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On June 15, a Food Wholesaler Sold 100 Cases of Canned

Question 42

Multiple Choice

On June 15, a food wholesaler sold 100 cases of canned soup to Juniper Foods for $90 per case with terms of 2/10, n/30. On June 17, Juniper returned 20 cases of damaged inventory (and received full credit) , along with a check for the amount due for the purchase.
Given this information, the journal entry by Juniper Foods on June 17 will:


A) Debit Accounts Receivable for $9,000
B) Credit Cash for $8,820
C) Debit Cash for $7,056
D) Credit Inventory for $1,944

Correct Answer:

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