Top Posters
Since Sunday
w
3
w
3
e
3
3
r
3
b
2
M
2
V
2
f
2
c
2
c
2
K
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
harra harra
wrote...
Go to Answer
Posts: 1309
Rep: 2 0
7 years ago
Ruby Company purchased inventory from Diamond Company, and received a credit memo from Diamond Company. Diamond Company had charged Ruby Company $3.85 rather than $3.58 for each of the 100 items ordered. What entry will Ruby Company make assuming they are using a periodic inventory system?
A)
Sales Returns and Allowances   27   
      Inventory      27

B)
Accounts Payable-Diamond Company   27   
      Purchase Returns and Allowances      27

C)
Accounts Payable-Diamond Company   27   
      Inventory      27

D)
Inventory   27   
      Accounts Payable-Diamond Company      27
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
Read 147 times
1 Reply
Replies
Answer verified by a subject expert
KryzenKryzen
wrote...
#1
Posts: 466
Rep: 34 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

harra Author
wrote...

7 years ago
this is exactly what I needed
Liarec
wrote...

Yesterday
Correct Slight Smile TY
terriroberts96
wrote...

2 hours ago
You make an excellent tutor!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  487 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 864
  
 270
  
 127
Your Opinion
Who's your favorite biologist?
Votes: 608
Previous poll results: Does a gender wage gap exist in America?