: Winsor Co. records purchases at net amounts. On May 5 Winsor purchased merchandise on account, $20,000, terms 2/10, n/30. Winsor returned $1,500 of the
: Winsor Co. records purchases at net amounts. On May 5 Winsor purchased merchandise on
account, $20,000, terms 2/10, n/30. Winsor returned $1,500 of the May 5 purchase and received
credit on account. At May 31 the balance had not been paid.
5. The amount to be recorded as a purchase return is
a. $1,350.
b. $1,530.
c. $1,500.
d. $1,470.
6. By how much should the account payable be adjusted on May 31?
a. $0.
b. $430.
C. $400.
d. $370.
How it Works
1
It only takes a couple of minutes to fill in your details, select the type of paper you need (essay, term paper, etc.), give us all necessary information regarding your assignment.
2
Once we receive your request, one of our customer support representatives will contact you within 24 hours with more specific information about how much it'll cost for this particular project.
3
After receiving payment confirmation via PayPal or credit card – we begin working on your detailed outline, which is based on the requirements given by yourself upon ordering.
4
Once approved, your order is complete and will be emailed directly to the email address provided before payment was made!