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The credit sale of merchandise for $112.20 refers to a transaction where a customer purchases goods worth that amount but does not pay for them immediately. Instead, the customer agrees to pay the amount later, typically within a specified credit period. This sale will be recorded as an increase in accounts receivable for the seller and a revenue entry reflecting the sale amount.
What else can I help you with?
What is the equivalent fraction of 1122?
1122 = 1122/1 = 11220/10
What is the authorization number on a credit card?
It is a five or six numbers generated by an issuing bank, using a credit card, for the purpose of validating a credit card whenever it is approved in the sale of a service. Here the authorization code is to approve the transaction. Here i prefer virtual credit card for transactions.
What is soft line merchandise?
Product line primarily consisting of merchandise such as clothing, footwear, jewelery, linens and towels.
What is the floor area of Merchandise Mart?
The floor area of Merchandise Mart in Chicago is 372,000 m2 (4,000,000 sq ft).
Malik purchased a pair of roller blades that were originally priced at 250 for a sale price of 180 He charged the roller blades on his credit card and made the minimum monthly payment of 20 When?
$470
What is the sale of merchandise by a company on its own credit card that may result in a debit to service charge expense?
credit to interest revenue
Can you record transactions in 2 journals Example Can sale of merchandise for cash be put in the cash receipts journal and the sales journal?
A sale of merchandise for cash would be: Debit cash or bank account, Credit sales
When a sale of merchandise is made for credit what three accounts are increased?
Accounts Recievable, Cost of Goods Sold, and Sales Revenue.
What is 20 of 5.60?
20 of 5.60 = 11220 of 5.60 = 11220 of 5.60 = 11220 of 5.60 = 112
When a retailer sells merchandise on account the general entry for the sale would be to?
[Debit] Accounts Receivable xxxx [Credit] Sales xxxx
Who gives merchandise credit with bad credit?
fingerhut
How can I use my Lowe's merchandise credit online?
To use your Lowe's merchandise credit online, simply shop on the Lowe's website and proceed to checkout. During the payment process, enter the code from your merchandise credit in the designated field. The credit amount will be applied to your total purchase.
Is it illegal to sell new merchandise at a garage sale If the garage sale is predominately new items?
As long as the merchandise is not stolen and was obtained legally, it is legal.
What account is debited when a company returns merchandise to a vendor on credit?
credit
What is theMerchandise Inventory?
Merchandise Inventory is a stock of products on hand of a merchandise company intended for sale.
Is merchandise inventory is a credit or debit?
debit
What does the word merchandise mean?
Merchandise is the things stocked on the shelves of any store for sale. A grocery store has merchandise different from a clothing store.
