The journal entry to record the purchase of merchandise on account for $3,950 with freight of $245 prepaid by their supplier and added to the invoice is:

LO 7.2 A customer just charged $150 of merchandise on the company’s own charge card. Which special journal would the company use to record this transaction?Choose one answer from the options below.A. sales journalB. purchases journalC. cash receipts journalD. cash disbursements journalE. general journalBackNext

A company purchased $3,200 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $900 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:Multiple ChoiceDebit Merchandise Inventory $2,300; credit Cash $2,300.Debit Cash $2,300; credit Accounts Payable $2,300.Debit Accounts Payable $2,300; credit Merchandise Inventory $46; credit Cash $2,254.Debit Accounts Payable $3,200; credit Cash $3,200.Debit Accounts Payable $2,300; credit Cash $2,300.

LO 7.3 Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction?Choose one answer from the options below.A. sales journalB. purchases journalC. cash receipts journalD. cash disbursements journalE. general journal

Which journal entry(s) reflects the following transaction?:BOC received $10,000 of cash from a customer who took delivery of goods that originally cost BOC $8,000 to acquire.1 pointDr.   Cash          10,000    Cr.  Inventory         10,000Dr. Cash                       10,000    Cr.  Revenue                    10,000Dr.  Cost of Goods Sold   8,000   Cr.  Inventory                     8,000 Dr.   Cash   10,000    Cr.  Inventory      8,000    Cr.  Revenue       2,000Dr. Cash                       10,000    Cr.  Revenue                    10,000Dr.  Accounts Payable   8,000   Cr.  Inventory                     8,000 Dr.   Cash          10,000    Cr.  Revenue         10,000

X-Mart purchased $300 of merchandise and paid immediately. Demonstrate the journal entry to record this transaction, assuming the perpetual inventory system is used.Multiple choice question.Debit Purchases $300; credit Cash $300.Credit Merchandise Inventory $300; debit Cash $300.Debit Merchandise Inventory $300; credit Cash $300.Debit Merchandise Inventory $300; credit Sales $300.