Solved

Jackie's Online Service on April 30 Has the Following Account

Question 1

Multiple Choice

Jackie's Online Service on April 30 has the following account balances:  Sales $25,000 Sales Returns and Allowances 5,000 Purchases 14,000 Freight-In 1,000 Purchases Returns and Allow. 2,000 Purchases Discounts ???\begin{array} { | l | r | } \hline \text { Sales } & \$ 25,000 \\\hline \text { Sales Returns and Allowances } & 5,000 \\\hline \text { Purchases } & 14,000 \\\hline \text { Freight-In } & 1,000 \\\hline \text { Purchases Returns and Allow. } & 2,000 \\\hline \text { Purchases Discounts } & ? ? ? \\\hline\end{array} If net purchases for the period are $11,000,what is the amount in the Purchases Discounts account?


A) $3,000
B) $4,000
C) 2,000
D) $1,000

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents