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

Question 156

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.
-Babson pays the invoice on March 17,and takes the appropriate discount.The journal entry that Klein makes on March 17 is:


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. -Babson pays the invoice on March 17,and takes the appropriate discount.The journal entry that Klein makes on March 17 is: 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. -Babson pays the invoice on March 17,and takes the appropriate discount.The journal entry that Klein makes on March 17 is: 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. -Babson pays the invoice on March 17,and takes the appropriate discount.The journal entry that Klein makes on March 17 is: 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. -Babson pays the invoice on March 17,and takes the appropriate discount.The journal entry that Klein makes on March 17 is: 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. -Babson pays the invoice on March 17,and takes the appropriate discount.The journal entry that Klein makes on March 17 is: A) B) C) D) E)

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