Solved

On March 12,Klein Company Sold Merchandise in the Amount of $7,800

Question 157

Multiple Choice

On March 12,Klein Company sold merchandise in the amount of $7,800 to Babson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,500.Klein uses the perpetual inventory system and the gross method of accounting for sales.
-The journal entry or entries that Klein will make on March 12 is (are) :


A) On March 12,Klein Company sold merchandise in the amount of $7,800 to Babson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,500.Klein uses the perpetual inventory system and the gross method of accounting for sales. -The journal entry or entries that Klein will make on March 12 is (are) : A) B) C) D) E)
B) On March 12,Klein Company sold merchandise in the amount of $7,800 to Babson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,500.Klein uses the perpetual inventory system and the gross method of accounting for sales. -The journal entry or entries that Klein will make on March 12 is (are) : A) B) C) D) E)
C) On March 12,Klein Company sold merchandise in the amount of $7,800 to Babson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,500.Klein uses the perpetual inventory system and the gross method of accounting for sales. -The journal entry or entries that Klein will make on March 12 is (are) : A) B) C) D) E)
D) On March 12,Klein Company sold merchandise in the amount of $7,800 to Babson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,500.Klein uses the perpetual inventory system and the gross method of accounting for sales. -The journal entry or entries that Klein will make on March 12 is (are) : A) B) C) D) E)
E) On March 12,Klein Company sold merchandise in the amount of $7,800 to Babson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,500.Klein uses the perpetual inventory system and the gross method of accounting for sales. -The journal entry or entries that Klein will make on March 12 is (are) : A) B) C) D) E)

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q62: Cushman Company had $800,000 in sales,sales discounts

Q64: Cushman Company had $800,000 in sales,sales discounts

Q136: A company's net sales are $775,420, its

Q153: On September 12,Vander Company sold merchandise in

Q156: On March 12,Klein Company sold merchandise in

Q158: On September 12,Vander Company sold merchandise in

Q160: Using the following year-end information for Bauman,LLC,calculate

Q161: A company purchased $10,000 of merchandise on

Q161: Morgan,Inc.uses a perpetual inventory system and the

Q162: Netherland Corporation has the following unadjusted balances:

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