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On October 1,Whaley Company Sold Merchandise in the Amount of $5,800

Question 103

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On October 1,Whaley Company sold merchandise in the amount of $5,800 to Lee Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Whaley uses the perpetual inventory system.Lee pays the invoice on October 8,and takes the appropriate discount.The journal entry that Whaley makes on October 8 is:


A) On October 1,Whaley Company sold merchandise in the amount of $5,800 to Lee Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Whaley uses the perpetual inventory system.Lee pays the invoice on October 8,and takes the appropriate discount.The journal entry that Whaley makes on October 8 is: A) B) C) D) E)
B) On October 1,Whaley Company sold merchandise in the amount of $5,800 to Lee Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Whaley uses the perpetual inventory system.Lee pays the invoice on October 8,and takes the appropriate discount.The journal entry that Whaley makes on October 8 is: A) B) C) D) E)
C) On October 1,Whaley Company sold merchandise in the amount of $5,800 to Lee Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Whaley uses the perpetual inventory system.Lee pays the invoice on October 8,and takes the appropriate discount.The journal entry that Whaley makes on October 8 is: A) B) C) D) E)
D) On October 1,Whaley Company sold merchandise in the amount of $5,800 to Lee Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Whaley uses the perpetual inventory system.Lee pays the invoice on October 8,and takes the appropriate discount.The journal entry that Whaley makes on October 8 is: A) B) C) D) E)
E) On October 1,Whaley Company sold merchandise in the amount of $5,800 to Lee Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Whaley uses the perpetual inventory system.Lee pays the invoice on October 8,and takes the appropriate discount.The journal entry that Whaley makes on October 8 is: A) B) C) D) E)

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