Monica’s closet received payment in full for goods sold within the discount period on a $500 sales invoice, terms 2/10, n/30. which entry records this payment? a. debit accounts receivable; credit sales $500 b. debit cash; credit accounts receivable $500 c. debit cash $490, debit sales discount $10; credit sales $500 d. debit cash $490, debit sales discount $10; credit accounts receivable $50

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be

Match the different financial task to their corresponding financial life cycle phases

Financial performance is measured in many ways. requirements 1. explain the difference between lag and lead indicators. 2. the following is a list of financial measures. indicate whether each is a lag or lead indicator: a. income statement shows net income of $100,000 b. listing of next week's orders of $50,000 c. trend showing that average hits on the redesigned website are increasing at 5% per week d. price sheet from vendor reflecting that cost per pound of sugar for the next month is $2 e. contract signed last month with large retail store that guarantees a minimum shelf space for grandpa's overloaded chocolate cookies for the next year