settle the account within the discount period. What entry does Bagley make upon receipt of the check?


A) Bagley Company sells merchandise on account for $5,000 to Hoffman Company with credit terms of 1/10, n/30. Bagley grants Hoffman a $600 allowance because some of the merchandise did not conform to specifications. Hoffman settle the account within the discount period. What entry does Bagley make upon receipt of the check? A) B) C) D)
B) Bagley Company sells merchandise on account for $5,000 to Hoffman Company with credit terms of 1/10, n/30. Bagley grants Hoffman a $600 allowance because some of the merchandise did not conform to specifications. Hoffman settle the account within the discount period. What entry does Bagley make upon receipt of the check? A) B) C) D)
C) Bagley Company sells merchandise on account for $5,000 to Hoffman Company with credit terms of 1/10, n/30. Bagley grants Hoffman a $600 allowance because some of the merchandise did not conform to specifications. Hoffman settle the account within the discount period. What entry does Bagley make upon receipt of the check? A) B) C) D)
D) Bagley Company sells merchandise on account for $5,000 to Hoffman Company with credit terms of 1/10, n/30. Bagley grants Hoffman a $600 allowance because some of the merchandise did not conform to specifications. Hoffman settle the account within the discount period. What entry does Bagley make upon receipt of the check? A) B) C) D)

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