Peron Company uses a perpetual inventory system and the net method of recording invoices. The company purchased merchandise on November 4 at a $2,000 invoice price with terms of 2/10, n/30.

Answers

Answer 1

Answer: See explanation

Explanation:

From the information given in the question, the journal entry is written below:

Debit: Merchandise inventory 1960

Credit: Account payable 1960

(To record purchase)

Note that 1960 was gotten as:

= 2000 × 98%

= 2000 × 0.98

= 1960

Note that 2% discount was given.


Related Questions

5
Select the correct answer.
What is the current in a parallel circuit which has two resistors (17.2 ohms and
22.4 ohms) and a power source of 6.0 volts?
ОА.
0.30 amps
OB.
9.8 amps
OC.
0.61 amps
D.
1.2 amps
Reset
Next

Answers

Answer:

Current in a parallel circuit = 0.61 amps (Approx)

Explanation:

Given:

Voltage V = 6 volt

Two resistors = 17.2 , 22.4 in parallel circuit

Find:

Current in a parallel circuit

Computation:

1/R = 1/r1 + 1 / r2

1/R = 1/17.2 + 1 / 22.4

R = 9.73 ohms (Approx)

Current in a parallel circuit = V / R

Current in a parallel circuit = 6 / 9.73

Current in a parallel circuit = 0.61 amps (Approx)

tank contains 335 kg of water at a uniform temperature of 60oC. The tank is insulated and not heated; it neither loses nor gains heat through the walls of the tank. A valve is opened and water exits the tank at a rate of 0.5 kg/sec and a temperature of 60oC. After 10 seconds the valve is closed again . Using the assumption that water at zero degrees centigrade contains zero energy and considering only internal, how much energy left the tank through the valve during this 10 second period; report as kJ.

Answers

Answer:

Explanation:

Thermal energy or internal energy gain or loss = mass x specific heat x temperature  

specific heat of water = 4.2 kJ / kg degree Celsius

mass of water lost in 10 second = rate of loss x time = .5 x 10 = 5 kg .

heat energy associated with lost water = 5 x 4.2 x ( 60 - 0 ) = 1260 kJ .

Heat energy lost = 1260 kJ .

a toy of mass 600 is whirled by a child in a horizontal circle using a string of length 2m with a linear speed of 5 m/s determine the angular velocity of the toy?​

Answers

Explanation:

angular velocity = velocity/radius

= 5/2

= 2.5 rad/s

An object swings in a horizontal circle, supported by a 1.8-m string. It swings at a speed of 3 m/s. What is the mass of the object given that the tension in the string is 90 N?

Answers

Answer:

Mass = 18 kg

Explanation:

Formula for force in centripetal motion is;

F = mv²/r

We have;

Mass; m.

Speed; v = 3 m/s

radius; r = 1.8 m

Force; F = 90 N

Thus;

Making m the subject;

m = Fr/v²

m = 90 × 1.8/3²

m = 18 kg

Which type of biological molecule would contain fats?
A) Amino Acids.
C) Nucleic Acids.
B) Lipids.
D) Carbohydrates.

Answers

B

Explanation:

lipids contains fat

hope it helps

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